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UK sales of Chill Zero vapour products are expected to start in the summer. The Vaping Group has access to specialist and independent convenience stores in the UK. The UK vaping market is expected to grow to £4.5bn in 2027.
John Wakefield, Non-executive Chairman, said: "2022 was a year of considerable progress for Baron. Our overriding task was to progress our two material projects, Chuditch and Dunrobin, to their key evaluation points which was achieved with the publication of CPRs on both projects in early 2023. The considerable and potentially transformative value for shareholders in the Company's assets offshore Timor-Leste and in the UK is now clearly defined and our efforts are now focused on the drilling decisions to be made in 2023 for a Chuditch-1 appraisal well and a Dunrobin West exploration well.
"Both assets continue to attract attention via our active farmout campaigns and presentations at relevant industry events. In particular, there are a number of ongoing discussions with third parties regarding participation in the Chuditch appraisal well and future activities. We are grateful for the support of our investors through the two funding events which took place during the year and as a result, we have a well-funded balance sheet covering our current activities and commitments.
"Baron is highly encouraged by the developments being made and I look forward to reporting on our further progress in due course."
The Company will hold its Annual General Meeting at 11 a.m. BST on 29 June 2022 at 38-43 Lincoln's Inn Fields, London WC2A 3PE.
Corner finally turned - 3 RNSs incoming17 May 2023 17:59
Statement
AZ - We have never lost sight of the need to create value and we will do everything we can to repay the trust placed in us in 2023 and beyond.
AG - The business is now aggressively pursuing clear opportunities for growth, with the support and backing of blue-chip global businesses.
In the coming months, I believe we can begin to shed our start-up tag.
AZ - Supply@ME offers a significantly more cost-effective option for businesses than traditional financing, without businesses incurring debt. For corporates, it is not overstating to say that it had appeared too good to be true.
Our pipeline of corporates is more robust than ever and with clear proof of concept in our initial target markets, we are now primed to realise our business' potential.
The completion of the inaugural inventory monetisation transaction was a watershed moment, providing irrefutable proof of concept and removing the barrier which had prevented many corporates from engaging. This prompted a significant increase in interest, with many corporates renewing engagement, particularly in the UK and Italy. The business is now on a clear growth trajectory. 
Client companies originated in Italy of GBP equivalent £162.5 mil as at 21 April 2023 (43% of the current pipeline)
Client companies originated through the UK of GBP equivalent £212.1 mil as at 21 April 2023 (57% of the current pipeline)
WL- Global and local banks have expressed an interest in using the Platform to directly serve their clients.
TOKEN - Supply@ME is compiling, from its global pipeline, a portfolio of potential client companies with up to approximately US$50m of inventory to be monetised across such portfolio.
The value of Vela's total assets increased during the quarter by £532,000 (8.3%) to £6,933,000."
- The value of AZD1656 just increased to at least £4m from £2.35m but the option cost £0.4m, so a net increase of £1.25m
- New total portfolio value assuming no other changes = £8.183m
- Company has no debt.
- Shares in issue = 16,252m
- £8,183,000 / 16,252,000,000 = 0.05p per share
...SP needs to double from here to get near true value.