If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksVela Technologies Share News (VELA)

Share Price Information for Vela Technologies (VELA)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.0115
Bid: 0.011
Ask: 0.012
Change: -0.001 (-8.00%)
Spread: 0.001 (9.091%)
Open: 0.0125
High: 0.0125
Low: 0.0115
Prev. Close: 0.0125
VELA Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Vela Technologies reports fall in total assets

Fri, 23rd Feb 2024 13:03

(Sharecast News) - Early-stage technology investor Vela Technologies said in an update on Friday that its total assets, including cash, decreased by £0.64m or 9% during the December quarter, amounting to £6.18m.

The AIM-traded firm said that marked a swing from the prior quarter's increase of £0.94m, or 16%, to £6.82m.

Its portfolio comprised 15 active investments, consistent with the prior quarter, and of those, two were unquoted and 13 were quoted.

Notably, Vela divested its investment in St George's Street Capital to Conduit Pharmaceuticals during the quarter, receiving 1,015,760 Conduit shares in exchange.

That investment, previously held as a financial asset, was now classified as an asset held for resale.

The fair value of Vela's investment portfolio stood at £6.17m, slightly lower than the prior quarter's value of £6.79m.

Vela said the change in the portfolio's value reflected the disposal of investments valued at approximately £40,000, resulting in a realised loss of £3,000, alongside a net unrealised decrease in fair value amounting to £0.58m.

That contrasted with the prior quarter's net unrealised gain of £1.04m.

Vela's cash balance at the end of December was £6,000, down from £30,000 at the end of the prior quarter.

As of Friday, Vela's cash balance stood at approximately £60,000.

"Much of the £0.9m+ leap forward in the value of Vela's investment portfolio in the September quarter has been reversed in the December quarter," said executive director James Normand.

"Vela's investment in EnSilica, a highly rated business, perversely fell in value by a third - though it has since recovered a good part of that drop - while Conduit's value is similarly a fraction of the price at which it listed in September."

Normand said Vela's performance and position remained impeded by the continued lack of confidence in the public markets generally, particularly in the small cap markets in which the firm is largely invested.

"Although Vela's investments are for the most part in listed stocks, there is little activity in these stocks and so their market values do not reflect our opinion of their true worth."

At 1233 GMT, shares in Vela Technologies were up 3.33% at 0.02p.

Reporting by Josh White for Sharecast.com.

More News
31 Dec 2021 09:09

IN BRIEF: Vela Technologies upbeat on future despite widening loss

IN BRIEF: Vela Technologies upbeat on future despite widening loss

Read more
30 Dec 2021 13:59

IN BRIEF: Vela Technologies proposes 50-into-1 share consolidation

IN BRIEF: Vela Technologies proposes 50-into-1 share consolidation

Read more
14 Dec 2021 21:51

IN BRIEF: Positive results for Covid-19 treatment boosts Vela

IN BRIEF: Positive results for Covid-19 treatment boosts Vela

Read more
14 Dec 2021 10:47

AIM WINNERS & LOSERS: Bad Black Friday for Joules; Cohort's Chess pain

AIM WINNERS & LOSERS: Bad Black Friday for Joules; Cohort's Chess pain

Read more
1 Dec 2021 16:38

IN BRIEF: Shares in e-learning firm Skillcast rise 14% on AIM debut

IN BRIEF: Shares in e-learning firm Skillcast rise 14% on AIM debut

Read more
1 Dec 2021 11:02

AIM WINNERS & LOSERS: Vela Tech rises as Skillcast AIM debut goes well

AIM WINNERS & LOSERS: Vela Tech rises as Skillcast AIM debut goes well

Read more
17 Nov 2021 20:31

Vela and Primorus Investments note Boanerges takeover of WeShop

Vela and Primorus Investments note Boanerges takeover of WeShop

Read more
30 Sep 2021 11:21

TRADING UPDATES: Avation wings clipped by virus; Zaim swings to profit

TRADING UPDATES: Avation wings clipped by virus; Zaim swings to profit

Read more
17 Sep 2021 14:53

TRADING UPDATES: Oilex plans Cambay wells; eEnergy buys UtilityTeam

TRADING UPDATES: Oilex plans Cambay wells; eEnergy buys UtilityTeam

Read more
9 Sep 2021 12:05

IN BRIEF: Vela Technologies Covid-19/diabetes drug trials successful

IN BRIEF: Vela Technologies Covid-19/diabetes drug trials successful

Read more
6 Sep 2021 15:52

Vela confirms slight delay to Arcadia clinical trial report

(Sharecast News) - Vela Technologies announced a delay to the results of the clinical trial of 'SGS002' on Monday, to 10 September.

Read more
1 Sep 2021 14:07

EXECUTIVE CHANGES: Next adds SEGRO CFO to board as non-exec director

EXECUTIVE CHANGES: Next adds SEGRO CFO to board as non-exec director

Read more
5 Aug 2021 11:35

Cornerstone FS awarded e-money institution status by UK regulator

Cornerstone FS awarded e-money institution status by UK regulator

Read more
23 Jul 2021 21:13

IN BRIEF: Vela Technologies in advanced stages of appointing director

IN BRIEF: Vela Technologies in advanced stages of appointing director

Read more
23 Jul 2021 13:03

Vela Technologies in 'advanced states' of new director appointment

(Sharecast News) - Vela Technologies updated the market on its intention to add another director to the board on Friday, saying it was in the "advanced stages" of appointing an executive director.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.