Member Info for BigDave13

It is an interesting read but not new, been around for at least 6 months. Set up for the trial but not specifically the results :-)

Yep, exciting times & hoping for done deal around Oct/Nov

Interesting thoughts on state of play, chaps. Any views on why Robert Thesiger, Chairman incorporated Blue Air Group Ltd (Sole Shareholder/Director) on 5 July, 1 day before the RNS announcement? Maybe he is holding it til deal done and can be transferred to RDGC (to secure name) or perhaps to receive his future fees?

0.13p would be great platform, then we just need an easy 5 bag on Day 1 to hit 0.65p.

Agree, another week then we should be ready to enter the optimal target zone for Results. Let's not forget ~£1.25m cash available to deploy, Board Appointment to be confirmed by month end plus 2BN warrants worth £1.2m can be exercised by 01 Sept. We could see some exciting newsflow over next 2 weeks and finally see SP break out of this tight range. Boom!!!

If Trials are successful, what is in it for the BoD?

On 26 August 2020, James Normand, a newly appointed director, was granted 180,000,000 options to subscribe for ordinary shares of 0.01p each in the Company. The options have an exercise price of 0.024p and are exercisable for a period of ten years from the date of the grant. Half the options become exercisable 12 months after grant, subject to the Company's closing mid-market share price being at least 0.048p per Ordinary Share for 30 consecutive business days, and the remaining half become exercisable 24 months after grant, subject to the Company's closing mid-market share price being at least 0.072p per Ordinary Share for 30 consecutive business days.

In addition, also on 26 August 2020, Brent Fitzpatrick, Non-Executive Chairman of the Company, was granted 90,000,000 options to subscribe for rdinary shares in the Company. Brent Fitzpatrick now holds a total of 104,562,427 share options equivalent to 1.46 per cent. of the issued share capital of the Company.

Do the Math.

Was just re-visiting the commercial terms of the deal as per the RNS. No idea what the latter 2 parts may amount to but it seems expectations are of a huge financial deal that will cover these costs and also provide investor returns.

SGS will pay Vela 8 per cent. of proceeds received by SGS
in excess of £19.2 million and
after deduction of sums payable to the major pharmaceutical company and certain funders, and
provision for taxation

Nice contract win, business expanding, SP on the move

Overall the business is trading well, and we look forward to announcing our half year results next week

https://www.lse.co.uk/rns/MWE/new-naval-antenna-contract-win-7h83ko5pdhmo5no.html

Suthy, it is quite a concerning isn't it and as you say, will be here for years to come. The BBC article posted earlier is a real wake up call. It states "Doctors around the world are debating whether Covid-19 itself is causing diabetes in patients with no previous history." Another day closer to news.

THGambler has it right, shares issued at a massive premium - read the RNS (or just figure it out from your link!).

Not this again lol! Maybe a better way to look at is ROI based on initial investment. For example, let's say 5x on relist and 10x end of next summer is quite reasonable expectation. Whatever that means in terms of shares/SP is secondary.

Getting close, these timelines were all reported on 09/07. Strange how Excalibur messaged a different date. Next week could be interesting but I reckon on the following week - all systems are go

Igraine RNS - The formal report with the results of the trial is expected in late August.
Vela RNS - The final formal report with the results of the trial is expected in late August 2021.
Excalibur Healthcare Services News Item - … the final report is expected early September.

Mon 30 Aug is Bank Holiday

Oscillate plc (MUSH) owns 24.64% of Igraine plc (King) which in turn owns 2% of Excalibur (EML). As I posted yesterday, a successful trial will result in KING paying a higher consideration for their EML shares. On this basis, these entities/PIs will benefit indirectly but imo, not receive a direct distribution of Arcadia trial proceeds. However, it has been reported that the initial investor pool included several HNWIs so if this included Akers/Edwards, then yes they should receive a % of the proceeds. If EML own the patents, do they receive the gross proceeds and pass them on to the other investors including Mubadala, UKRI, HNWIs, SGS and of course Vela (via SGS)?

Good spot there Jimmy, something brewing? I see that Oscillate has new ticker and chat BB under MUSH. Edwards also owns 5.94% of MUSH in addition to his 10.27% KING holding.

Times article
Blue Air is whizzing back to full schedule

An eastern European airline that is planning a £500 million stock market listing in London has said that it will fly a full schedule for the rest of the summer.

https://www.thetimes.co.uk/article/blue-air-is-whizzing-back-to-full-schedule-hrdknmrn8

Discovore plc just changed its name last week to Oscillate plc

Igraine has new chat BB under KING

Good questions there. It is reported that SGS first came up with the idea of investigating AZD1656. Once Sir Chris become involved, he no doubt understood the potential and acquired the patents. I recall from the video interview the other week that he said he is always thinking in advance about how to market and commercialise the relevant drugs being trialed. Patent ownership allows him to manage this process. On the permissions front, I wonder if AZ physically had the substance on site and were required to be granted authorisation from MHRA before releasing it for the study.

Let me pose this question. The Igraine deal is to co-invest in all healthcare and life-science investment opportunities plus acquire 2% of EML. The consideration is £600k plus a further £500k of Igraine shares if the trial of the AZD1656 drug is successful. By my reckoning, that means EML valuation increases by £25m on trial success. There are other investors involved including Mubadala, UKRI, SGS and of course Vela. So, what % of the trial does EML own and can we then estimate potential commercialisation value?

from Half Year Report

Disposal of certain investments to Bixx Limited

The Directors took the decision to dispose of its investments in Portr, Argo Blockchain, Vibe Group Holdings, Stream TV, Advanced Laser Imaging and Nektan to a newly formed company - Bixx Limited - for consideration totalling £855,000 payable after seven years. Bixx Limited was incorporated on 24 July 2020 and its entire issued share capital was held by existing shareholders of Vela, such that the Vela shareholders as at the respective record date of the transaction had the same proportionate beneficial interest in Bixx Limited as they had in the Company. These investments had a carrying value of £555,000 in the audited financial statements at 31 March 2020. Under IFRS9 investments have been valued at fair value and the movement charged to profit and loss.

Further details on the disposal and the terms of the disposal are contained in the announcement released by the Company on 31 July 2020.

Brent Fitzpatrick is a Director of Low Wave Limited. Emails to Vela may be re-directed to his inbox and he has a general OOO notification from his company.

No sign of Dec 20 accounts yet, well overdue, what is the issue? Not a good start for the new regime.

The Company will publish these results as soon as possible, and by no later than the end of July 2021.
https://www.aquis.eu/aquis-stock-exchange/for-investors/announcements?view_news_id=3150570