Vela Technologies Provides Update on EnSilica Investment
Why we think this is neutral
The RNS provides a factual update on Vela's investment in EnSilica, with no major implications for the company's performance or valuation. The information is largely positive, with EnSilica reporting strong financial results, but the update is routine in nature and does not indicate a significant change in the investment thesis.
Key Points
- Vela sold 425,000 EnSilica shares, generating £196,864 in net proceeds and a £10,625 realized gain
- Vela now holds a 0.25% stake in EnSilica
- EnSilica reported revenue of £25.3 million and operating profit of £0.9 million for the year ended 31 May 2024
- EnSilica had net assets of £22.5 million as of 30 November 2024
Summary
The investing company provides an update on its investment in a technology firm, reporting a realized gain from share sales and positive financial results for the investee company.
Vela Technologies (AIM: VELA) has provided an update on its investment in EnSilica plc, a fabless mixed signal ASIC designer. Vela has sold 425,000 EnSilica shares, generating a realized gain of £10,625, and now holds a 0.25% stake in the company. EnSilica reported revenue of £25.3 million and operating profit of £0.9 million for the year ended 31 May 2024, with net assets of £22.5 million as of 30 November 2024.
GENERAL UPDATE