Since its loan note fundraising at 0.15p Vela (VELA) has been busy. Firstly it has invested £200,000 in THEVIBE. It trades as Vibe tickets and allows fans to buy and sell tickets for events at face value. It cuts out scalps and so is a good business and has been endorsed by Which. Whether it makes any money for investors is yet to be proved.
This is a tad frustrating. Good news on the 2nd about an investment it has made. Then on September 5 came results for the year to March 31 for Vela Technologies (VELA). half way through September the numbers were pretty meaningless.
Vela (VELA) has updated us all on the performance of Revolve which it punted £50,000 on in June 2015. Revolve is an automotive engineering business that also owns a leading performance parts brand, Mountune. Mountune's products are used by consumers and racing teams to enhance engine performance. The company has exclusive rights to supply branded and warranted performance parts through the Ford Dealership networks in the UK and US.
Vela Technologies (VELA) has followed an announcement that it has completed a follow-on investment in luggage transfer business Portr Ltd, with an announcement of “Further investment in BTL Group Ltd”.
Vela Technologies (VELA) has announced that it has raised a gross £0.22 million at 0.16p per new share in particular to further invest in luggage transfer business Portr Ltd.
Vela Technologies (VELA) has noted an announcement from BTL, the Canada-listed technology group in which it has a 700,000 shares (circa 5% of the current fully diluted equity) interest, that BTL has entered into a binding letter of intent to acquire Xapcash Technologies Inc.
Vela Technologies (VELA) has noted an announcement from 3.8% owned investee company 3Legs Resources of the latter’s suspension of trading on AIM pending a reverse acquisition (and thus implementation of its investing policy)
Vela Technologies (VELA) has announced results for its year ended 31st March 2015 and reiterated that “based either on valuation events or the market value of portfolio investments, the board of Vela believes the value of the underlying portfolio is significantly higher than the value attributed by the market to Vela at this current time”…
Vela Technologies (VELA) has announced that it has conditionally (including on General Meeting approval) raised a gross £0.25 million at 0.2p per share for further investment and additional working capital, along with a proposed new £0.175 million investment.
Vela Technologies (VELA) has updated on another substantial valuation uplift in one of its investments, this time in ‘social commerce’ platform The Social Superstore Ltd.
Vela (VELA) is a stock that we have tipped on HotStockRockets and it looks an interesting play. The shares are 0.2p and I reckon that NAV could well be in excess of 0.5p. Of course most of investments are illiquid private companies so the shares will always trade at a discount to NAV but the current discount seems excessive.
At the bottom end of AIM there are a raft of investment companies most of which are absolute POS lifestyle companies. It is all too easy to write the lot off as vehicles to allow useless directors and City parasites to milk the gravy train, if that is not mixing metaphors. But there is the odd nugget of value and that brings us to this month’s share tip of the month, Vela Technologies (VELA).
