VELA TECHNOLOGIES PLC — AGM Information 2013

Jul 11, 2013

National Storage Mechanism | Additional information

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RNS Number : 1169J

Vela Technologies PLC

11 July 2013

VELA TECHNOLOGIES PLC

("Vela Technologies" or the "Company")

Result of General Meeting

The Company announces today that at the General Meeting held on 11 July 2013 all Resolutions were duly passed.

Following the General Meeting, the Company will commence proceedings to obtain the confirmation of the Court in relation to the Capital Reduction following which the Company will cancel the Deferred Shares and the balances standing to the credit of the share premium account and the capital redemption reserve of the Company. The balance on the share premium account will include for this purpose any additional share premium arising before the date of the final court hearing. It is anticipated that the Capital Reduction will be sufficient to write off the entirety of the deficit on its profit and loss account, and create a small positive balance.  Following the Capital Reduction, there will be no change in the number of Ordinary Shares in issue.

It is expected that the final Court hearing at which the Court will confirm the Capital Reduction will take place on 31 July 2013.  Date upon which the Capital Reduction will take effect is expected to be 1 August 2013. A further announcement will be made in due course.

For further information, please contact:

Vela Technologies plc Brent Fitzpatrick Non-Executive Director	Email: brent@lowwave.co.uk
ZAI Corporate Finance Limited Nomad Peter Trevelyan-Clark / Wei Wang	Tel: 020 7060 2220
Peterhouse Corporate Finance Limited Broker Eran Zucker	Tel: 020 7469 0932

This information is provided by RNS

The company news service from the London Stock Exchange

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