Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Vela Technologies surges as it increases stake in owner of blockchain development platform

BTL has created an enterprise-grade private blockchain development platform called Interbit
bitcoin etc
Vela's stake in BTL is approximately C$6mln (equivalent to approximately £3.54mln)

Vela Technologies (LON: VELA) has bought 15,000 in BTL Group Ltd at an average of C$10.1966 per share, increasing it's stake in the company to 2.90%.

AIM-listed Vela, which backs early-stage companies that have disruptive technology, paid C$152,949 for it's recent purchase.

BTL is listed on the TSX Venture Exchange and it's closing mid-market price on December 22 was C$10.09 per share, valuing Vela's stake in BTL at approximately C$6mln (equivalent to approximately £3.54mln).

Operating globally, BTL has created an enterprise-grade private blockchain development platform called Interbit. Together with a growing list of global partners, the Interbit platform offers blockchain solutions to businesses across multiple industries.

Vela also holds a total of 25,000 warrants in BTL which are exercisable at a price of C$3.25 for a period expiring on 6 April 2019.

In mid-morning trading, Vela shares were up 20.74% at 1.15p.

View full VELA profile View Profile

Vela Technologies Timeline

Related Articles

9 Spokes smart phone screen
April 03 2018
The onboarding rate of small business onto the platform continues to accelerate as banking partners adoption increases.
Burning wood pellet
April 30 2018
The company said full-year revenue would be a third higher than previously forecast, with fuel demand likely to have risen steeply with the recent UK cold snaps
1515684629_Universal-mCloud-pic-1.jpg
January 11 2018
Universal mCloud's technology set services some of the biggest companies in the world

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use