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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Vela Technologies Plc | LSE:VELA | London | Ordinary Share | GB00BYZ9XC29 | ORD 0.01P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.012 | 0.011 | 0.013 | 0.012 | 0.012 | 0.012 | 33,080,723 | 07:49:43 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Investment Advice | 0 | -378k | 0.0000 | N/A | 1.63M |
From Apr 2019 to Apr 2024
TIDMVELA
RNS Number : 7722P
Vela Technologies PLC
19 February 2021
19 February 2021
Vela Technologies plc
("Vela" or "the Company")
Update re. investment in Kanabo Group plc
The Board of Vela (AIM: VELA) announces that, on 17 February 2021, the Company disposed of 1,000,000 shares in Kanabo Group plc ("Kanabo") at a price of 23.5p per share generating net proceeds of GBP233,801 for the Company (the "Disposal").
As detailed in the Company's announcement of 16 February 2021, Vela invested GBP150,000 in Kanabo (formerly Spinnaker Opportunities plc), in conjunction with its reverse takeover acquisition of Kanabo Limited and its admission to trading on the main market of the London Stock Exchange. Vela originally subscribed for 2,307,692 shares in Kanabo at a price of 6.5p per share and therefore the Disposal reflects a net profit of GBP168,801.
Following the Disposal, Vela continues to hold 1,307,692 shares in Kanabo, equivalent to approximately 0.36 per cent. of Kanabo's issued share capital. The net proceeds from the Disposal will be used by the Company to make further investments in line with the Company's investing policy and for general working capital purposes.
For further information, please contact:
Vela Technologies plc Tel: +44 (0) 7421 Brent Fitzpatrick, Non-Executive Chairman 728875 James Normand, Executive Director Allenby Capital Limited (Nominated Adviser Tel: +44 (0) 20 3328 and Joint Broker) 5656 Nick Athanas / Asha Chotai Peterhouse Capital Limited (Joint Broker) Tel: +44 (0) 20 7469 Lucy Williams / Duncan Vasey / Eran Zucker 0930
About Vela Technologies plc
Vela Technologies plc (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. Vela's investee companies have either developed ways of utilising technology or are developing technology with a view to disrupting the businesses or sector in which they operate. Vela Technologies will also invest in already-listed companies where valuations offer additional opportunities.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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END
UPDEADANFAFFEFA
(END) Dow Jones Newswires
February 19, 2021 08:22 ET (13:22 GMT)
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