Member Info for AsiaMarket

So we now know that "Cizzle exercised its Option on 26 September 2023 and once this has been settled, the Company is expected to hold 395,460 shares in the NASDAQ listed business"

I expect that VELA can achieve a lot more shares for their US$4.8M, with the current pre market price of CDT around US$4.50 could we get a volume-weighted average price closer to the lowest possible of US$ 5 giving us 960,000 shares in CDT. Hopefully we can then wait for the share price to recover and sell at say US$10 + giving us a return of around US$10 million!

GLA

Cornerstone on the move again now showing 18.5 up another 10% on google finance.

BD talking a lot of sense this morning 👍

Let's hope for a 500% rise so you can get your money back 🙏

GLA

Looks like we are back to buys been shown as sells again : )

Completly agree with this comment BD, I am hoping our BOD of VELA can play this right and if they do then the returns could be massive. Pharma stocks on Nasdaq can be very volitile as we have seen which makes them a raders dream. I think for the CIZ board they just want their money out to fund developments of their products but on the other hand I think our BOD are seeing this as a great trading opportunity if they can time entry and exit points well!

GLA

Just took another 12.5M myself, just too cheao to resist!

No concern to me so just bought another 20,700,000 shares

GLA

I would say a varly Bullish RNS so just took another 10M Shares and averaged up in my ISA which shows I'm uber confident here!

GLA

Just for clarity;

Vela Option Agreement

In April 2023, the Conduit entered into an agreement with Vela which granted Vela the right, but not the obligation, to sell its 8% royalty interest in the Covid Asset back to Conduit. 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 option is $4.8 million (£4.0 million) worth of MURF 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 exercise. The option contains a provision stating 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 expiration date of the term.

What date are we expecting Interims by approx? I was enjoying the rise but just now concerned we seem to be drifting lower whilst waiting for them to be released. I do expect the resuts to be positive but just wish they could get on and release them the sooner the better!

Even ENET is on the up today! Joe will be happy : )

Cornerstone has been recovering well for a while up around 130% year to date!

Information on Igraine

Igraine's business strategy is to source and develop break-through innovative technologies and commercially attractive discoveries in the health, med-tech and life science sectors worldwide.

Igraine's latest unaudited balance sheet at 30 June 2021 shows net liabilities of £58,000 and an unaudited loss before tax for the period ended 30 June 2021 of £133,000. At a general meeting held on 28 June 2021, Igraine shareholders agreed to the issue of subscription shares for gross proceeds of £2.0 million and a 2% investment in Excalibur Medicines Ltd ("EML"), a subsidiary of Excalibur Healthcare Services Ltd ("Excalibur").

EML has secured exclusive rights to and owns the patents on a drug, AZD1656, which is being developed as a therapeutic treatment for diabetics suffering from COVID-19 and other respiratory diseases. Simultaneously with its investment in EML, Igraine additionally acquired a right to co-invest in all healthcare and life-science investment opportunities sourced or invested in by Excalibur. Excalibur was founded and is wholly owned by Professor Sir Christopher Evans OBE, a renowned bio-tech entrepreneur.

Based on publicly available information, Vela has calculated that the net asset value per share of Igraine today exceeds the price that it has paid for the shares that it has acquired; and the Board of Vela is therefore of the view that Igraine's current quoted market price is not a true reflection of the underlying value of the business.

Brent Fitzpatrick, Non-Executive Chairman of Vela, holds 372,499 ordinary shares in Igraine, representing 0.449% of the current issued share capital of Igraine.

Details of the Acquisition

Vela has today acquired 23,928,080 ordinary shares in Igraine at a price of 1.8p per share from a number of existing investors in Igraine for £430,705, paid in cash from the Company's existing cash resources.

Following the Investment, Vela now has a portfolio of 12 investments.

For me our investment in Igraine is the cream on top of the of the minimum US$4.8M which we will shortly be receiving, It seems that the VELA BOD may have been made aware of the events which are currently playing out which made for such a "compelling investment" in Igraine!

No doubt Professor Sir Christopher Evans OBE will have had discussions with our very own Brent Fitzpatrick (Non-Executive Chairman of Vela, holds 372,499 ordinary shares in Igraine) and a plan put together!

It may alsoo explain how Antony Laiker managed to sell out at 0.04 way above the market price at the time, perhaps with Chris Cooke buying the shares and been given prior knowledge of the upcoming PUT option agreement.

RNS from back in Mar 2022 for those catching up!

Expect to see 0.05 minimum here soon!

GLA

Acquisition of a 28.8% interest in Igraine plc

30 Mar 2022 13:15

RNS Number : 6299G

Vela Technologies PLC

30 March 2022

30 March 2022

Vela Technologies plc

("Vela" or "the Company")

Acquisition of a 28.8% interest in Igraine plc

The Board of Vela (AIM: VELA), an AIM-quoted investing company focused on early-stage and pre-IPO disruptive technology investments, is pleased to announce the acquisition of 23,928,080 ordinary shares, representing 28.82% of the issued share capital, in Igraine plc ("Igraine"), the Aquis-listed med-tech investment company (https://www.aquis.eu/aquis-stock-exchange/member?securityidaqse=KING) ("the Acquisition" or "Investment").

Highlights

· Vela becomes the largest single shareholder in Igraine

· 28.82% stake acquired on 30 March 2022 for cash consideration of £430,705 at 1.8p per Igraine share

· The Investment is part of Vela's growing commitment to be more active in identifying opportunities for 'fast-track' returns for Vela shareholders from the Company's investment portfolio

Rationale for the Investment

Vela's investing policy includes investing in companies and special situations which have discernible potential to deliver returns for shareholders. Against a background of difficult capital markets, the Vela Board recognises the need to be more active in developing and delivering the means to achieve such returns.

With a healthy cash balance and as a co-investor alongside Vela in the AZD1656 Arcadia drug development programme, the Board of Vela believes that Igraine represents a compelling investment opportunity for the Company.

I am assuming the VELA board will exercise the option soonest possible and then this will be confirmed by RNS, Would the earliest this could happen be 10 days after the consummation of the Merger in order that a volume-weighted average price per share can be calculated ?

Vela Option Agreement

In April 2023, the Conduit entered into an agreement with Vela which granted Vela the right, but not the obligation, to sell its 8% royalty interest in the Covid Asset back to Conduit. 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 option is $4.8 million (£4.0 million) worth of MURF 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 exercise. The option contains a provision stating 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 expiration date of the term.

I do love a Monday morning RNS with good news, always get's the week off to a good start, if not an update on the China Visit then perhaps an update on the MURF Put option, either would do and both should be a good catalyst to the SP

Two RNS's on the same day might just be too much excitement for me to handle, but on the other hand lets hope I'm not completly dissapointed!

GLA

I cant get used to the ticker CDT I used to do that at school (many moons ago) Craft,Design and Technology, although I suppose if CDT goes up to $30 and we sell some of our consideration shares for a few million then I can put up with it!

In the directors talk Video Dr Allan Syms indicated that shareholders would be advised of why he is in China next week. I am assuming this will be done via RNS and as he mentions in the video, that he doesn't like to release RNS's to the market unless they have substantive news then, I can only assume, that some important news is about be to released. Let's see what happens but wait for it "wouldn't like to be out of this over the weekend" ha ha couldn't resist!

GLA

Yes Volvie hopefully we can close around 0.03 today and then when the update from the BOD drops then we should see at least a jump above 0.04 and I still havn't worked out how much we could potentially get from the sale of the consideration shares in MURF I think the £4M is an absolute minimum!

GLA