12th May 2014 14:07
LONDON (Alliance News) - Vela Technologies PLC Monday said it has invested a further GBP50,000 in its investee company Portr.
In a statement, the investing company focusing on early stage and pre-initial public offering
technology investments, said it made the investment through a cash subscription for 17,235 new shares as part of a GBP500,000 funding round by Portr at a price of some 290 pence per share.
Vela's participation brings its total investment in Portr to GBP100,000, with an enlarged shareholding of 49,731 shares, representing approximately 2.9% of Portr's enlarged issued share capital.
The additional investment by Vela follows the launch by Portr of its service at London City Airport on May 1. With full operations expected to commence on May 22, the service is designed to enable visitors to London to book luggage transfers between their destination airport, hotel, serviced
apartment or office.
By Samuel Agini; [email protected]; @samuelagini
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