16th Apr 2015 11:39
LONDON (Alliance News) - Vela Technologies PLC Thursday said it expects "increased visibility" for some of the investments it holds that are not listed on public exchanges over the next 12 months.
Vela, which invests in young companies and technology it deems to be promising, said it is "hopeful" that it will receive news of contract wins, as well as "expansion and liquidity events" in some of the companies it has invested in.
"In tandem with this we expect that, as these investments mature, Vela will be better placed to update shareholders as certain investee companies come through their early development phase," the investor added.
Vela said that its existing investments aren't its only area of focus, making clear that it plans to make new investments.
"The disruptive technology sector is alive with new and innovative ideas and products. Investors may be familiar of terms such as 'Fintech' and the 'sharing economy' as well as the continued strong attention being given to 'Bitcoin'," Chairman Brent Fitzpatrick and Executive Director Antony Laiker said in a statement.
"There are many UK-based companies operating in these areas that could be attractive investment opportunities for Vela. We are currently at an early stage of evaluating a couple of such opportunities which will need to satisfy our requirement for being disruptive but also be easy to understand, have strong growth prospects and a clear exit strategy," the directors added.
Vela shares were up 2.9% at 0.175 pence on Thursday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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