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TSP Chairman Mr Miller is continuing to buy shares, another TR1 today. Maybe Vela should give him a call and do a deal.
Vela should sell it pronto while the shares are still trading. Hard to imagine it staying solvent/listed for long. There is no way that ends well.
All very odd right from the start, looking back to old RNS when they (sort of) announced the investment, have you ever seen sh*t like this? https://www.lse.co.uk/rns/VELA/statement-re-potential-investment-in-truspine-az2jnnv4i69x5t0.html
Something definitely doesn't add up as to why they bought in, this goes beyond just incompetence.
As a Truspine investor all the shareholders in Vela should be asking major questions to their BOD given the damning article on Truspine yesterday.
https://news.uk.cityam.com/story/2188034/content.html
I think thats the point now Dave. VELA exists to pay the wages of the directors. Whilst there are investments to sell they will carry on selling to pay themselves. They have not demonstrated they are competent to 1) invest 2) run the company. Its a shame we were unable to vote them out on the last agm. We were very close with Brent but nowhere near with the other 2. Chris Cooke must be tearing his hair out.
In life, its often in loss of friends and near misses or health setbacks that we reaffirm the joy of life itself and stop us taking it for granted. Vela is that pain in a financial sense - my other shares feel invigorated in comparison (even the ones in the red!) - lol.
Small cap tech still dead as a dodo but if interest rate drops see money return, the Vela business model may refloat. Pre-IPO funding etc. Its a waiting game (or sell) till then.
No News. It is now at the stage where one must ask what the point of Vela existing?
I wait for news to put us all out of our misery.
The wait goes on and on and on.
How the hell are they still here ?
Exactly right.
And that is why the SP is where it is. The Directors are failing SH everyday they take a wage.
Despite its investment policy, it doesn't seem like VELA did any due diligence on TSP as documents at Companies House and the Admissions document beg many questions, not to forget the narratives weaved in to RNS'.
With a little effort, VELA should have learned enough to ditch this prospective TSP investment, yet it did not. Was this incompetence or worse? Certainly a failing in fiduciary duty to shareholders.
Add the muddle whether VELA were subscribing at all and Peterhouse running a mile...
Add the uncertainties over whether VELA subscribed in the placing and have warrants? Or bought on market without, seeing as VELA has never disclosed warrants in its financial statements, website or TR1s.
CDT has lost half its value since it was in the 3’s.
What a DISASTER.
In fact the whole of the small caps should be bought and delisted as it’s conning all the private investors!
If someone makes a bid they’d need to go with the highest price in the past 12 months (that’s 0.03p at least).
Fairs fair.
Just need someone to make an offer.
Be careful what you wish for. You’d lose your instant access to whatever investment you’ve made. Any ultimate share out of funds would be after all deductions to a myriad of advisors, brokers, lawyers and the like whose fees would make the boards salary or fees seem like pennies. With the SP at a low that is unlikely to be sustainable ( I.e. it will go up in time) staying listed is the best way for people to get money back. If you want out, just sell. Then at least you’d have your cash now ( rather than in 18 months after n deductions). DYOR.
Looks like ( early and may be tempting fate) the CDT selling rush has abated a little for now. There can’t be many early holders left now and presumably sone new will come out about changed holdings eventually.
I’ve already requested shareholders get their money back as the BoD have proved to be so incompetent.
What can you do apart from see your investment value go down ???
Is a buy not a sale. LSE’s usual error.
You can see why TSP tried to grab the £300k before investment was properly signed off. If that was not a red flag and yet they proceeded anyway. Probably time the BoD refreshed themselves with their own Investment Appraisal Policy that was posted here a few days back.
That's a bonkers read, imagine investing £300k in that shambles.
Oh, hang on....
👏 👏👏
In the news again, for all the wrong reasons.
https://www.cityam.com/debts-disputes-and-a-shadow-ceo-the-curious-case-of-truspine/
May I ask what you said to them ?
Mark my words.
Yes Jessie, numerous times.
It seems my comments fall on deaf ears!!