Member Info for BigDave13

Yes, fair point about raising at a higher price. Based on cash/spend rate, may need to raise again in Q1 so what is the catalyst to move on from this depressed sp?

@JB, this was covered recently, refer the fundraise RNS "To the extent not converted, the Loan Notes will be repaid after 12 months." Will revenues/cash on hand cover this otherwise expect another fundraise to replace these CLNs.

Check out the OSI trading update today - just hit 100% so hope for CSFS yet if they can issue a half decent one

I wouldn't think so but you never know with this mob, anything is possible.

Yes, another investment or whatever the strategic update may involve could result in a placing but I would hope they sit tight and wait for at least one of existing investments to come good and enables a return to be realised.

Vela BoD will Place if/when they want, it won't be SHs decision.

Laiker is a stockbroker, no problem for him to shift the shares quick smart to his clients/investors. I am sure this didn't just go to the average PI, maybe even gone offshore, someone was prepared to pay double for whatever reason, who knows. It is the new owner's responsibility to TR1 purchase and we know many don't comply. I am just as interested in what triggered his departure from the Board.

THG, I think we are pretty much aligned now. I am at £5.912m vs your £5.916m (based on the numbers you just listed) so close enough.

Thks @Messi - "the Company's financial position remains weak and the Company has been urgently seeking alternative sources of finance as it is important that additional funding is secured in the near term in order to allow the Company to continue operating."

What was the company's financial position when Vela was scammed er I mean invested in TSP at 5p, now 3p just a few short months ago?

Hi THG, thks for reply, here is my summary of listed investments in '000s - where do we differ? I have tweaked my number to £5.932m now, there seems to be a slight variation in closing prices between this site and Aquis.
Mode 25k, Cornerstone £40k, KNB £32k, MTI £118k, Northcoders £1,179k, Rural Broadband Solutions £33k, Skillcast £145k, Igraine £239k, EnSilica £754k, Truspine £240k

As an FYI, Rural Broadband Solutions (RBBS) has now changed name to Global Connectivity (GCON).

The Significant Shareholders section of the website has been updated. Follow link and click on section Number of securities in issue & Significant Shareholders to expand for details
http://www.velatechplc.com/investor-relations/aim26/

Overall, 86% of shares are held in Nominee Accounts i.e. small PIs. This includes Cooke's 4.66% within Interactive Investor. SGS shares 1.1bn (6.77%) + Laiker/Bixx) shares 977m (6.02%) went to unknown recipients so may or may not be included in overall % total. I have contacted Novus regarding the SGS shares, let's see if any clarification is forthcoming.

To the extent not converted, the Loan Notes will be repaid after 12 months (Per the RNS). Revenues are low, operational costs are high, Mode probably have sufficient cash reserves to see them thru to Q1 next year. Then what, will need more working capital plus cash to repay these CLNs. How do you see this playing out? An offer may come but any prospective buyer will need to take into account funding requirements and price will be adjusted accordingly - imo.

The markets may have rallied but not so for the Investee Companies. Only CODE has seen any value increase over the quarter. The value also includes SGS investment of £2.35m which the market quite rightly values at Nil so probably MC is fairly valued at this level.

I have Q3 investment Portfolio valued at £5,917,968. THG, what's your number, are we aligned?

A journey of a thousand miles begins with a single step...

After a year long SP slide, let's hold 20% first, then kick on to 500%

This is getting a little exciting now :-)

In my recent email to Novus, I did ask whether the Significant Shareholders section could be updated. I was told it should be up to date now, but I see no changes. If nothing by tomorrow, I will chase up and include this query re the SGS shares as well.

The share disposal RNS states:
The Board of Vela is pleased to announce that the Company's joint broker, Peterhouse Capital Limited, has today placed the entirety of St. George Street Capital's ("SGSC") 1,100,000,000 shares with a range of new and existing investors.

The SGS 2020 Accounts states:
Subsequent to the balance sheet date the shares in Vela Technologies have been disposed to Conduit Pharmaceuticals Limited.

I don't see how both statements can be valid, so which is it?

This from Interims end of Sept. Referring to Q3 trading period, sounds positive.

"The strong trading momentum that was experienced in the first half of the year has been sustained through the second half, reflecting underlying growth as well as the initial contribution from Pangea FX. Accordingly, we continue to expect to achieve significant revenue growth for full year 2022 and I look forward to reporting on our progress."

Placing?

Revenue is negligible so consider cash balance vs monthly cash burn rate. How long will cash last & when it is gone, only option is more fundraising/dilution.