24th Jul 2014 12:48
LONDON (Alliance News) - Vela Technologies PLC said Thursday that it had acquired a further 38,314 shares in its investee company Portr for GBP100,000 via the issue of 20 million new shares at 0.5 pence, taking its total interest to 5%.
The vendor of the shares in Portr is John Garner, Vela said. Following the transaction Garner will have a 8.26% interest in Vela.
Vela said that Portr's service AirPortr was launched in London City Airport on May 1, and full operations commenced May 22. The service allows consumers to book luggage transfers between the airport and their end destination.
The company said that the new service has been well received, with performance in line with expectations. Portr is working towards launching the service at one or more additional London airports later in the year.
During the 18 months to December 26, 2013, Portr made unaudited losses of GBP266,000 and as at that date had net liabilities for around GBP1,000.
Shares in Vela last traded at 0.411 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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