Update on Admission of Subscription Shares

7 April 2025

Caledonian Holdings plc

(formerly Vela Technologies plc)

("Caledonian Holdings" or "the Company")

Update on Admission of Subscription Shares

Further to the Company's announcement on 1 April 2025, the Board of Caledonian Holdings, the AIM-quoted investing company, provides an update on the admission to trading on AIM of the 10,920,000,000 Subscription Shares.

On 27 March 2025 the Company announced that application had been made to the London Stock Exchange for the 10,920,000,000 Subscription Shares to be admitted to trading on AIM ("Admission") and Admission was anticipated to occur on or around 1 April 2025. On 1 April 2025, the Company announced that Admission was anticipated to occur at 8.00 a.m. on or around 4 April 2025.

As of the date of this announcement the Company has not yet received all of the £273,000 of Subscription monies, with £200,000 outstanding. However, the Company expects that the outstanding funds will be received imminently. The Company now anticipates that Admission will occur at 8.00 a.m. on or around 11 April 2025.

For the avoidance of doubt the Company has received all of the net proceeds due to it pursuant to the Placing which raised gross proceeds of £827,000 and the recently announced broker option which raised gross proceeds of £112,500.

A further announcement will be made in relation to the admission of the Subscription Shares.

Capitalised terms used in this announcement shall have the same meaning as in the announcement of 4 March 2025 unless otherwise defined herein.

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