Member Info for BigDave13

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Transaction expected to be completed in first quarter of 2023

I find it interesting that Vela (as shareholders) meets with the investee companies whilst at the same time ignoring its own SHs.

It is on Vela to issue TR1 notification to TSP - did they, i doubt it? Oberon submitted TR1 08 June post fundraise and website reflects their latest holding.

The Vela registered office is the same address as Bailey Wilson Accountants (Vela Director/CFO). There appears to be at least 30 companies registered at same address. It is no more than a postal collection service for formal notices. There is no need of a business office for the Directors to work from. They have numerous other business interests so can communicate with each other on an as needs basis. Be curious to know how many hours on average each Director spends on Vela activities. IMO.

You need to ask the question when it hits 0.1p (Friday?). You think it is Conduit that bought, could be but they never did TR1 on the first 1.1bn. Maybe red dot tomorrow, wouldn't that be something.

Oscillate now getting into the action
https://www.aquis.eu/aquis-stock-exchange/for-investors/announcements?view_news_id=3816836

you mean "had", are you up to date with latest on AAA, RDGC?

Nice

09-Nov-22 14:37:12 0.0293 113,583,900 Unknown* 0.025 0.028 33.28k O

Word is spreading ...
https://www.aquis.eu/aquis-stock-exchange/for-investors/announcements?view_news_id=3816398

Vela holds 23,928,080 shares in Igraine representing a 28.82% equity interest which in turn owns 2% of Excalibur. I think Excalibur has relationship with SGS (probably % deal similar to Vela maybe?) but don't think it has any ownership of Conduit (tbc). SGS owns 22.5% of Conduit (per their latest accounts)
This link from RNS is worth a read:
https://www.sec.gov/Archives/edgar/data/1896212/000149315222030986/ex99-2.htm

The update was poor as to be expected, again blaming external factors rather than taking responsibility for their own investment decisions. Lack of communication and transparency is alarming, it is not unreasonable for SHs to expect a minimum level of engagement. Taking 6 weeks to release this update to the market is just plain wrong.

I can understand top slicing CODE and Ensilica as they are in the money but why CSFS, makes no sense. According to the website which is supposed to be up to date, the CODE shareholding has not changed over this quarter which is at odds with this news so tracking the investments is now next to impossible.

You would think standard operational costs would make up say 20% - 30% of the £250k. I have no idea where the balance has gone but like everyone else, would be very interested to know. With Laiker leaving and now this issue, the company seems to be shrouded in secrecy.

As welcome as today’s news is, I think it clouds the reality of the Directors performance and what this company is and represents. Anyway, let’s enjoy for now, looks like about to bag.

According to the recently updated website, Vela owns 8% economic interest in the Covid-19/diabetes drug AZD1656. So no change there it seems.

It does not own any interest in Conduit Pharma itself.

With yesterdays RNS and todays lack of RNS re Conduit, one can only conclude that Vela is not fit for purpose.

Conduit website has been updated recently and includes the following: Conduit is actively engaged in commercial discussions with global pharma companies, with the objective of outright sale, partnership or license deals for St. George Street. Conduit retains 17% economic interest in the value generated through AZD1656 in COVID-19.

May explain why someone was prepared to take 1bn shares at such a premium.

https://www.conduitpharma.com/corporate-profile/asset-pipeline/
https://www.lse.co.uk/rns/CIZ/conduit-pharmaceuticals-proposed-listing-8h5h1ve1919vvgw.html
https://www.accesswire.com/724601/Conduit-Pharmaceuticals-to-Become-a-Publicly-Traded-Company-via-Merger-with-Murphy-Canyon-Acquisition-Corp

I see it that the £2m has already been raised and received by MODE and the Conversion of Loan Notes converts the loan into shares. There is also an 8% coupon to be paid on outstanding loans
Cash £2.3m + £1.9m (assume £0.1m fee) = £4.2m
Monthly Revenue of 0.1m (based on £0.5m H1 uplifted to £0.6m)
Monthly costs Admin £0.5m (based on £3m H2 est) + Coupon £0.012m (based on £1.75m outstanding) = £0.512m
Monthly net cash outflow = £0.412m

Lots of assumptions but basically cash will cover 10 mths costs (end of Apr). By end of Q1 you would expect fundraise required for additional working capital plus repayment of unconverted CLNs in Jul.

Imo.

It is such an illiquid stock that a small trade can have a big impact % wise. The previous trades were in the 0.4s so just heading back to its recent depressed level.

02/11/22 | 15:50 GB00BM9CKV18 1260 0.7
26/10/22 | 12:26 GB00BM9CKV18 774999 0.43
30/09/22 | 09:56 GB00BM9CKV18 1000000 0.4
29/09/22 | 16:24 GB00BM9CKV18 900 0.9

Another issue is why did Igraine pay twice market price for stake in Oscillate recently? SKL now joined the 50% down club. Nothing makes sense with this company.

I think the BoD have literally given up. If they can't be bothered to spend an hour preparing the update, then what hope is there? Time to exit all investments and become a cash shell.

Good holding & well done if you were in Cine before today.

Jimmy, when is your TR1 coming?