Member Info for BigDave13

Hopefully just a bit of admin housekeeping but I thought worth noting here. From memory, EHS owns about 80% of EML which I believe has the working relationship with SGS. Per the note from @Topprize, we're still in the game!

Sir Chris Evans termination of Director Appointment of Excalibur Healthcare Services Ltd (EHS) on 28 Feb. Still listed as Director of Excalibur Medicines Ltd.

EHS accounts for 31/03/21 due by 20/02/22 are now overdue.

Yes, it is like they have shut up shop and gone home. This is now the 3rd investee company update this week they could have updated the market/SHs with, but didn't.

https://www.aquis.eu/aquis-stock-exchange/for-investors/announcements?view_news_id=3443704

Another communication opportunity missed....

https://www.lse.co.uk/rns/SKL/full-year-trading-update-kzcolqqqsy70wm0.html

Wake me up at 0.1p

Why no RNS re KNB acquisition/placing when there was for CSFS placing just last month? Improved communication was short lived.

#answersonapostcard

Followed by a placing at 8p, nearly back to IPO price.

https://www.lse.co.uk/rns/KNB/oversubscribed-placing-to-raise-163225m-6lnka0a2h0fasvz.html

HH, it will be 8% of the deal value rather than the current entity value. Right now, that equates to a big fat Nil and as you say that is exactly was is factored into SP. It does give some confidence that a deal really is in the making but then again, why sign away 5% if a deal was to conclude in the short term when there appears no immediate benefit to Conduit? Maybe Conduit see this a long term strategic alliance given CIZ's other pharma plays. Note that Conduit took the CIZ shares and SGS the Vela shares. They are separate legal entities so would be interesting to know the relationship and how that plays into the funding/deal process.

Difficult to assess whether one company may have the better deal but if the terms are broadly the same then you could argue that CIZ is the winner. They have come in late in the day and snaffled 5% plus also earlier acquired a royalty agreement that will pay them up to £5m for the princely sum of £200k. Long suffering Vela SHs have been waiting around for the last 15 months and have nothing to show for it except losses.

This is part consideration paid by CIZ for their deal - refer RNS 14/02.

From the CIZ board, a very good listen.

https://bit.ly/3gMfLsd

#communication

Based on the 31 March Final Report, Brent was paid £62k, JN £45k (7 months) and CFO is now probably on a similar level. They all have various other business interests so I would be interested to know how many hours per week, on average, each Director dedicates to Vela activities to earn these sums. Whatever happened to the proposed NED appointment first mooted around July 2020, does no one want to join our little company?

I noticed recent updates to the website within the Board and Investment Policy sections. However rest of the website left untouched, is out of date (& not secure) and needs a complete refresh. Have you seen the large over sized social media icons on the homepage, strange when they refuse to use such media and engage!

The cash balance is now £1.43m as per 24 Jan RNS (post Ensilica investment). If there are no near-term monies coming in from SGS, then options appear to be limited. Maybe another £750k investment which leaves sufficient monies for ongoing operating costs. Don’t see much point selling current investments to hold cash or to re-invest in another company at this stage.

I don't think that Future Royalties has been mentioned before.

the final investment was the interest in future royalties from the Covid-19 remedy being developed by St George's Street Capital ('SGSC') (which is held in the balance sheet as a financial asset).

Agree that a deal is still on the cards but the market has attributed Nil value at the moment.

I would say SGS & EML will be involved in all AZD1656 trials however as LordSutch highlights, the original statement indicates that Vela has only acquired an interest in the Covid trial.

SGS acquired the licence for AZD1656 in Sept 19 and this new trial was specifically mentioned. Presumably once covid hit, they realised a potential alternative application and raised funds specifically for that trial which Vela participated in. Worth noting the Igraine has reported the following in a recent RNS - Excalibur Medicines Ltd ("EML") has secured exclusive rights to and owns the patents on a drug, AZD1656.

https://onenucleus.com/st-george-street-capital-agrees-deal-astrazeneca-drive-science-patients-need

I found the response most encouraging, especially the bit about discussions can take months. Well, if the recent RNS’s can be believed, these discussions have already been ongoing for either 7 months or worst case, 5 months since results so we should be entering in the 'multi bagger delivery' zone. Feb could be an exciting month :-)

9 Jul - At this time, SGS and Excalibur Medicines Ltd ("EML") have begun the process of progressing commercialisation plans
9 Sept (Results Day) - SGSC will immediately start to undertake commercial discussions with potential licensees
16 Sept - We understand from SGSC that, following the successful results of the ARCADIA trial released last week, it has begun commercial discussions with potential licensees

ps CODE is a MONSTER 304/320

The placing is done per CSFS RNS y'day so Vela would have disclosed today if they had participated.

A total of 3,196,242 new ordinary shares of one penny each in the capital of the Company (the "Placing Shares") were placed with institutional and other investors at a price of 26.5pence per Placing Share (the "Placing Price"), raising gross proceeds of £847,004.

https://www.lse.co.uk/rns/CSFS/result-of-placing-and-total-voting-rights-86eeug1qu9u172z.html

Strategy seems to be top slice if SP ticks up but sit on hands when SP falls. Bit of a mugs game on AIM if they think can easily exit in 3 years at a profit and ignore interim swings. I would like to see JN move to chairman and bring in a new FULL TIME ceo that can monitor investments & make decisions on a timely basis. Looks like Vela is in the money for KNB and CODE and out of the money for CSFS, Mode, MWE & SKL.

Retires as Director of Oscillate plc (MUSH).

https://www.aquis.eu/aquis-stock-exchange/for-investors/announcements?view_news_id=3409449

@Topprize, well done you & best post of the year. Brilliant response, ashame our BoD couldn't be bothered to have provided us with a similar holding response.