Business
Proposed Fundraising, Notice of GM and AGM
Proposed Fundraising, Notice of GM and AGM.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \nRNS Number : 3796J Vela Technologies PLC 09 September 2016 \n\n \nDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).\n \n \n9 September 2016\n \nVela Technologies plc\n(\"Vela\", the \"Company\" or the \"Group\")\n \nProposed issue of 8% Convertible Unsecured Loan Notes 2018\nProposed Consolidation and Sub-division of Ordinary Shares\nNotice of General Meeting\nand\nNotice of Annual General Meeting\nVela Technologies (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, today announces a conditional fundraising to raise £400,000 (before expenses) through the issue of convertible unsecured loan notes to certain Shareholders, including Antony Laiker (a director of the Company). The Loan Notes are repayable on 30 September 2018 and carry an annual interest rate of 8 per cent. The funds raised through the issue of the Loan Notes will be used for additional working capital and to provide additional funds for the Company to make further investments in the future, in accordance with its investing policy.\nThe Loan Notes will be convertible into Ordinary Shares at 0.15p per share, a discount of 6.25 per cent. to the closing bid price of 0.16p per share on 8 September 2016. The approval of Shareholders is being sought for the creation and issue of the Loan Notes. If the necessary resolutions are passed, the Loan Notes will be issued after the General Meeting.\nConditional subscriptions have been received for £200,000 of the Loan Notes from both Scott Fletcher, an existing shareholder in the Company, and Antony Laiker, a director of the Company. \nAt the General Meeting resolutions will also be proposed in relation to a proposed Consolidation and Sub-Division. Further details on the Consolidation and Sub-Division are detailed below.\nFurther details of the proposals are contained in a circular which is due to be posted to Shareholders today, extracts of which can be found below. In addition, the annual report and accounts are expected to be posted to Shareholders today, along with notices convening:\n· the General Meeting, to be held at the offices of Allenby Capital Limited, 3 St. Helen's Place, London EC3A 6AB at 10.00am on 26 September 2016; and\n·&...