Business
Statement re Further Investment
Statement re Further Investment.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \n Vela Technology Plc (\"Vela\" or \"the Company\") \n\n Convertible Loan Investment in Delaware-based Stream TV Networks Inc. \n\n1 October 2013\n\nVela Technologies plc is pleased to announce a minority investment of $100,000\nby way of Convertible Loan Note in Stream TV Networks Inc. (\"Stream TV\") a\nDelaware-based technology company.\n\nStream TV (www.streamtvnetworks.com) was founded in 2009 to pursue new\ntechnologies that enhance user entertainment and communications experiences.\nStream TV is currently seeking to launch Ultra-D™ (www.ultra-d.com), a\ntechnology which allows TV and tablet manufacturers to convert two dimensional\n(\"2D\") devices into three dimensional (\"3D\") devices without the need for\nviewing glasses (3D Auto Stereoscopic Display or 3D ASD). The Company's\ntechnology will allow real time automatic conversion of 2D or 3D content that\nrequires viewing glasses to experience 3D into 3D ASD. Conversion can be either\nin real time at the home of the end-user by using an automatic converter for\nlive TV, Blu-ray® Disc or gaming system (e.g. X-Box™ or PlayStation®) content,\nor by the content owner before online/cable/satellite distribution as 3D Video\nOn Demand.\n\nThe Loan Notes will accrue simple interest at the rate of twelve (12%) per cent\nannually until December 31, 2014 unless an IPO is concluded prior to this date,\nincreasing at 1% for each six month period thereafter until the final maturity\ndate on 31 December 2015. The Loan and accrued interest convert to equity at\nvarious prices depending on when Stream TV conducts a Qualified IPO (as\ndefined). There are early repayment provisions in the case of certain strategic\ninvestments. \n\nCommenting on the investment, Nigel Brent Fitzpatrick MBE;\n\n\"I am pleased to announce another investment in line with our objective to\nbuild a diverse range of potentially high growth technology investments,\nbringing the total amount invested to over £385,000 in the year to date. Our\ninvestment in Stream TV represents a promising opportunity with the company\nbeing able to convert 2D to 3D at the point of the end user viewing or to\nimplement the technology at the point of production of lower cost 2D TV's. This\nprovides the ability to have 3D but without the glasses and for essentially all\nyour current video content. Most notably the end use...