7th Jan 2022 17:37
Vela Technologies PLC - Bingley, England-based investment firm focused on technology - Partially sells interest in Manchester-based training programme software provider Northcoders Group PLC for GBP182,500 in total.
On Wednesday, Vela disposed of 25,000 shares for GBP2.40 per share, and on Thursday, sold 50,000 shares for GBP2.45 each.
Following the sale, Vela now holds 341,666 shares in Northcoders, and proceeds from the stake sale will go towards further investments.
"The increase in Northcoders' share price has borne out Vela's assessment of Northcoders at the time of its investment in July. The investment has increased in value by more than 40% in less than six months. Vela has taken advantage of unsolicited approaches in order to lock in part of this gain. It remains, however, a supportive and committed investor in Northcoders; and is confident that, as appreciation of Northcoders' business model broadens within the investment community, Vela's residual holding will continue to form a profitable part of Vela's investment portfolio," says Executive Director James Normand.
Current stock price: 0.042 pence
Year-to-date change: down 60%
By Dayo Laniyan; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Vela TechnologiesNorthcoders Grp