Vela Technologies PLC Update re. Economic Interest in AZD1656 (2903J)
15 Agosto 2023 - 8:00AM
UK Regulatory
TIDMVELA
RNS Number : 2903J
Vela Technologies PLC
15 August 2023
15 August 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 announcement on 15 May 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") has
now received a notice of effectiveness from the United States
Securities and Exchange Commission ("SEC") which can be found
here:
https://www.sec.gov/Archives/edgar/data/1896212/999999999523002356/xslEFFECTX01/primary_doc.xml
.
As such, Murphy has formally notified its current shareholders
that a special meeting will be held on 7 September 2023. This
meeting presents an opportunity for Murphy shareholders to provide
their approval for the transaction.
A link to the 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 on 20 April 2023 and 15 May 2023, 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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