London-Vela Technologies PLC (AIM: VELA), an investment firm specializing in early stage technology ventures and PREEPO, revealed a decline in total asset value for the quarter ending December 31, 2024. The company's total assets, including cash decreased by 385, 000 to 2,670,000 pounds from 3,055,000 pounds in the previous quarter.
The fair value of the investment portfolio, excluding cash, was reported as £2,623,000, down from £2,952,000 at the end of September 2024. Villa made a loss of £10,000 on investment sales and an unrealized loss of £276,000 on its listed investments during the quarter.
Villa's cash balance fell to £47,000 from £103,000 over the same period. The company continued its strategy to realize parts of its investment portfolio, with the aim of reinvesting in opportunities with potentially higher returns, said CEO James Normand.
In connection with portfolio activity, VELA has made a new investment of £50,000 in a convertible loan note in Igraine PLC, part of a commitment of at least £200,000 on 21 October 2024. The company also reported on key investor company developments, including Ensilica's strong contract leverage and growing PLC skill set. Meanwhile, Tribe Technology PLC has announced its plans to list and Social Investment Company (CSIL) (CSIL) has announced its interest in Weshop Holdings Limited pending a sale or listing.
There have been no material changes reported to Aeristech Limited since October 2024, and the company is awaiting due diligence by a potential master saltmaker and/or buyer. Igraine PLC has made an investment in GEM Energia Limited and has drawn an additional £50,000 from Vela Post-Quarter.
Vela's interim report for the half-year ending September 30, 2024, was published on December 18, reflecting the results of the quarterly updates in August and November. The company has held discussions with several investor companies, including Aeristech Limited and Hamak Gold Limited, to explore mutually beneficial solutions.
The investment update is based on unaudited management information and follows the valuation policies described in the company's annual financial statements. This press release statement provides the source for the numbers and developments reported.
This article was created with the power of artificial intelligence and reviewed by an editor. For more information, see T&C.
