Vela Technologies Share Discussion Threads

[tomboyb] 15/8/2023 07:05

Vela Technologies PLC Update re. Economic Interest in AZD1656
15/08/2023 7:00am
UK Regulatory (RNS & others)

Vela Technologies (LSE:VELA)
Intraday Stock Chart

Tuesday 15 August 2023

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TIDMVELA

RNS Number : 2903J

Vela Technologies PLC

15 August 2023

15 August 2023

Vela Technologies plc

("Vela" or "the Company")

Update on Put Option for potential sale of Economic Interest in AZD1656

Further to the Company's announcement on 15 May 2023, the Board of Vela (AIM: VELA), an AIM-quoted investing company focused on early-stage and pre-IPO disruptive technology investments, notes that Murphy Canyon Acquisition Corp. (NASDAQ: MURF) ("Murphy") has now received a notice of effectiveness from the United States Securities and Exchange Commission ("SEC") which can be found here:

hxxps://www.sec.gov/Archives/edgar/data/1896212/999999999523002356/xslEFFECTX01/primary_doc.xml .

As such, Murphy has formally notified its current shareholders that a special meeting will be held on 7 September 2023. This meeting presents an opportunity for Murphy shareholders to provide their approval for the transaction.

A link to the notice of special meeting and final prospectus can be found here: hxxps://www.sec.gov/Archives/edgar/data/1896212/000149315223027856/form424b3.htm

On 20 April 2023, Vela announced that the Company entered into a put option agreement to give the Company the right, but not the obligation ("the Option"), to sell its economic interest in the commercialisation of the Covid-19 application of AZD1656 for a total consideration of GBP4.0 million. The Option was granted by Conduit Pharmaceuticals Limited ("Conduit") and its prospective parent company, Murphy, a Company listed on NASDAQ.

On 15 May 2023, Vela announced that Murphy had filed the Form S-4 Registration Statement and preliminary proxy statement with the SEC.

As previously announced on 20 April 2023 and 15 May 2023, the Board of Vela is mindful that there can be no guarantee that Vela will be able to exercise the Option, since exercise is dependent on the successful completion of the merger between Conduit and Murphy and the combined entity being listed on the NASDAQ stock exchange.

The Company will release further announcements as and when appropriate.

[everready1] 11/8/2023 17:04

is there a telegram group link please that hasnt expired ?

[tomboyb] 11/8/2023 13:40

Moving in the right direction

[dlewis1] 09/8/2023 08:52

Who is the merger with?

[dlewis1] 31/7/2023 09:40

I'm longing to break even on this.

[tomboyb] 31/7/2023 09:23

Blue -

0.022p -

[tomboyb] 25/7/2023 14:38

Sellers out and this will move up -

[tomboyb] 25/7/2023 11:14

Moving up -

25mill available only at 0.02p full quote -

[tomboyb] 25/7/2023 10:29

thanks -

There is no liquidity in the stock so easily bounce significantly higher. I think if ur investing of AQSE it has to be medium - long term stories -

FDA approval and they will be selling on the states -

[smcl] 25/7/2023 10:16

Vela hold 6m of these according to the RNS (22.06.22)- 5.07% of the issued share capital of TSP. £300,000 Vela investment equates to 5p per share at that time.
Unfortunately steady decline from 5p to around 1p recently. On the up now so who knows but bit to go to breakeven on its investment but should be easily possible on FDA approval etc. Where it ends up? who knows. No investment advice intended.

[tomboyb] 25/7/2023 09:30

Not sure -

But you never know with these stocks -

VLRM went from 1p to 70p on AQSE -

[city1911] 25/7/2023 09:28

What price did Vela buy in at?

[tomboyb] 25/7/2023 09:27

TSP up 94% now -

Someone had to pay a massive premium -

[tomboyb] 25/7/2023 09:21

Thats a shame -

If my broker dealt with TSP i would of taken a few myself today -

Could do 200%+ -

[tomboyb] 25/7/2023 09:14

Looks like it -

TSP up 61% -

[city1911] 25/7/2023 08:43

TSP up strongly this morning!

[tomboyb] 25/7/2023 07:36

25mill max but at 0.018p full quote -

You could buy a lot more before and new investor accumulated over 1 bill shares -

[tomboyb] 24/7/2023 08:34

If that seller has cleared then there could be a decent bounce here -