Member Info for BigDave13

Here is the RDGC announcement
https://investegate.co.uk/ridgecrest-plc/rns/company-update---jp-jenkins-share-trading-facility/202203310700106626G/

Yep, and the cynic in me thinks the RNS was a last ditch attempt to pump the SP before warrants expire in 2 weeks. Who wouldn't want £1m free money! Whatever the outcome, be rest assured the Directors will be A-OK and the PIs will have their pants pulled down (again).

Clearly Laiker and Cooke have come on board with a purpose and I don't think overseeing existing current portfolio is part of it.

From Mar 21 Final Results - In October 2020, Vela invested £30,300 for 1,200,000 shares, in a total fund raise of £2,500,900, at a subscription price of 2.5 pence per share.

Vela did not release an RNS at the time to announce this investment and only acknowledged details 12 months later in the Accounts. Even now, nearly 2 years later, RBBS is not listed in the investment section of the website.

It is a new account with 0 followers. Scroll down to first post for "Deal info"
https://twitter.com/IntheKnow2023

Maybe P&D to get SP moving b4 warrants expire! I'm ok with that :-)

Igraine haven’t bothered to report this news yet. SP is now 0.9 / 1.1 which represents 50% loss on the bid price. Quote from RNS “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.” I agree, it is worth much less. :-)

I thought the remaining warrants were due to expire next week but not so. The relevant RNS states the warrants are exercisable for a period of 18 months from Admission Date of the associated Placing Shares and not the RNS date, so that should mean 16 Sept is the key date.

From Report
Interpretation - Although the trial did not achieve its primary endpoint, AZD1656 was associated with a decrease in deaths and a reduction in the duration of hospitalisation, as compared to Placebo. Immunophenotyping and immunochemistry indicated an immunomodulatory effect of AZD1656.

But it was successful, right? Maybe this is as good as it gets. Decision time - stick or sell!!!

Full article
https://www.thelancet.com/action/showPdf?pii=S2589-5370%2822%2900334-0

Why no vela RNS - is it tea break & biscuit time?

Thks HM
https://www.sgscapital.org/#news

Good on ya Aks83, will be interesting to see if he responds. There are several listed entities involved and all will need to be updated at same time with any new developments. If you do get a dialogue going, I would encourage him to provide a full and detailed update to Vela et al that can be released to the market. Some may recall that @Topprize posted a response from Excalibur a few months back. Sounded very promising at the time but in the end has no relevance if nothing then happens.

Got to be worth £450m now, adjusted for inflation :-)

Joe, there has been no director buys. Laiker's buys were pre appointment and according to legacy TR1s, I suspect he already held a chunk in any case.

Jimmy, what's this about a meeting, probably to tell them it is a duster!

Good summaries of the situation, I concur.

In the Unaudited Accounts, the Post Year End Review states “Results to date have been positive as the Excalibur team progress commercialisation discussions with the preference being that of a trade sale.” This comment appears to have been removed from the Audited accounts just released.

From The Igraine Investments RNS:-
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.
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.
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.

Can’t make this stuff up, bought at 1.8p, now 1p/1.5p. The BoD need to come clean and provide a honest, transparent and comprehensive update of both the Arcadia and Igraine investments, asap.

Vela is now dead in the water. Which leaves the question of why did Cooke/Laiker jump on board now?

How many shares do you think JN, Brent & EW should buy to show their support for Vela?

Yes, currently listed in Balance Sheet as an investment, next accounts will show the transfer out, presumably at book value. No doubt cooke is connected somehow, can't imagine an investor just jumped on board, must be some reason. Will look into you other query t'row.

I wonder if there was an issue with SGS holding shares due to its charitable status and maybe Conduit was the better option. We do not know whether Conduit still own the shares or sold some/all as no TR1s have been issued on transfer or subsequently. When CIZ took a % of their deal, the shares went straight to Conduit and they then sold quickly and issued a TR1.

SGS owns 22.5% of Conduit

Joyless Tuesday morphs into Joyful Wednesday...
Mode continues to show strength
KNB on a flyer although still below ipo price
ENSI strong trading update
https://www.lse.co.uk/rns/ENSI/full-year-trading-update-notice-of-results-i9ucgup2u3cuakq.html

Vela still lifeless :-(

Maybe the info is out there with the main investors, just not yet shared. Vela seem happy to go with the ongoing discussions line. There are no consequences, BoD get paid as much for failure as they do for success. RNS tomorrow anyone?

I don't get this long term investment thing here, the business model is broke. Best to identify a few investee companies that interest you and invest directly, imo, gla.

Why add, what is the investment case here? The SP is low for a reason. With no SGS, then there is no revenue, limited funds and a basket full of non performing assets.
Jimmy, good question but Vela will not provided any substantive updates, so we are in the dark. Only a few people in the know & it is not us!

I make it 833,333,340 warrants (expire 23 Aug) at 0.125 valued at £1,041,667. From the Q2 update 22 Jul "The board received confirmation from SGSC, in relation to the clinical drug trials for the AZD1656 Covid-19 drug, that active engagement with commercial partners continues." This has been the holding line for the last 12 months which they continue to regurgitate but fail to provide any real substance/timelines to convince the market this is real.

Makes you wonder why Laiker/Cooke came on board. If not for SGS, it certainly can't be for the other 12 dud investments so what is the plan? 3 weeks to warrants expire, last hope to raise some funds at a decent price (& let lths exit).