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CIZ is heading for the 3s then the skies.
Someone has sold a few hundred CDT shares and the price drops 10%. Go figure!
No need to as the SP will eventually be double that. Bu5 yes of course buying now at this lower point will be more beneficial. GLA.
I agree, just snuck in another 5.7m
Yeah could be. The way i see the state of play currently is :
We have an MCap of £3.25m and investments totalling a combined value of circa £6.1m. (at time of writing)
VELA has no debt but also no cash! Most of our historical investment have bottomed out and hopefully will start going the same way as CSFS and see an upward movement BUT the most important of all is the CDT investment which still currently sits at a value of c. £3.6m which in itself is more than our MCap!
Obviously Chris Cooke sees the value and has continued to buy so lets join him!
Buying opportunities galore whilst things are so cheap. Economy picking up and even AIM shares may pick up soon.
Down 25% now……….
Hi postie could you re-word please, I’m not fully getting your meaning?
Holdings or some will not be sold anywhere $5
If we are part of the selling activity this afternoon at CDT, I do hope we are not selling too quickly or too cheaply. Dropping rather too fast for my liking.
400k @ 50p = £200k add 245,902 @ 61p * less 50k @ 14,2p = Current Holding 595,902 @ 58p effective breakeven price.
Thks @SmallPotatoes. @THG, forgot about those warrants, could come into play one day.
*[Half Year Report 31 Dec 21] - In April 2021, the Company completed the subscription for 245,902 new ordinary shares in Cornerstone for a cost of £150,000 as part of Cornerstone's admission to AIM.
Yeah that's all I can find. I make our holding in CSFS worth circa £180k now.
I make our Mcap - £3.364m
Our investments Value - £6.5m
(all at time of writing)
If all goes well in the next 6 months we could sell some CDT for decent profit, hopefully CSFS carries on and passes 50p and more and we could exercise some warrants there with some of the money?
From the Financial Statement 31.03.2023
'Part disposal of investment in Cornerstone FS PLC (“Cornerstone”)
In July 2022 the Company disposed of 50,000 shares in Cornerstone at a price of 14.2p per share, generating gross
proceeds of £7,115. Following the disposal Vela remained interested in 595,902 shares representing 1.2% of the issued
share capital at the period end.'
I can't find any more sales (yet) after this, but will keep researching...
Yeah will do the same Dave and see if we come to a similar figure. Whilst ging through i noticed this:
In December 2020 Vela invested £200,000 in Cornerstone in a private placing by subscribing for 400,000 new ordinary shares of 1 penny each at a price of 50 pence per ordinary share, thus valuing Cornerstone at £8.3 million. Additionally, Vela received 400,000 warrants with a 5-year term, each warrant carrying the right to subscribe for one Cornerstone share at a price of 50 pence.
So if CSFS can continue on its current trajectory these warrants could come into play for us.
I make it 595,902 but can't remember how I got there. As you say there has been some buys/sells so not sure what the average cost is currently. Will try and check a little later.
Great interview with James Hickman https://www.youtube.com/watch?v=qRJFLpSpHkw&ab_channel=VoxMarkets
Anyone know how many shares we have in CSFS anymore? They have sold a few times so not sure how we are left with.
Yes CSFS looking strong and expecting a big year from them.
Looks like @Bagmann was wrong and @Patviera called is correctly!
GLA
Doing very well
Short term it’s all about CDT
Medium term it’s the portfolio and next few investments
Long term a strategy for a volatile world OR a decision to end the journey and distribute to shareholders.
Sorry postman but I agree with THG, we sold the interest in exchange for CDT shares which we now sell at considerable profit. That is the gain. Hopefully the drug is commercialised for the benefit of the world but the only impact for Vela will be moral.
Thought that was both, dodgy research on myself then will have a look in a bit, if it is one or the other or both could be worth a few quid, have a good night
Okay. We don't.
''the Company has exercised the put option agreement to sell its economic interest in the commercialisation of the Covid-19 application of AZD1656 (the "Economic Interest") to Conduit Pharmaceuticals Inc. ("Conduit"), a company listed on the Nasdaq Global Market in the United States ("NASDAQ").''
I'm confused on what you thought CDT gave us £4m worth of shares for if we still kept the royalties?!
Yes
I'm not sure. Your answers aren't actually answering anything. Do you think VELA still get 8% royalties if AZ1656 gets commercialised?