VELA TECHNOLOGIES PLC

Share Issue/Capital Change • Sep 29, 2020

National Storage Mechanism | Additional information

RNS Number : 4475A

Vela Technologies PLC

29 September 2020

29 September 2020

Vela Technologies plc

("Vela" or the "Company")

Exercise of warrants and issue of equity

The Board of Vela (AIM: VELA) announces that it has made an application to the London Stock Exchange for the admission to trading on AIM ("Admission") of 107,499,999 new ordinary shares of 0.01p in the Company ("New Ordinary Shares").

The New Ordinary Shares are being issued pursuant to the exercise of warrants to subscribe for new Ordinary Shares at a price of 0.06p per Ordinary Share, generating proceeds of £64,500 for the Company. The proceeds from the warrant exercises will provide additional funding for Vela to identify, evaluate and make investments in accordance with its investing policy.

The warrants were issued as part of the placing of new Ordinary Shares completed in conjunction with, inter alia, the disposal of certain of Vela's assets and share capital reorganisations in August 2020.

The New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares and Admission is expected to become effective on 5 October 2020.

Total Voting Rights

From Admission the issued share capital of the Company will consist of 8,714,327,826 Ordinary Shares, with one voting right per share. As the Company does not hold any Ordinary Shares in treasury, the total number of Ordinary Shares and voting rights in the Company will be 8,714,327,826.

From Admission, the above figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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/Asha Chotai
Peterhouse Capital Limited (Joint Broker)	Tel: +44 (0) 20 7469 0930
Lucy Williams / Duncan Vasey / Eran Zucker

About Vela Technologies   

Vela Technologies (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. There are currently 5 investments in the portfolio which either have developed ways of utilising technology or developing technology with a view to disrupting the businesses or sector in which they operate. More recently, Vela Technologies has also started to focus on existing listed companies where valuations may offer additional opportunities.

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