Business
Further re Placing
Further re Placing.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \n Vela Technology Plc (\"Vela\" or \"the Company\") \n\n Further re Placing \n\n5 September 2013\n\nFurther to the announcement made on 24 January 2013, the Company is pleased to\nannounce receipt of £25,000 in respect of a subscription for 5,000,000 new\nOrdinary Shares of 0.1p each at 0.5 pence per share by Adrian Moss, former\nchief executive of the Company and a director until March of this year. The\nDirectors, having consulted with the Company's nominated adviser, consider the\nterms of the subscription to be fair and reasonable insofar as shareholders are\nconcerned. Following the subscription, Mr Moss is interested in 5,995,100\nOrdinary Shares, representing approximately 4.25 per cent. of the Company's\nissued ordinary share capital. The proceeds of the subscription will augment\nthe funds available to the Company to evaluate and apply funding to new\ninvestments. The £12,000 subscription for 2,400,000 shares by former employee\nSpratt Ebako referred to in the 24 January announcement has not been and is\nunlikely to be completed.\n\nApplication will be made for the new Ordinary Shares, which rank pari passu\nwith the Company's existing issued ordinary shares, to be admitted to trading\non AIM. It is expected that Admission will become effective on 11 September\n2013. Following the issue, the Company has 141,012,641 ordinary shares of 0.1p\neach in issue, each carrying the right to one vote. The Company does not hold\nany ordinary shares in Treasury. The above figure of 141,012,641 ordinary\nshares may be used by shareholders in the Company as the denominator for the\ncalculations by which they will determine if they are required to notify their\ninterest in, or a change to their interest in, the share capital of the Company\nunder the Financial Conduct Authority's Disclosure and Transparency Rules.\n\nFor further Information:\n\nBrent Fitzpatrick e-mail [email protected] \nNon-Executive Chairman \nVela Technologies plc \n \nZAI Corporate Finance Tel 0207 060 0220 \nNomad \nPeter Trevelyan-Clark/ \nTim Cofman/Wei Wang \n \nPeterhouse Corporate Finance Tel 020 7469 0932 \nBroker \nEran Zucker\n ","length":2813,"tagName":"div"}]