TIDMVELA

RNS Number : 9560S

Vela Technologies PLC

14 March 2023

14 March 2023

Vela Technologies plc

("Vela" or "the Company")

Investment in EnSilica plc

The Board of Vela (AIM: VELA), an AIM-quoted investing company focused on early stage and pre-IPO disruptive technology investments, announces that the Company has invested GBP125,000 in EnSilica plc ("EnSilica") through the purchase of 178,572 ordinary shares. The investment has been made as part of a GBP2.0 million placing undertaken by EnSilica, details of which were announced by EnSilica on 9 March 2023.

Further information on EnSilica

EnSilica is a leading fabless design house focused on custom ASIC design and supply for OEMs and system houses, as well as IC design services for companies with their own design teams. EnSilica has world-class expertise in supplying custom RF, mmWave, mixed signal and digital ICs to its international customers in the automotive, industrial, healthcare and communications markets.

EnSilica also offers a broad portfolio of core IP covering cryptography, radar, and communications systems. EnSilica has a track record in delivering high quality solutions to demanding industry standards. EnSilica is headquartered near Oxford, UK and has design centres across the UK and in India and Brazil.

For the year ended 31 May 2022, EnSilica reported revenue of GBP15.3 million and a loss before taxation of GBP0.5 million. EnSilica's unaudited net assets as at 30 November 2022 were GBP12.6 million.

Details of the investment and update on shareholding in EnSilica

Vela has purchased 178,572 ordinary shares of 0.1p each in EnSilica, at a price of 70 pence per share for a total cost to the Company of GBP125,000, satisfied from the Company's existing cash resources.

Settlement of Vela's investment took place earlier today, in accordance with the details announced by EnSilica on 9 March 2023.

Vela's investment is part of a placing for EnSilica that successfully raised GBP2.0 million (before expenses) for the company.

Since the Company announced its updated shareholding in EnSilica on 6 December 2022, the Company has also disposed of 265,000 shares in EnSilica at an average price of 90 pence per share between 9 December 2022 and 20 February 2023.

Following the investment announced today, and taking into the share sales detailed above, Vela holds 1,109,707 ordinary shares in EnSilica representing 1.42 per cent. of EnSilica's current issued share capital.

For further information, please contact:

 
 Vela Technologies plc                         Tel: +44 (0) 7410 
  Brent Fitzpatrick, Non-Executive Chairman     886830 
  James Normand, Executive Director 
 Allenby Capital Limited (Nominated Adviser)   Tel: +44 (0) 20 3328 
                                                5656 
 Nick Athanas / Piers Shimwell 
 
   Peterhouse Capital Limited (Broker)           Tel: +44 (0) 20 7469 
                                                 0930 
 Lucy Williams / Duncan Vasey / Eran Zucker 
 
   Novus Communications (PR and IR Adviser)      Tel: +44 (0) 20 7448 
                                                 9839 
 Alan Green / Jacqueline Briscoe

About Vela Technologies

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.

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March 14, 2023 10:57 ET (14:57 GMT)

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