Vela is made a profit after tax of £184,000 in the six months to 30 September compared with a loss of £50,000 the year before, driven by the sale of shares held in BTL Group. Net assets increased to £3,152,000 at 30 September 2017 when compared with net assets of £1,926,000 at 31 September 2016 and £2,969,000 as at 31 March 2017. Vela's cash balance at 30 September 2017 was £526,000, up from £350,000 a year ago. The company invested a further £50,000 into Rosslyn Data bringing the total holding to 1,411,111 shares representing 0.75% of the issued capital. Vela both added to its investment in BTL and sold 76,700 shares during April and 50,000 shares during May. Following the end of the half year, Vela participated in a follow-on round of investment in Vibe Tickets. In addition, Vela entered into a conditional agreement to invest approximately £200,000 to acquire a minority stake in African Hydrocarbons (to be renamed BlockchainK2). On 13 December 2017, the company announced a placing to raise £750,000 which has enhanced the company's working capital position.
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