Hand sanitizer and surface cleaner company Byotrol had a strong 2020 and are confident about 2021 Watch Now
But let us end on a happy note!
Following the period end, a number of changes have taken place. As announced in July 2020 and August 2020, the Company disposed of certain of its assets and investments and completed two share capital reorganisations. As part of this transaction, Vela facilitated the conversion of £550,000 bonds into equity, completed a fundraise of £1.0 million via Peterhouse Capital and appointed James Normand as Executive director. As part of the transaction Antony Laiker resigned from the board of Vela. On completion of the transaction the Company retained its interests in five investments (being North Peak Resources, WeShop, BlockchainK2 Corp, Revolve Performance and Disruptive Tech Limited) and had net cash resources of c.£890,000. Subsequent to the completion of the transaction, Vela has received a further c.£860,000 of cash as a result of warrant exercises undertaken by certain of the placees from the aforementioned £1.0 million placing, which has further bolstered the company's balance sheet.
As a result of these changes, the company and its shareholders can look forward to a much brighter future. We continue to implement our investing policy of identifying and making a range of investments within the technology field and remain open to various investment opportunities.
for the year ended 31 March 2020
During the financial year, Vela was presented with a number of opportunities including a prospective corporate transaction which unfortunately was a victim of the restrictive Covid19 lock down earlier this year.
At the beginning of the financial year the company raised £400,000 with a warrant attached for every 4 placing shares subscribed for by investors. The funds enabled Vela to invest a further £91,341 in to Portr, the baggage handling group in which the company was already a minority shareholder, and to redeem certain outstanding convertible unsecured loan notes.
In May 2019, Argo Blockchain announced a strategic alliance with HIVE Blockchain Technologies Ltd ("HIVE") to create the world's largest purpose-built business-to-business mining service provider aimed at large-scale enterprise with a conditionally agreed share swap arrangement, by which Argo would receive 16,321,281 HIVE common shares, representing 5% of the existing outstanding share capital in exchange for 44,062,500 ordinary shares in Argo, representing 15% of Argo's existing issued share capital.
During February 2020, the company successfully renegotiated the terms of its then outstanding £550,000 bond supported by the security trustee and principal bondholders. Vela was able to extend the repayment date on the bonds by 6 months to August 2020 whilst it continued discussions at that time with a view to effecting a corporate transaction, which would result in a substantial investment or an acquisition to utilise Vela as a reverse takeover vehicle. As noted above this transaction did not proceed due to the impact of COVID-19.
The outlook altered as we entered the new financial year with the Covid-19 tsunami which engulfed several companies. Vela was not immune and our investments in Portr and Vibe bore the brunt of lock down. Portr was severely impacted by the lack of air travel whilst Vibe suffered through the closure of entertainment venues both indoors and out. As outlined below the Company disposed of certain of its investments following the period end, including Portr and Vibe.
apunter2 - I'm glad you have cleared this up with FACTS. It would have been nice if you would have posted earlier, I imagine you were probs working though. But posting now does render all of calamari's hard deramping work today utterly USELESS! Which is quite funny. Enjoy your evening
Lew82 - google what an option is and watch a video, i believe someone posted some youtube links below. It sounds like you are a bit neg and getting impatient waiting for promised RNSs, to do what when they land? Sell? SYME is about the longer game, please do some research. What AZ has done today suggests with extreme confidence (£1.1m worth of confidence) that he believes the SP will be over 0.86p by year end.
jefff - The seller of the option has just made £1.1m (the premium price charged to AZ). Whether it goes through or not is irrelevant to them. They sold their financial product and made their money, they are not currency holding the shares.
£1.1 million is the premium. At year end if the stock price is higher than 0.6945p he is aloud to buy 630,000,000 shares but at the actual price of £4,375,350. Add that to the £1.1m premium which he has just paid and you can see that its a bet the SP will be higher than 0.86p year end. If the stock price isn't over 0.69p he loses the premium of £1.1m.
AZ has just paid £1.1m to get 630m shares *IF* the SP is at or above 0.6945 on 31/12. *IF* the price is not at or above 0.6945, AZ looses £1.1m. *IF* the price is at or above 0.6945, he gets the 630m shares and they will obviously worth what ever the SP is at the time.
Supply@Me has been notified by shareholder, Orchestra Group, that it has acquired an option giving it the right to receive 630,000,000 ordinary shares of the Company if the share price is at or above 0.6945 pence per share on 31 December 2020. The option cost is £1.1million.
If that is not confidence, I don't know what is...
apunter2 - completely agree most are missing it. IMO this is because a large proportion of people, who aren't that clued up on the financial system for what ever reason, most likely because they haven't worked in the financial sector before and therefore haven't been educated on it, take a punt on stocks and think they can make a quick few quid. The amount of people who have given over their hard earned money, and then asked what Blockchain is... is frightening. I'm willing to bet most people bought in without even knowing what invoice financing is, let alone AZs "new wheel". We now live in a world where you can pretty much learn anything on the internet. I really encourage people to educate themselves via YouTube and Google about things they don't understand. I'm not calling people thick, I'm saying they simply haven't been taught about the financial system for what ever reason!
If you are reading this and are considering buying in but still don't quite get it, or have bought in, are now under water and thinking of selling... Please please please educate yourself about how these financial products work and what SYME does. You will then, like a few of us on here, be rather entertained by the derampers pathetic and quite frankly embarrassing attempts to try and get in SYME at a lower price. Research is your confidence, spend the time, it will be worth it. ATB