Interesting article on Portr ... refers to launch at Heathrow later this year having already launched at Gatwick and City Airport [link]
Tipped on Hot Stock Rockets ... follow up on previous comment .... This further supports our view that a sub 0.20p share price, capitalising Vela at only circa £0.9 million, represents a vast discount to its net asset value ( it must be close to 0.5p now) – with the company itself emphasising that: ......our stance remains buy - target 0.35p+ to sell.
Social Superstore news .... highlights of RNs ...... successfully raised a pre-Series A funding round of £1.75 million at a £10.0 million pre-money valuation ...... Vela has an interest in 71,429 Social Superstore Shares which have a paper value equivalent to approximately £222,000 at the price of the Fundraise. Following completion of the Fundraise Vela has an interest in approximately 1.89% of the fully diluted share capital of The Social Superstore. Vela originally invested £100,000 in the £1m seed fundraise undertaken by The Social Superstore in May 2014 which resulted in Vela holding 71,429 Social Superstore Shares. This fundraise was undertaken at a £3 million pre-money valuation............... With a further valuation event from an investee company, the board of Vela hopes that investors will be able to better understand the underlying value of the portfolio. Based either on such valuation events or the market value of portfolio investments, the board of Vela believes the underlying value of the portfolio is significantly higher than the value attributed to Vela at this current time."
Came across this regarding Portr .... Vela's shareholding in just this one investment could be worth much more than Vela itself. It's already been valued by investors at 60% of the Vela market cap ..... wakey wakey [link]
As I recall, the current management actually rescued a company that was bust. Whatever happened before is nothing to do with them.
More news out from Vela ..... Portr raised £3.3m valuing Portr at £15.3m .....AND Hargreave Hale, considered to be one of the smartest investors in small and mid caps is investing in Portr. Clearly they think Portr has the potential to be worth many times the value of their investment. Portr's value represents most of the market cap of Vela so investors could invest in Vela as a proxy for investing in Portr ..... interesting
Anyone notice the name "SRG" in the funding RNS today? The notes to the RNS says SRG is Sports Resource Group Limited. This is what come up if you Google that company .... So is Chris Akers behind the funding? Chris Akers is an investor in a number of public & private companies in the sports, media, entertainment, leisure, travel, technology and IT sectors. He is currently Chairman of Sports Resource Group Limited, a sports sponsorship, consultancy and representation business and also a non-executive director of Hip Hotels Media Limited and Webevents Limited. and this from Linkedin Chris AkersPremium Badge2nd Executive Chairman at Concha plc London, United Kingdom Internet Current Non-Executive Chairman at Works Ltd Executive Chairman at Concha PLC Executive Chairman at Sports Resource Group Ltd So, not entirely ckear and maybe more in the document when it is published .... think of Concha plc .....
From Charles Stanley this morning ..... Our View: Central Rand Gold announced on 20 May that it is to raise additional working capital through a placing of shares at 10p. We believe that with site visits undertaken by interested parties, the chances of a sale being concluded have improved. We raise our PT to 21p from 17p based upon the value of assets in production.
Good morning
Hopefully you will have seen this morning's Corporate Update by Vela.
Here is a link
I also would like to highlight the RNS Reach of 9 April where we notified the market that Vela Technologies would be exhibiting at the UK Investor Show this coming Saturday.
Subject to resolving some logistical issues, we are hopeful that we will be able to demonstrate the StreamTV 3D technology – no glasses required.
Brent and I look forward to welcoming shareholders and others alike that are interested in Vela
Antony Laiker
Executive Director
Vela Technologies Plc