Business
Non-regulatory: Update re BTL Group Ltd
Non-regulatory: Update re BTL Group Ltd.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \nRNS Number : 0147I Vela Technologies PLC 16 March 2018 \n\n16 March 2018\nVela Technologies plc\n \n(\"Vela\")\n \nNon-regulatory: Update re BTL Group Ltd\n \nThe Board of Vela (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, notes the announcement made yesterday by BTL Group Ltd (\"BTL\") confirming that BTL continues to advance towards near-term release of Interbit, its proprietary blockchain technology platform.\n \nVela holds, as at the date of this announcement, 620,000 common shares in BTL, equivalent to approximately 2.9 per cent. of BTL's issued share capital. BTL is listed on the TSX Venture Exchange, on which the closing mid-market price on 15 March 2018 of BTL's common shares was C$6.71 per share which values Vela's shareholding in BTL at approximately C$4.16 million (equivalent to £2.28 million*). \n \nExtracts from the BTL announcement are copied below:\nBTL GROUP LTD. (TSXV:BTL) (\"BTL\" or the \"Company\"), at the request of IIROC, wishes to confirm that it is not aware of any corporate development, news or undisclosed material change to the Company or its operations that would account for the recent volatility in the stock market activity.\n\"The Company continues to advance towards near-term release of InterbitTM, its proprietary blockchain technology platform, however, clearly our stock price has been greatly impacted by the financial flows in the unrelated cryptocurrency markets over the last six months,\" stated Brian Hinchcliffe, Executive Chairman of the Company.\nABOUT BTL™ AND INTERBIT™\nListed on the TSX Venture Exchange (TSX Venture:BTL) and operating from both Canada and the UK, BTL is an enterprise technology platform provider that is developing Interbit, a proprietary next generation blockchain platform. Via Interbit, BTL can help companies greatly reduce risks and costs by securely streamlining existing IT infrastructures. BTL has successfully demonstrated how Interbit can innovate and transform existing business processes for leading companies in the finance, energy and gaming sectors.\nInterbit is a fast, private, and scalable inter-connected blockchain platform. Via its suite of APIs and smart contracts, Interbit allows businesses around the world to improve efficiency in trading and operations, accel...