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Yeah you are right. AIM in a roulette table now. Rather than have a fundamentally sound investment an SP goes higher on rumour and potential. As we have seen here and I mentioned yesterday, our SP went higher when the news came that the merger was confirmed but when news that we exercised the option, received more shares and our investment was actually worth more, the SP went down. There is no logic. But fwiw i will be sticking around here for the time being
As per RNS:
Following admission of the Consideration Shares to NASDAQ, which is expected to be during December 2023, Vela will hold approximately 1.38% of the issued share capital of Conduit.
I don't think it's VELA selling unless their consideration shares were admitted today and sold immediately.
Certainly not the day anyone expected. But it wouldn't be VELA if it didn't go down after a good news RNS.
If anyone is in need of cheering up head over to the advfn as I think Joe Bloggs has found a new home there.....
The SP went higher when the CDT merger went through! now the merger has happened and we have exercised the option and got more shares than we thought and the investment is now worth some £700k more than when we signed the option and we can't get over 0.275.
This could be taken over just for the CDT shares alone at this price. The extra £2.5m in other investments is a bonus...
I don't think that is fair. Some of us have been here for years. Watched, as the SP went into freefall but stayed as we were told commercialisation would be almost immediate.
Thankfully this investment has paid off but you only has to look at the other investments to see the performance:
MODE - down £300k
CSFS - down £260k
MTI - down £120k
CODE - down £130k
SKLS - down £54k
Igraine - down £350k
TSP - down £234k
I don't suppose some of you have heard of any of these investments though. CDT is the saviour luckily. Obviously their is concern (and rightly so) what the BoD will do with the money.
There is a reason the SP isn't reacting to such good news and its not because a few of us are taking the BoD to task over their performance.
The market values this company circa £2.5m below the value of its investments alone keep that in mind when you blame the BB.
Value you win through eventually, just too many who have been burnt on this share before getting out.
I make our investment portfolio worth roughly £7.2m, our current Mcap is £4.5m, still a loooong way off fair value.
someone wanting to take this over could get a bargain and sell everything and make a tidy profit!
Yeah, this is very VELA. CSFS up 20 odd % today we have over £4m in CDT and we are level for the day with basically more sells than buys.
Tell me if the BoD was any good we would be roughly 40% below the fair value of our investments? Its the lack of trust in the Board. Lets see how the AGM goes...
This will be one of the hurdles, the fact the BOD let the SP get so low mean there will be a lot of traders selling into any rise. We already saw some selling on Friday for a quick 10-15%. If we had a higher base this would go a lot higher. But let's see. I'm hopeful for at least fair value and an SP 0.04 but if CDT rises further before we sell our shares this has legs to go further.
Will be interesting to see where the BoD put the money.
Because your chart said so? Look, I don't believe charts but have respect for people who do. I hope you buy back in on Monday as no doubt that would mean you think the price will go up accordingly.
I know your charts don't take this into account but we have circa £7m in investments which is not reflected in the MCap . The SP should be in the 4s if it were to reflect fair value.
Good luck to you whether you buy in here or not.
CDT has gone up and we have exercised the option. Hardly rocket science. You also told us we were obsessed with getting an RNS. But look what happened after we got an RNS! I wonder why the SP went up, was it because we got an RNS basically saying we have £4m in in CDT or was it because the chart looked good?
3pm on a Friday not the most ideal time but will take it! gives the weekend for people to see the value in VELA now.
At the time of writing the rough value of VELA investments (current and non current) is £6.9m. our current Mcap at current SP (0.24) is £3.9m the CDT investment alone is worth more than that!