Business
Further re. Placing and Investment by Director
Further re. Placing and Investment by Director.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \nRNS Number : 7897I Vela Technologies PLC 12 August 2019 \n\n12 August 2019\nVela Technologies plc\n(\"Vela\" or the \"Company\")\nFurther re. Placing and Investment by Director\nFurther to the announcement made earlier today, the Board of Vela is pleased to announce that Antony Laiker, Executive Director of the Company, has subscribed for 25,000,000 ordinary shares in the Company (the \"Antony Laiker Placing Shares\") at a price of 0.10 pence per new ordinary shares (the \"Placing Price\"). \nDetails of the participation by Antony Laiker in the Placing\nAntony Laiker has subscribed for the 25,000,000 new Ordinary Shares on the same terms as subscribers who participated in the placing as announcement on 24 April 2019 (the \"Placing\"). The proceeds of the issue of the Antony Laiker Placing Shares will be applied towards certain of the proposals outlined in the Company's announcement on 24 April 2019. \nAs announced previously, conditional on the approval of shareholders at a General Meeting, subscribers in the Placing, including Antony Laiker, will be issued with 1 warrant for every 4 shares issued pursuant to the Placing, exercisable at 0.15 pence per placing warrant, for a period of up to 2 years from issue. Following the issue of new Ordinary Shares in May 2019 in relation to the Placing, Vela does not have sufficient allotment authority to enable the placing warrants to be exercised in full. \nA circular containing a notice convening a general meeting of Vela will be posted to shareholders shortly with the purpose of, inter alia, putting in place the requisite share authorities to cover the placing warrants being exercised in full. \nFurther re. repayment of Loan Notes held by Antony Laiker\nAs announced on 24 April 2019, Vela entered into an agreement for the repayment of the £200,000 of loan notes (and accrued interest) held by Antony Laiker (\"Antony Laiker Loan Note\") in accordance with the terms of the loan note agreement. As announced, Antony Laiker intended to use the entire proceeds of the repayment of the Antony Laiker Loan Note to subscribe for new Ordinary Shares in the Company. \nAccordingly, Antony Laiker has today conditionally subscribed for 240,985,301 new Ordinary Shares at a price of 0.10 pence per share (the \"Antony Laiker Subscription Shares\"). The issue and admission to trading on ...