Member Info for aceinvestor

It's CNGAF

https://services.gov.im/ded/services/companiesregistry/viewcompany.iom?Id=sGyQZNkdGVlSVc5MT1SyuA%3d%3d

Some documents available to pay for, may give you more info.

I see this off the market now.

Good grief! How sad.

The company is DG Innovate so search for that.

CDT moving around a lot pre-market. $16.22 as I write.

Oh yes, thanks. So he bought it personally. One wonders why it was allowed to almost be struck off if they own a good asset.

Conduit refers to an SPV but I think that is a while ago. But nothing in the accounts for EML.

"Conduit raised £10.3m through an SPV with Excalibur Medicines Limited including a £3m grant from UK Research & Innovation (UKRI)"

There is an error in the information about EML because it is no longer owned by Excalibur Healthcare Services which changed its name and is now in voluntary liquidation. They actually divested their shareholding in EML on the 23rd of March. I assumed to EDX Medical Group but can't confirm that. Otherwise, EML is just left as an entity that owns rights to AZD1656. Igraine should explain or perhaps Chris Evans should explain!

The first of many today I suspect!

I don't think they expected it to be above $15 so that would be a massive bonus. I'm sure we have seen the way 10 vwap works with that death spiral finance and this time we are on the right side!

Jdt - in the sec filing

https://www.sec.gov/Archives/edgar/data/1896212/000149315223027856/form424b3.htm

Just search for vela but the important bit is this:

On April 20, 2023, Conduit entered into an agreement with Vela Technologies PLC (“Vela”) which granted Vela the right, but not the obligation, to sell its 8% royalty interest in the Covid Asset back to Conduit (the “Vela Put Option”). In accordance with the Vela Put Option, Vela paid a one-time, non-refundable option fee to Conduit of $0.5 million (£0.4 million). Total consideration payable to Vela upon exercise of the Vela Put Option is $4.8 million (£4.0 million) worth of shares of New Conduit common stock, following the consummation of the Merger at a price per share equal to the volume-weighted average price per share over the ten (10) business days prior to the date of the notice of the exercise of the option. The Vela Put Option contains a provision that in no event shall the price per share for the consideration shares be lower than $5 or higher than $15. The option is exercisable in whole at any time from the close of the Merger (the “Effective Time”) until the earlier of (i) the date that is six (6) months from the Effective Time, and (ii) February 7, 2024.

The issue price of the shares is based on a 10 day vwap. That is any 10 days from Friday to Feb of Vela's choosing. So it could be worth a lot more than £4m. The maximum price being $15.

I see pre-market murf is above $15.

The price of the shares will be worked out using VWAP over the 10 days prior to the exercise of the option. There is a proviso that the price must not be less than $5 or more than $15. I guess vela benefit if the price shoots up to $30!

It is in the prospectus, all holdings are in nominee accounts with a note 1 and note 1 is

Shares are held in a nominee account with no beneficial holder owning 3% or more of the issued share capital

No one has more than 3%. But OTT is owed money which will be paid in shares.

I can't see the prospectus, yet!

10,000 to 1 consolidation seems reasonable.

Igraine still holds 10% of Oscillate. I can't see a date for the AGM so seemed a bit premature to dump the Igraine shares. Paul Johnson I assume is the director of Fixit and Larvotto so maybe he is looking to reverse into Igraine in the future or just thought it a good investment with the Conduit situation. Which it could be!

Https://www.sec.gov/ix?doc=/Archives/edgar/data/1896212/000149315223025880/forms-4a.htm

And closer. Lots of reading there.

Looks like this is moving forward.

https://www.sec.gov/Archives/edgar/data/1896212/000149315223025268/ex99-1.htm

Paul Johnson it seems.

https://www.investegate.co.uk/announcement/prn/igraine-plc--king/holding-s-in-company/7642774