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£6 top up? 😂 ( only buy printed today)
Can't believe I am writing this but just made a very small top up. Gambling on the CDT price going up and dragging our SP with it.
Yeah the 250m and the 44m on Monday 8th April were sells. They are the shares we paid in consideration for the 'corporate finance advisory fee' to our broker. The 2 sells add up to the exact amount mentioned in the last RNS. So they took circa £35k from their £50k fee. So yes, they took a significant hit, 30% hit to be precise.
Picked up another ten million. Average now 0.0142
Based on the price being around the ATL, 0.012, I think it's safe to assume they took a fair old hit.
All we can hope is if that's what's been contributing to a suppressed sp that it's been cleared now, goodbye to them!
Mr Cooke or Jimmy?
My belief is sells.we cant say if they lost significant ,not knowing their entry price
There was another trade for 44m shares so the thick end of 300m shares either bought or sold at the same time on the 8th April. judging from other trades around the same time it would appear they may be sells though. And yes whoever sold them would have lost a significant amount of money if they were sells.
If it’s a well then whoever it is has surely lost a small fortune.
Was that the reason it wasnt moving up,explains it,buys filling that sell order to balance
intresting
08-Apr-24 15:55:04 0.012 250,000,000 Unknown* 30.00k O
CDT late filing accounts will be hitting sentiment. This is the problem of effectively betting half the company on this one investment. They should ditch it pronto, not just because it's dead in the water and risk of Nasdaq suspension, even if it had decent prospects they should be diversifying more anyway. Cash equivalent from sale would quickly narrow Vela's NAV discount.
There’s a fairly logical thing to do here . Buy and wait . Excepting ENET most of the investments are not being played by the traders and have simply suffered from the general loss of appetite for small caps even though they look like good sound businesses ( SKL, ENSI,CODE,TRYB )….and not forgetting CDT !
Yeah, we have been undervalued based on our our investment value for a very long time. We have been around 50% of asset value until recently when our SP has hit new lows. Ironically as our SP has decreased our investment value has gone up slightly, further contributing to the widening disparity between MCAP and investment value.
At the time of writing out Investment value is circa £5.3m and our MCAP is £1.95m.
We are currently value at 36% of our investment value.
Even if we sold all our investments at a 20% discount to current market prices, the cash proceeds would be over double our Mcap!
Agree that the portfolio is beginning to look a little more interesting with many off their lows. I reckon there are probably 5 shares that need to be got rid off which may also help with the overall value perception.
Typically gone to NT to buy when I want to put some profits from ENET in here !
Agreed! The undervalued sp is not reflective of how well we're doing on paper with the investments
The main point is a lot of our investments are doing way better than they were …Skillcast being another example .
So although the vela SP may have sunk lower than it should have …it’s potential bounce back when people cotton on to how devalued we are could be quite impressive
After some trades, I think current holding is 595,902 @ 58p (unless some sold since last qtr)
Did you pick up on the recent RNS announcing a name change to Finseta (FIN)
https://www.lse.co.uk/rns/CSFS/proposed-change-of-name-to-finseta-plc-il46nlbddq5vrwv.html
thanks ltd, so difficult remembering all our buy in prices and remaining holdings when the website info is so sp****.
Cornerstone buy in was 50p from memory. Seeing it was at 6p not long ago then it’s certainly bounced back. Our ENET holding is not much more than is held by many of the traders playing it again , so I would write that one off as loose change …although it has been good for a dabble today
ENET too.
Big buy of c 5k gbp on top of the biggies here first thing. A slightly better day by Vela’s low standards.
Cornerstone flying!
Yes some decent buying first thing at a very low price. The smaller Vela investments are doing well, CDT will have news, but for this last quarter the report will I guess focus on some tiny sell offs and news of those portfolio businesses that are doing well. Let’s see ( in 6 to 12 weeks ).
With financial year end on 30/03 they will have had to present the accounts as a going concern, so you'd think leading up to that would be moment they sold some CDT. It would be insane to sign off year end accounts with cash balance in dangerously low £60k region reported in Feb, when had this liquid asset on hand.