Reduction of Share Premium

RNS Number : 6320K

Vela Technologies PLC

31 July 2013

 



VELA TECHNOLOGIES PLC

("Vela Technologies" or the "Company")

Reduction of Share Premium

The Company announces that following the General Meeting held on 11 July 2013, the Capital Reduction was confirmed at the final Court hearing which took place on 31 July 2013. The Capital Reduction which requires registration at Companies House of the relevant Court order, together with a statement of capital, is expected to take effect on 1 August 2013.

Following the Capital Reduction both classes of Deferred Shares and the balances standing to the credit of the share premium account and the capital redemption reserve of the Company will have been cancelled. The balance on the share premium account will include for this purpose any additional share premium arising before 31 July 2013. The Capital Reduction will be sufficient to write off the entirety of the deficit on its profit and loss account, and create a small positive balance.  Following the Capital Reduction, there will be no change in the number of Ordinary Shares in issue.

For further information, please contact:

Vela Technologies plc Brent Fitzpatrick Non-Executive Director	Email: [e-mail]
ZAI Corporate Finance Limited Nomad Peter Trevelyan-Clark / Wei Wang	Tel: [phone]
Peterhouse Corporate Finance Limited Broker Eran Zucker	Tel: [phone]

 

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