Vela Technologies PLC Update on investment in 3Legs Resources plc (1699N)
May 14 2015 - 4:50AM
UK Regulatory
TIDMVELA TIDM3LEG
RNS Number : 1699N
Vela Technologies PLC
14 May 2015
14 May 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,
announces that the Company acquired a further 4,500,000 existing
ordinary shares in 3Legs Resources plc ("3Legs") (AIM: 3LEG) on 13
May 2015 at a price of 0.215 pence per share.
Vela's resultant holding in 3Legs is 23,500,000 shares,
representing 5.42% of the total voting rights of 3Legs. 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. As part of the above
reorganisation, 3Legs raised GBP800,000 through a subscription for
new ordinary shares at a price of 0.232 pence per share, which
valued 3Legs at approximately GBP1 million with the funds to be
used by 3Legs in connection with the implementation of the new
investing policy.
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
Nick Athanas/Katrina Perez/James Tel: +44 (0) 20 3328 5656
Reeve
This information is provided by RNS
The company news service from the London Stock Exchange
END
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