Vela Technologies PLC Update re. investment in Igraine plc via CLN
13 Dicembre 2024 - 8:00AM
RNS Regulatory News
RNS Number : 9308P
Vela Technologies PLC
13 December 2024
13 December
2024
Vela Technologies
plc
("Vela" or "the
Company")
Update re. investment in
Igraine plc via convertible loan note
Further to the Company's
announcement of 21 October 2024 (the "Announcement"), the Board of Vela
(AIM:VELA), an AIM-quoted investing company focused on early-stage
and pre-IPO disruptive technology investments, announces that,
following the passing of all resolutions at the annual general
meeting of its investee company, Igraine plc ("Igraine"), held on 29 November 2024 and
Igraine entering into its exclusive investments rights agreement
with GEM Energia Limited ("GEM
Energia"), Vela has paid £50,000 to Igraine as the first
drawdown of the up to £500,000 unsecured convertible loan note
facility granted to Igraine by Vela (the "Facility").
Following this drawdown, £450,000
remains outstanding pursuant to the Facility on the terms set out
in the Announcement. Vela's obligation to provide further funding
pursuant to the Facility is capped at £150,000 and the provision of
the remaining £300,000 balance is at Vela's discretion.
Vela also notes the announcement
made by Igraine earlier today providing an update to its
shareholders on the exercise of its investment rights with GEM
Energia and a strategic partnership that
Igraine has entered into with BES3 Holdings Ltd for its first
development site in the North West of England.
For further information,
please contact:
Vela Technologies plc
Brent Fitzpatrick, Non-Executive
Chairman
James Normand, Executive
Director
|
Tel: +44 (0) 7950 389469
|
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
|
|
|
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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