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Doesn’t make any sense they exercised it so quickly

What THEY are doing I meant lol

It is legal theft what we are doing!!

The SP Is now equivalent to 0.000175p pre consolidation.

So you can see the only reason for the consolidation what to continue to issue more shares.

Will be interesting to see if it dips under $5

So are we looking at about 8 million for total value of all investments including the PUT option roughly

metom, tell me you are taking the **** with your question??

so you claim to have £10k ready to buy in and ask complete strangers whether it’s a good idea and if the sp is likely to drop further.

you are either very naive or just talking bolox or both.

who in their right mind would do that haha. do you think people are mystic meg in here or something!!

IF !

If that’s the case VELA would be better off waiting while the SP remains low for longer

All depends on what date they exercise the PUT to work out the VWAP. They might wait a while. Hard to say. I guess that is where the risk comes in

THG I’m sure the VWAP started yesterday

Let’s hope VELA invest the money wisely and don’t end up buying crap. I guess that is why people sell on any decent rise because the BOD can’t be trusted.

My understanding is the value of the PUT option is a fixed amount which will then be converted into shares based on the VWAP. So I guess the only way the investment will fall or rise will be based on what price VELA get when selling the shares.

Out of interest, does anyone keep a tally of the average SP for each of VELAs investment portfolio without having to trawl through the RNSs?

I guess that would make sense but anything is possible with VELA

More shares though so it could be a good thing it stays low on the assumption it recovers. Like you say VELA could be running out of cash and may have to raise pending receipt of the PUT option funds

Latorre, I would get someone to proof read your posts before posting my friend.

System, back to the 20s by the end of the week? Based on what exactly? What makes you believe the SP will virtually double in 4 days??

Day 1 of the VWAP is 10.38

Cheers THG

I posted this on Saturday but not sure if anyone responded. What are people’s thoughts on it?

I’m probably misinterpreting the RNS but isn’t the total value that VELA get a fixed price and it’s only the number of shares that is determined by the VWAP. So in theory if VELA were to exercise the PUT option but keep the shares for a while they could benefit from a low VWAP if the shares went up but obviously lose out if the SP continued to go down