Vela Technologies PLC Update on investment in 3Legs Resources plc (6799P)
09 Junio 2015 - 9:30AM
UK Regulatory
TIDMVELA TIDM3LEG
RNS Number : 6799P
Vela Technologies PLC
09 June 2015
9 June 2015
Vela Technologies plc
("Vela" or the "Company")
Update on investment in 3Legs Resources plc
The Board of Vela (AIM: VELA), the investing company focused on
early stage and pre-IPO disruptive technology investments, notes
the announcement released earlier today by 3Legs Resources plc
("3Legs") in connection with a subscription by 3Legs to raise gross
proceeds of GBP500,000 at a price of 0.27 pence per 3Legs share
(the "3Legs Subscription") and the appointment of James (Jim)
Mellon and Gregory (Greg) Bailey as non-executive directors of
3Legs.
As at the date of this announcement Vela holds 23,500,000 shares
in 3Legs which represents 5.42 per cent. of the existing voting
rights of 3Legs and will represent 3.80 per cent. of the voting
rights of 3Legs following completion of the 3Legs Subscription.
Vela's shareholding in 3Legs has been acquired at an average
price of 0.213 pence per share for a total consideration of
approximately GBP50,090.
3Legs is an Isle of Man incorporated investing company whose
shares are traded on AIM. In February 2015, 3Legs completed a
corporate reorganisation which included the adoption of a new
investing policy to invest in and/or acquire companies within the
technology sector or within the resources sector, particularly
where a resource can be brought into production through the
application of modern technologies. The board of Vela notes that
3Legs has announced today that, following the 3Legs Subscription
and the board appointments, the directors of 3Legs intend to
propose a resolution at the next annual general meeting of 3Legs to
change the company's investing policy to focus on the life sciences
sector.
A link to the 3Legs announcement can be found at:
http://www.investegate.co.uk/3legs-resources-plc/rns/subscription-of-gbp500-000-and-directorate-change/201506090700145700P/
For further information please contact:
Vela Technologies plc
Brent Fitzpatrick, Non-Executive
Chairman Tel: +44 (0) 7802 262 443
Antony Laiker, Director
Allenby Capital Limited
(Nominated Adviser)
Nick Athanas/Katrina Perez/James Tel: +44 (0) 20 3328 5656
Reeve
Vicarage Capital Limited
(Broker) Tel: +44 (0) 20 3651 2910
Rupert Williams/Jeremy Woodgate
This information is provided by RNS
The company news service from the London Stock Exchange
END
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