Business
Further re. Placing
Further re. Placing.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \nRNS Number : 7552X Vela Technologies PLC 01 May 2019 \n\n 1 May 2019\n \nVela Technologies plc\n(\"Vela\" or \"Vela Technologies\" or the \"Company\")\n \nFurther re. Placing\n \nFurther to the announcement on 24 April 2019 (the \"Placing Announcement\"), in relation to the Placing to raise £400,000 through the issue of 400,000,000 Placing Shares at the Placing Price of 0.1 pence per Placing Share, the Board of Vela Technologies provides the following update. \nAs detailed in the Placing Announcement, Antony Laiker (Executive Director of Vela) intends to subscribe for 25,000,000 Placing Shares at the Placing Price and it was envisaged by Vela and Antony Laiker at that time that Antony Laiker's Placing participation would be capable of becoming binding to enable admission of his Placing Shares to take place at the same time as the remaining 375,000,000 Placing Shares, on 2 May 2019. \nAs part of the Placing Announcement Vela announced that it intends to invest in the funding round currently being undertaken by Portr, an existing investee company of Vela. Within the Placing Announcement Vela included the Board's expectation of Vela's book value for Portr following completion of its proposed investment. At the present time Antony Laiker is deemed by the Board to be in possession of inside information relating to the proposed terms of the Portr funding until this information is published by Vela. As a result, Antony Laiker is unable to enter into a binding commitment at this time. It is expected that he will be able to do so shortly. \nA further announcement will be made in due course. A separate application will now be made in due course for admission of these 25,000,000 Placing Shares to trading on AIM.\nAs such, Vela has conditionally raised £375,000 through a placing of 375,000,000 new ordinary shares in Vela (\"New Ordinary Shares\"). All other details of the Placing are unchanged. \nAdmission and Total Voting Rights\nApplication has been made for admission of 375,000,000 New Ordinary Shares to trading to AIM, issued pursuant to the Placing. In addition, application has been made for the admission of the 240,985,301 Scott Fletcher Loan Conversion Shares to trading on AIM. Admission is expected to occur on or around 2 May 2019. \nOn Admission of 375,000,000 New Ordinary Shares and 240,985,301...