Vela Technologies PLC Further update re. Economic Interest in AZD1656 (9090L)
08 Septiembre 2023 - 9:18AM
UK Regulatory
TIDMVELA
RNS Number : 9090L
Vela Technologies PLC
08 September 2023
8 September 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 announcements on 15 August 2023 and 7
September 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") announced yesterday that the special
meeting of stockholders to approve, amongst other things, its
initial business combination with Conduit Pharmaceuticals Limited
has been postponed further and will now be held on 20 September
2023.
This meeting presents an opportunity for Murphy shareholders to
provide their approval for the transaction.
A link to the previously filed notice of special meeting and
final prospectus can be found here:
https://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, 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.
For further information, please contact:
Vela Technologies plc Tel: +44 (0) 7410 886830
Brent Fitzpatrick, Non-Executive Chairman
James Normand, Executive Director
Allenby Capital Limited (Nominated Adviser) Tel: +44 (0) 20 3328
5656
Nick Athanas / Piers Shimwell
Peterhouse Capital Limited (Broker) Tel: +44 (0) 20 7469
0930
Lucy Williams / Duncan Vasey
Novus Communications (PR and IR Adviser) Tel: +44 (0) 20 7448
9839
Alan Green / Jacqueline Briscoe
About Vela Technologies
Vela Technologies plc (AIM: VELA) is an investing company
focused on early stage and pre-IPO long term disruptive technology
investments. Vela's investee companies have either developed ways
of utilising technology or are developing technology with a view to
disrupting the businesses or sector in which they operate. Vela
Technologies will also invest in already-listed companies where
valuations offer additional opportunities.
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END
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