Business
Further update re. Economic Interest in AZD1656
Further update re. Economic Interest in AZD1656.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n\n8 September 2023\nVela Technologies plc\n(\"Vela\" or \"the Company\")\n \nUpdate on Put Option for potential sale of Economic Interest in AZD1656\nFurther 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.\n \nThis meeting presents an opportunity for Murphy shareholders to provide their approval for the transaction.\n \nA link to the previously filed notice of special meeting and final prospectus can be found here:\n \nhttps://www.sec.gov/Archives/edgar/data/1896212/000149315223027856/form424b3.htm\n \nOn 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 £4.0 million. The Option was granted by Conduit Pharmaceuticals Limited (\"Conduit\") and its prospective parent company, Murphy, a Company listed on NASDAQ.\n \nOn 15 May 2023, Vela announced that Murphy had filed the Form S-4 Registration Statement and preliminary proxy statement with the SEC.\n \nAs 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.\n \nThe Company will release further announcements as and when appropriate.\nFor further information, please contact:\n\n\n\nVela Technologies plc\nBrent Fitzpatrick, Non-Executive Chairman\nJames Normand, Executive Director\n\n\nTel: +44 (0) 7410 886830\n \n\n\n\n\nAllenby Capital Limited (Nominated Adviser)\n\n\nTel: +44 (0) 20 3328 5656\n\n\n\n\nNick Athanas / Piers Shimwell\n\n\n\n\n\n\n\nPeterhouse Capital Limited (Broker)\n\n\nTel: +44 (0) 20 7469 0930\n\n\n\n\nLu...