Vela Technologies PLC - Bingley, England-based company with investments in early-stage disruptive technology businesses - Sells entire 272,000 share holding in BlockchainK2 Corp at prices between GBP0.49 and GBP0.88 per share, with an average price of GBP0.69, generating net proceeds of GBP186,390. Vela notes it originally invested GBP200,589 in BlockchainK2 in May 2018, but book value as at March 31 last year was GBP14,396, meaning accounts for Vela's current financial year ending March 31 will reflect a profit on disposal of GBP172,000.
Says net proceeds will be used to make further investments in line with Vela's investing policy and for general working capital purposes.
Current stock price: 0.078 pence, down 5.3% on Friday
Year-to-date change: down 2.4%
By Zoe Wickens; zoewickens@alliancenews.com
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Vela Technologies (VELA)