Business
Placing to raise £750,000
Placing to raise £750,000.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \nRNS Number : 1577Z Vela Technologies PLC 13 December 2017 \n\nPrior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement, this information is now considered to be in the public domain.\n13 December 2017\n \nVela Technologies plc\n(\"Vela\" or the \"Company\")\nPlacing to raise £750,000\nThe Board of Vela (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, is pleased to announce that the Company has raised gross proceeds of £750,000 through a placing of 115,384,615 new ordinary shares of 0.1 pence each in the Company (the \"Placing Shares\") at a price of 0.65 pence per share (the \"Placing Price\") (together the \"Placing\"). The net proceeds from the Placing will be used by the Company to take advantage of further investment opportunities as and when they arise.\n \nThe Placing has been undertaken under the Company's existing share allotment authorities approved by shareholders at the annual general meeting of the Company held on 19 October 2017. The Placing, which was oversubscribed, has been arranged by Smaller Company Capital Limited as the Company's broker. \n \nSubscribers in the Placing will be issued with 1 warrant for every 2 Placing Shares (the \"Placing Warrants\") exercisable for a period of up to 12 months from Admission at 1 pence per ordinary share.\n \nAntony Laiker, Executive Director of Vela, commented:\n \n \"2017 has been a busy year for Vela culminating in this fundraise which will place Vela in a strong position for further investments. There is a wealth of talent, drive and enthusiasm among early stage technology businesses and we had been approached by several investors who wanted exposure to our latest transactions. These funds will assist us in discussions with suitable investments as well as providing Vela with the ability to act more proactively to increase shareholder value.\"\n \nDetails of the Placing and Admission\n \nThe Placing is conditional on admission of the Placing Shares to trading on AIM. Following Admission, the Placing Shares will represent, in aggregate, approximately 1...