VELA TECHNOLOGIES PLC

AGM Information • Mar 11, 2021

National Storage Mechanism | Additional information

RNS Number : 9893R

Vela Technologies PLC

11 March 2021

11 March 2021

Vela Technologies plc

("Vela" or "the Company")

Result of General Meeting and Total Voting Rights

The Board of Vela (AIM: VELA) announces that at the General Meeting held earlier today all Resolutions were duly passed.

As a result, the 1,666,666,667 Placing Shares being issued pursuant to the Placing announced on 23 February 2021, are expected to be admitted to trading on AIM on 16 March 2021 ("Admission") to complete the Placing. In addition, the Company has today issued 833,333,340 warrants to subscribe for new ordinary shares in the Company (the "Placing Warrants") at a price of 0.125 pence per Ordinary Share exercisable for a period of 18 months from Admission, resulting in each subscriber in the Placing being issued with 1 Placing Warrant for 2 Placing Shares subscribed for.

The proxy voting results of the Resolutions are set out below:

Resolutions at General Meeting	Votes For*	% of votes cast**	Votes Against	% of votes cast**	Votes Withheld***	Total votes cast****
Ordinary Resolution
1. To grant the Directors general authority to allot the Placing Shares and Ordinary Shares representing up to 50% of the issued share capital of the Enlarged Share Capital of the Company.	197,483,972	84.70%	35,678,231	15.30%	36,164,580	233,162,203
Special Resolution
2. To disapply pre-emption rights in respect of the allotment for cash of the Placing Shares, and Ordinary Shares representing up to 25% of the Enlarged Share Capital of the Company.	186,690,467	80.25%	45,952,175	19.75%	36,684,141	232,642,642

Notes:

*"Votes For" include votes giving the Chairman discretion.

**Percentages exclude "Votes Withheld".

***"Votes Withheld" are not votes in law and do not count in the number of votes counted for or against a resolution.

***"Total votes cast" do not include withheld votes.

Total Voting Rights

On Admission, the Company will have 13,818,450,084 ordinary shares of 0.01p each in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of ordinary shares and voting rights will be 13,818,450,084.

The above figure of 13,818,450,084 may be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement shall have the same meaning as in the announcement of 23 February 2021 unless otherwise defined herein.

For further information, please contact:

Vela Technologies plc Brent Fitzpatrick, Non-Executive Chairman James Normand, Executive Director	Tel: +44 (0) 7421 728875
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas / Asha Chotai	Tel: +44 (0) 20 3328 5656
Peterhouse Capital Limited (Joint Broker) Lucy Williams / Duncan Vasey / Eran Zucker	Tel: +44 (0) 20 7469 0930

About Vela Technologies

Vela Technologies (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 listed companies where valuations may offer additional opportunities.

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