Business
Result of AGM and Completion of Investment
Result of AGM and Completion of Investment.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \nRNS Number : 1212U Vela Technologies PLC 19 October 2017 \n\n19 October 2017\nVela Technologies plc\n(\"Vela\" or the \"Company\")\n Result of Annual General Meeting\nCompletion of investment in Vibe Tickets\nThe Board of Vela (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, is pleased to announce that at the Company's Annual General Meeting held earlier today all resolutions were passed.\nFurther to the announcement made on 16 October 2017, the Company is pleased to announce that its investment in THEVIBE Ltd (trading as Vibe Tickets) (\"Vibe Tickets\") has now been completed. Vela has invested £200,000 in Vibe Tickets' follow-on funding round. \nFollowing the completion of the fundraise, the Company has a 5.17% equity interest in the share capital of Vibe Tickets. In addition, as part of the fundraise, the investors in the funding round, including Vela, have been issued with warrants to acquire additional new ordinary shares in Vibe Tickets for nominal consideration. The warrants are only exercisable if and when the next funding round is undertaken by Vibe Tickets and providing this funding round raises in excess of £1,000,000. The exercise price of the warrants will equate to a 25% discount to the value of this next funding round.\n \nFor further information, please contact:\n\n\n\n\nVela Technologies plc\n\n\n\n\n\n\n\nBrent Fitzpatrick, Non-Executive Chairman\nAntony Laiker, Director\n \n\n\n \nTel: +44 (0) 7802 262 443\n \n\n\n\n\nAllenby Capital Limited\n(Nominated Adviser)\nNick Athanas/Katrina Perez/Nick Naylor\n \n\n\n \n \nTel: +44 (0) 20 3328 5656\n\n\n\n\nSmaller Company Capital Limited\n(Broker)\nRupert Williams/Jeremy Woodgate\n \n\n\n \n \nTel: +44 (0) 20 3651 2910\n \n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END RAGEALENFFKXFFF\n ","length":3982,"tagName":"div"}]