Update re proposed board appointment

RNS Number : 2070G
Vela Technologies PLC
23 July 2021
 

23 July 2021

 

Vela Technologies plc

("Vela" or "the Company")

 

Update re proposed board appointment

 

The Board of Vela (AIM: VELA) announces that, following on from the announcement released by the Company on 31 July 2020 and the update provided by the Company on 23 February 2021 that it intended to appoint a further director to the Board, it is in advanced stages of appointing an executive director. The Board anticipates completing this appointment by the end of August 2021.

The proposed board appointment remains subject to approval from the Company's nominated adviser and completion of the customary due diligence process to satisfy itself as to board composition and independence and the suitability of a proposed director for the purposes of the AIM Rules for Nominated Advisers.

As previously announced, the Company had intended to strengthen the Board through the appointment of a further non-executive director. However, discussions regarding the previously identified non-executive candidate did not materialise into a board appointment. Notwithstanding the proposed appointment of an additional executive director to the Board, the Company still intends to appoint a further non-executive director to the board in due course.

Further announcements will be made at the appropriate time with regards to the proposed board appointments.

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 / Piers Shimwell

 


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. 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 listed companies where valuations may offer additional opportunities.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDSEMFWEEFSEFW
UK 100

Latest directors dealings