Vela Technologies PLC Partial sale of holding in BTL Group Ltd (4529Y)
December 05 2017 - 8:40AM
UK Regulatory
TIDMVELA
RNS Number : 4529Y
Vela Technologies PLC
05 December 2017
5 December 2017
Vela Technologies plc
("Vela" or the "Company")
Partial sale of holding in BTL Group Ltd
The Board of Vela (AIM: VELA), the investing company focused on
early-stage and pre-IPO disruptive technology investments,
announces that, on 4 December 2017, the Company disposed of a total
of 10,000 common shares in BTL Group Ltd ("BTL") at a price of
C$9.15 per share generating gross proceeds of C$91,500 for the
Company (equivalent to GBP53,915.36 at the prevailing exchange
rate*) (the "Disposal"). The net proceeds from the Disposal will
provide the Company with additional working capital and enable the
Company to take advantage of further investment opportunities as
and when they arise.
Following the Disposal, the Company holds 611,666 common shares
in BTL, equivalent to approximately 3.02 per cent. of BTL's current
issued share capital. BTL is listed on the TSX Venture Exchange, on
which the closing mid-market price on 4 December 2017 of BTL's
common shares was C$9.20 per share which values Vela's shareholding
in BTL at approximately C$5.63 million (equivalent to approximately
GBP3.32 million*).
In addition, Vela holds a total of 25,000 warrants in BTL which
are exercisable at a price of C$3.25 for a period expiring on 6
April 2019.
ABOUT BTL GROUP LTD.
Operating from both Canada and the UK, BTL offers blockchain
solutions to businesses across multiple industries, in particular
the finance, energy and gaming sectors. BTL has built prototypes
that showcase the capabilities of its Interbit platform, a
proprietary blockchain based interbank payment network and
settlement and asset trading solution.
Interbit is an open, multi-chain, asset settlement platform with
a suite of APIs and smart contracts that allow businesses from
across the world to provide global access to fast, secure, and
auditable financial and asset trading services.
With offices in Vancouver and Canary Wharf in London, BTL is
positioning itself as a front-runner in the blockchain ecosystem,
providing advice and knowledge to industry leaders.
Website: www.btl.co
Twitter: https://twitter.com/blockchainltd
*Based on the exchange rate of C$1: GBGBP0.5898
For further information, please contact:
Vela Technologies plc
Brent Fitzpatrick, Non-Executive
Chairman Tel: +44 (0) 7802
Antony Laiker, Director 262 443
Allenby Capital Limited
(Nominated Adviser)
Nick Athanas/Katrina Perez/Asha Tel: +44 (0) 20
Chotai 3328 5656
Smaller Company Capital Limited
(Broker)
Rupert Williams/Jeremy Woodgate Tel: +44 (0) 20
3651 2910
This information is provided by RNS
The company news service from the London Stock Exchange
END
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