Business
Update on investment in Tribe Technology Group
Update on investment in Tribe Technology Group.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n\n5 September 2023\nVela Technologies plc\n(\"Vela\" or \"the Company\")\n \nUpdate on investment in Tribe Technology Group Limited\nThe Board of Vela (AIM: VELA), an AIM-quoted investing company focused on early-stage and pre-IPO disruptive technology investments, notes the admission to AIM and first day of dealings announcement made today by Tribe Technology PLC (\"Tribe Tech\").\n \nAs announced on 23 May 2023, Vela invested £250,000 in Tribe Technology Group Limited, a subsidiary of Tribe Tech, via a subscription to an advance subscription agreement (\"ASA\") as part of a pre-IPO funding round. Pursuant to the ASA, Vela has been issued new ordinary shares in Tribe Tech at a price of 8 pence per share which is 80 per cent. of the issue price at which shares have been subscribed for in Tribe Tech's IPO.\nFollowing Tribe Tech's admission to trading on AIM earlier today, Vela is interested in 3,125,000 ordinary shares in Tribe Tech representing 1.41 per cent. of the issued share capital.\nAn extract from the announcement issued by Tribe Tech is set out below. The full announcement can be found here: https://www.londonstockexchange.com/news-article/TRYB/admission-to-aim-and-first-day-of-dealings/16110227\n \nFor further information, please contact:\n\n\n\nVela Technologies plc\nBrent Fitzpatrick, Non-Executive Chairman\nJames Normand, Executive Director\n\n\nTel: +44 (0) 7410 886830\n \n\n\n\n\nAllenby Capital Limited (Nominated Adviser)\n\n\nTel: +44 (0) 20 3328 5656\n\n\n\n\nNick Athanas / Piers Shimwell\n\n\n\n\n\n\n\nPeterhouse Capital Limited (Broker)\n\n\nTel: +44 (0) 20 7469 0930\n\n\n\n\nLucy Williams / Duncan Vasey\n\n\n\n\n\n\n\nNovus Communications (PR and IR Adviser)\n\n\nTel: +44 (0) 20 7448 9839\n\n\n\n\nAlan Green / Jacqueline Briscoe\n\n\n\n\n\n\n \nAbout Vela Technologies\nVela Technologies plc (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. Vela's investee companies have either developed ways of utilising technology or are developing technology with a view to disrupting the businesses or sector in which they operate. Vela Technologies will also invest in already-listed companies where valuations offer additional opportunities.\nAbout Tribe Tech\nEstablished in 2019, Tribe Technology was founded to create a safer,...