VELA TECHNOLOGIES PLC

Legal Proceedings Report • Sep 6, 2021

National Storage Mechanism | Additional information

RNS Number : 7565K

Vela Technologies PLC

06 September 2021

6 September 2021

Vela Technologies plc

("Vela" or "the Company")

Update re. St George Street Capital Limited COVID-19 trial

Further to the update released by Vela on 18 August 2021, which noted that the ARCADIA clinical team would publish a report on the results of the clinical trial to test SGS002 ("the Asset") on 6 September 2021, the Board of Vela has been informed by St George Street Capital Limited ("SGSC") that it now intends to publish the results of the trial no later than 10 September 2021.

The Asset is a drug that could be beneficial to diabetic patients suffering from COVID-19 and SGSC is working closely with Excalibur Medicines Limited ("EML") on the research project.

Details of Vela's economic interest in the potential commercialisation of the Asset, the Asset and the ARCADIA trial were included in the announcement published by Vela on 20 October 2020.

SGSC holds 1,100,000,000 ordinary shares in Vela, representing 7.13 per cent. of Vela's issued share capital. SGSC's ordinary shares are subject to a lock-in agreement until the successful completion of Phase II of the ARCADIA trial, or for a period of two months following completion of the ARCADIA trial, should the outcome of the trials not meet the minimum threshold.

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)	Tel: +44 (0) 20 3328 5656
Nick Athanas / Piers Shimwell
Peterhouse Capital Limited (Joint Broker) Lucy Williams / Duncan Vasey / Eran Zucker	Tel: +44 (0) 20 7469 0930

About Vela Technologies plc   

Vela 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDZZGGLFKDGMZM