Vela Technologies PLC Completion of Fundraising (5544L)

TIDMVELA

RNS Number : 5544L

Vela Technologies PLC

03 October 2016

3 October 2016

Vela Technologies plc

("Vela", the "Company" or the "Group")

Completion of Fundraising

On 9 September 2016, Vela Technologies (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, announced a conditional fundraising to raise GBP400,000 (no commission payable) through the issue of convertible unsecured loan notes to certain Shareholders, including Antony Laiker (a director of the Company). The funds raised through the issue of the Loan Notes will be used for additional working capital and to provide additional funds for the Company to make further investments in the future, in accordance with its investing policy.

At the General Meeting, held on 26 September 2016, all of the Resolutions set out in the Notice of General Meeting were passed. It was also announced by the Company on 26 September 2016 that the funds in connection with the Fundraising had not yet been received by Vela.

The Company can confirm that, as of today, the funds due from investors under the Fundraising have been received in full. As a result the Fundraising has now been completed and the Loan Notes have been issued.

Defined terms used in this announcement not otherwise defined shall have the same meaning as those terms defined and used in the circular sent to shareholders on 9 September 2016.

For further information, please contact:

 
  Vela Technologies plc 
   Brent Fitzpatrick,         Tel: +44 (0) 
    Non-Executive Chairman     7802 262 443 
    Antony Laiker, Director 
   Allenby Capital Limited 
    (Nominated Adviser) 
   Nick Athanas/Katrina       Tel: +44 (0) 
    Perez/Nick Naylor          20 3328 5656 
 
    Smaller Company Capital 
    Limited 
    (Broker)                   Tel: +44 (0) 
    Rupert Williams/Jeremy     20 3651 2910 
    Woodgate 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 03, 2016 11:30 ET (15:30 GMT)