Lifting of Suspension, Placing & Appointment of Director

VELA TECHNOLOGIES PLC - Lifting of Suspension, Placing & Appointment of Director

PR Newswire

London, January 24

Further to the announcement on 13 August 2012 when trading in the Company'sshares was suspended, the directors of Vela Technologies are pleased toannounce that trading on AIM for the above-mentioned securities will resumefrom 8.00 am on 25 January 2013. Shares of Vela Technologies will now beidentified under the following codes.

On 24th December 2012, the Company announced that "Peterhouse Corporate FinanceLimited has placed 67,400,000 new Ordinary Shares (the "Placing Shares") at aprice of 0.5 pence (the "Placing Price") raising £337,000 before expenses (the"Placing").

Adrian Moss and Spratt Ebako, employees of the Company, agreed to subscribe to7,400,000 Placing Shares amounting to £37,000 at the Placing Price. Settlementof these 7,400,000 Placing Shares will be delayed until completion of the CVA."

Application has been made to the London Stock Exchange for the 60,000,000Placing shares to be admitted to trading on AIM. It is expected that theadmission will become effective and that trading in the new Shares willcommence on 25th January 2013 ("Admission"). The Company will make anadditional announcement regarding the issue of the remaining 7,400,000 sharesin due course.

Vela Technologies is pleased to announce the appointment of Antony Jon Laikeras Director of the Company with immediate effect.

Antony, aged 51, is a stockbroker at First Equity Limited and has been activeas an advisor and early-stage investor in numerous companies undergoingreorganisation.

Antony is currently a director of Widdington Limited and Squosh Limited.

No further information is required for disclosure in respect of Rule 17 orSchedule 2 paragraph (g) of the AIM Rules for Companies.

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