The Board of Vela is pleased to announce that the Company’s joint broker, Peterhouse Capital Limited, has today placed the entirety of St. George Street Capital’s (“SGSC”) 1,100,000,000 shares with a range of new and existing investors.
As previously announced on 9 September 2021 and following the successful results of the ARCADIA trial, the lock-in period for SGSC’s shareholding ended on 10 September 2021.
The Vela Board would like to express its thanks to SGSC for helping to facilitate the placing of its existing shares and acknowledges the support shown in the Company by those existing and new investors who have acquired these shares.
We understand from SGSC that, following the successful results of the ARCADIA trial released last week, it has begun commercial discussions with potential licensees of AZD1656 and will be using the proceeds from the sale of its Vela shares to develop several new innovative-drug programmes.
The TR-1 received from SGSC earlier today is set out below in full without amendment.
For further information, please contact:
Vela Technologies plc
Brent Fitzpatrick, Non-Executive Chairman
James Normand, Executive Director
Tel: +44 (0) 7421 728875
About Vela Technologies
Vela Technologies (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. There are currently 5 investments in the portfolio which either have developed ways of utilising technology or developing technology with a view to disrupting the businesses or sector in which they operate. More recently, Vela Technologies has also started to focus on existing listed companies where valuations may offer additional opportunities.
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