25 June 2014 – acquisition
The group has expanded its operations with the acquisition of Pinto Energy, one of the leading smaller scale gas-to-liquids project developers in the US. This will facilitate expansion in the North American market and will also provide complementary skills and business synergies to the group. Initial consideration for the acquisition will be satisfied by the issue of 955,977 shares in Velocys subject to certain conditions with additional consideration which may become payable also to be satisfied by the issue of new shares. The shares have done well since they were originally tipped at 160p in March but they remain ATTRACTIVE.