Member Info for BigDave13

Yep, the AZ thingy is the big one. Warrants @ .125p expire 23 Aug so 6 weeks to go, if news drops b4 then, straight to 0.15p imo. Otherwise they miss out on £1m, imagine how many (bad) investments the BoD could make with that sort of money. They need to start working their contacts and get some interest here, a few more TR1s would help. GLA :-)

No doubt. One driver for the PR/IR appointment was to enhance SH communication. The BoD need to get a grip, it is a very simple update to prepare - just do it.

Can't be a coincidence that 2 TR1s appear after a long period of radio silence. What is it that they see in all of the loss making investments?
Novus reports on the Vela and CSFS RNS's but not ENSI - hopeless.
So many companies have now released their Q2 trading updates but Vela still hasn't yet issued it's Q2 investment update. Surely that can be no more than an hours effort to draft up, unless of course the big news is about to drop!
C'mon Vela, only 6 weeks til the last of warrants expire and £1m would go a long way to addressing the fast depleting cash reserves.

I am curious to know why this was considered RNS worthy when updates from actual investee companies are not?

Where is Q2 investment update ?

THG, what are you thoughts on this re CSFS investment? Based on Vela RNS 06 Apr 21, they acquired 400,000 shares in Dec 20 + 245,902 shares in Apr 21 for a total of 645,902 shares. However, according to the CSFS website, Vela owns 1,045,902 shares. The difference is 400,000 which matches the warrants @ 50p. Surely Vela did not exercise those, I do not recall any notification of such.

https://investors.cornerstonefs.com/shareholder-centre/significant-shareholders/

Weshop is not Weshop!

Where did these shares come from? We know SGS sold their 1.1bn to Conduit who never submitted a TR1 though. Maybe this is the source of the majority of these. Why now, what does Laiker know?

Accepted :-)

what to make of that?

TSP RNS
Further to the announcement of 28 April 2022, the Company is in a position to file its 510k FDA submission, however it is awaiting the FDA's response to the Company's request for a Breakthrough Technology Designation

https://www.aquis.eu/aquis-stock-exchange/for-investors/announcements?view_news_id=3628880

Covid not in the news as much these days but plans in place to continue vaccines for years to come. AZD1656 very much in play, imo

Oxford Biomedica signs new three year agreement with AstraZeneca
https://www.lse.co.uk/rns/OXB/signs-new-agreement-with-astrazeneca-65ntofe2cbn82ij.html

There is a section on Holding Period in the Investment Policy section of the website, worth a read.

On another note, Igraine 31 Dec 21 Accounts have now been released. This Post Year End Review is quite interesting with mention of on going commercial discussions and also preferred trade sale whereas previous mention of licencing or other options. Is progress actually being made? If Igraine can release this info, surely Vela can update the market as well - Please BoD, provide an update.

The company continues to monitor the development of its maiden investment with Excalibur under the Co-Investment Agreement. Results to date have been positive as the Excalibur team progress commercialisation discussions with the preference being that of a trade sale.

https://www.aquis.eu/aquis-stock-exchange/for-investors/announcements?view_news_id=3628644

This from the Investment Policy section on the website.

Investment appraisal
In order to mitigate investment risk, the Directors will carry out a thorough appraisal of each potential investment. This appraisal may include site visits, analysis of financial, legal and operational aspects of each investment opportunity, meetings with management, risk analysis, review of corporate governance and anti-corruption procedures and, where the Directors see fit, the seeking of third party expert opinions and valuation reports. Vela will not have a separate investment manager.

Results to date would suggest that they have spectacularly failed in all aspects of this policy. Despite robust previous business acumen, the Directors clearly do not have the knowledge/experience to act as Investment Managers. Change at the top is needed urgently.

CIZ now have 2 agreements being 5% uncapped plus up to £5m capped. Their agreement seems to cover all AZD1656 treatments whereas not clear whether this also applies to Vela or may only be for Covid. Just looking at the original RNS, it also states that Vela's Economic Interest shall be renegotiated should SGS receive further funding from third parties in the future. Well, SGS received further funding from CIZ, so has Vela been pinged a few % points? On face value, hard to distinguish between the two without specific details.

There has to firstly be a reason for buyers wanting to buy in here. Let's see if the Q2 quarterly update provides that spark.

Agree with those thoughts THG. We could have and should have sold on results day except for the prospect of a deal. So did we have the wool pulled over our eyes? In our defence though, we only got stitched up by one company whereas Vela BoD appear to have been stitched up by sgs, rbbs, tsp, igraine, mwe, skl, csfs, mode etc.

Mode hit the 80s at one stage before losing 90% of value as it changed its business model and made some monumental screw ups with dodgy announcements. All the while the Vela BoD sat on their hands and watched this SP destruction without taking action. Could have at least top sliced some on the way down to protect its investment.

ENSI bid now below buy in price which means CODE is the sole investment above IPO/buy price. OK, KNB is on a free ride but the SP is now below IPO as well. Again, Vela BoD had ample opportunity to fully exit with decent profits but chose not to.

What is the business model here?

I read that statement as 12 months from the clinical study report, which was announced by RNS on 14 Dec, rather than notification of results. Either way, it is a long time to wait with no updates isn't it? Are commercial discussions on going or not? Q2 ends Thursday which means another quarterly investment update is due, the BoD should provide some details on this, their largest investment. The Q1 update took 1 month to issue, the BoD should ensure this time around they release the update pronto. RNS should already be drafted and ready to go, Mon at latest please!

Current cash balance is now around £600k, at this stage I don't think there is any money left in the pot for future investments. Where are future funds coming from bearing in mind operational costs will continue to deplete existing reserves? Warrants only have 2 months left, investments all down so is a placing on the way? Or is mega news on a deal that provides some upfront cash about to drop?

Absolutely agree THG. Even if not yet resolved, a holding RNS should have been issued by now.

Brent Fitzpatrick, Chairman of Vela, commented: "We anticipate that Novus Communications' experience and professional expertise, particularly in the small cap market, will enhance Vela's communications; and enable its shareholders and other stakeholders to gain a clearer understanding and appreciation of Vela's investing strategy and of the rationale behind its investment portfolio."

When does this new communication thingy kick in? All words, no action!