Business
Portfolio Update
Portfolio Update.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \n10 December 2013\n\n Vela Technologies plc \n\n (\"Vela\" or the \"Company\") \n\n Portfolio Update \n\nVela announces the following updates in relation to its investment portfolio:\n\nStream TV Networks Inc. (\"Stream TV\")\n\nStream TV Networks Inc. has teamed with online electronics giant Newegg Inc. to\nsupport Stream TV's expected retail debut in 1Q2014 with the first public\nretail demonstration of its Ultra-D 4K 2160p glasses-free 3D TV technology.\nNewegg is well known for bringing new and exciting electronics to the global\nmarket. The one-week special preview at Newegg's new consumer showroom in the\nCity of Industry, California, offered Newegg customers an opportunity to\nexperience Stream TV's Ultra-D display in stunning 50-inch 4K clarity.\nIntegrating a 4K panel into Stream TV's proprietary hardware optical system,\nthe Ultra-D 2160p display, with 4 times more pixels than a 1080p full HD\nscreen, is designed to deliver the sharpest 3D experience outside of the cinema\n- without any viewing angles, distortion or the need for 3D glasses. Viewers\ncan watch any type of 2D or 3D source content using Stream TV's real time\nconversion algorithms to transform everything into customized 3D without\nglasses. The Company has a $100,000 minority shareholding in Stream TV.\n\neSeekers Limited (\"eSeekers\")/Disruptive Tech Limited (\"DTL\")\n\neSeekers and DTL are expected shortly to complete the business combination\nreferred to in the Company's 15 August 2013 announcement, giving Vela a 0.63\nper cent. interest in DTL. DTL has recently completed an external investment\nround to raise £16.0m at a pre-money valuation of £75.0m, allowing it to add to\nits holdings in Freeformers, a digital training business, and Deep Ventures, an\naccelerator of early stage tech businesses. Both Freeformers and Deep Ventures\nare registered in England and Wales and are co-located in London. Vela's £\n250,000 investment in eSeekers was made at a Group post-money valuation of £\n40.0m.\n\nPortr Limited (\"Portr\")\n\nThe Company has been informed that Portr continues to develop its network of\npartnerships and B2B sales channels within the aviation and hospitality\nindustries to support the launch of the AirPortr™ service in early 2014. All\nrequired legal and regulatory approvals required to launch AirPortr™'s\ncommercial luggage tr...