26th Aug 2020 10:12
(Alliance News) - The suspension of trading in Vela Technologies PLC shares was lifted on Wednesday after the tech investor completed a capital restructure.
Vela shares were down 43% at 0.040 pence on AIM in London in morning trading.
Vela on Monday got approval from share and bond holders for disposal of some assets, plus a share capital reorganisation and the conversion of GBP550,000 of outstanding bonds to shares, as well as a GBP1.0 million share placing.
The Bingley-headquartered company's suspension on AIM was lifted with bond conversion shares, placing shares, fee shares, broker shares, and new ordinary shares all admitted to trading. Following admission, Vela has 7.17 billion shares in issue.
Further to a July 31 announcement, Antony Laiker has stepped down as company director with James Normand appointed executive director with immediate effect. Vela plans to appoint another director by the end of 2020.
Chair Brent Fitzpatrick said: "I would like to take this opportunity to thank Antony for his hard work and contribution to the company over the years, and wish him well with his future endeavours."
By Anna Farley; [email protected]
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