Member Info for BigDave13

I wouldn't invest any more in Vela, although I get that some may want to average down to hopefully get to their exit point a little quicker.

"Commercialisation talks are progressing"

@Demo, if you can get this POS to 0.12p, then I will be your mate for a day :-)

HL says +19.47%

@Demo, looks like your posh mate could be right. Has the pump started? HL now showing +16.8%

With so many investee companies, not viable for Vela to RNS everything. Only option is to check each company ourselves each day or the Novus website although they don’t update all RNS’s. Not sure what other options are available.

My reading of RBBS update is that it now become an investment company holding 15% of the new entity (funded to £75m) & which in turn will own the operating subsidiaries. 100m warrants (c. 30% of issued shares) have been extended so massive dilution pending. It is only £30k investment, there won’t be a return on RBBS for many a year. SELL.

Do you think Musk/Twitter will make a play for Mode - App X?

Last AGM, it was reported that only c.12% of the Company's issued share capital was voted.

Around £1.75m of CLNs to go I believe so if converted that with cash on hand should see Mode through this year although that comes with big dilution. Then what, another placing/clns cause revenue won't be covering that level of monthly costs anytime soon. SP into the 3s, will bounce around in this range (3p - 5p) for a while whilst clns are converted. No catalyst for this to go higher in short/medium term. Trading opp only, imo

Recent trading updates issued for Q1 on 20 Apr and Q2 on 11 Jul. Next one should be along in next week or so. Expecting another good set of revenue/gross profit results, although probably not yet at level to cover cash burn. Let's have a good SP uptick, question is whether it can hold.

This was last updated on 14/02 and now well out of date. All of the nominee accounts are just brokers holding on behalf of PIs.
http://www.velatechplc.com/investor-relations/aim26/

@Volvie, Laiker is 3.43% and Bixx 2.58% but as Laiker is significant SH of Bixx, they were combined in the TR1 notification @ 6.02%. Conduit may be higher but they did not issue TR1 when SGS transferred shares to them so they could have since sold without a TR1 as well.

Agree, it is absurd. Brent and JN paid £62k and EW £35k. Furthermore, there is no consequence for failure, they continue to collect monthly fees regardless of performance. The CSFS CEO stuffed up and he was swiftly removed, won't ever happen here.

Laiker/Bixx - 6.02%, Cooke - 4.66%, Conduit (still holding?) - 6.77% & Brent - 0.009229%. I am sure this block will be enough to see them re-elected. A vote 'Against' may just be to let the BoD know of SH frustration with their performance.

These are the accounts posted on the website. Goto pages 41- 43 for Notice of Annual General Meeting details. Resolutions 4 & 5 may be of interest :-)

http://www.velatechplc.com/wp-content/uploads/2022/09/Vela-financial-statements-31-03-2022-FINAL.pdf

...The Company's Annual Report and Notice of AGM will be available shortly on the Company's website at http://www.velatechplc.com/.

From the recent RNS:
Vela's Annual Report and Accounts for the year ended 31 March 2022 ("Annual Report") and the Notice of Annual General Meeting ("AGM") will be posted to shareholders today. The AGM will be held at 15 Victoria Mews, Mill Field Road, Cottingley Business Park, Bingley, West Yorkshire BD16 1PY at Noon on 25 October 2022.

Roy, great post, tick up

That was part of the original consideration under the agreement, split into 2 tranches. Conduit quickly disposed of the shares after a couple of weeks and notified by TR1. Don't think it has any relevance to progress of AZD1656 but let's watch out for red dot t'row :-)

I think it would be foolish and irresponsible to raise money for another investment along the lines of current policy given their poor track record. Sufficient cash to sit back and wait for a couple of years if necessary but am sure that is not the plan. On the strategic update, they mention Vela's assets could be utilised to effect one or more larger transactions but given current mcap, is that even possible? Some sort of placing or funding event could well be on the cards. About time the Directors dipped their toes in (and roped in a few of their mates) and bought some shares at this price to at least show they are aligned with SHs.

If you read the Chairman's statement, they have deflected responsibility and laid blame on various global events. There is no evidence to suggest that these issues impacted the woeful investment decisions and lack of oversight thereafter.