Legendary Inv. Share Discussion Threads

[anton85] 07/8/2017 09:33

Nominal value I'm guessing is in the region of £5,000 or 12% of company set up costs. Future value of this kind of platform will depend on the deals they strike, but with the right contacts and Know-how it will be in the millions or multiples of millions. IBS obviously think that Zafar is their way into the UK market, and his CV certainly shows he has the experience and know how. For Zaf it opens up a huge funding option. It's excellent news.

[martle3] 07/8/2017 09:30

Started recruiting already.

I only hope that the agency is better at selecting the right person than they seem to be at spelling!

hxxps://www.seek.co.nz/jobs?advertiserid=37809979

Cheif Investment Officer
IBS Corportaion Limited
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Cheif Investment Officer
CHIEF INVESTMENT OFFICER

A newly established banking services platform in New Zealand requires a consummate professional as Chief Investment Officer.

The appointee will be a very experienced investment banker with an extensive knowledge of the Swiss banking and financial sector with extensive global exposure. Knowledge and experience in the private client and family office areas of banking would be desirable.

Access to the Swiss and European investment banking origination and family offices is essential and knowledge and experience in the India, China and South East Asia markets is expected. The appointee will have an impeccable global network with particular emphasis on the aforementioned markets. Due to our Swiss and European focus, fluency in written and spoken French is a pre-requisite and German is highly desirable.

Strong risk management skills with the ability to build corresponding banking relationships. structure and execute transactions globally, together with meaningful origination capabilities are essential for this challenging position.

This is a unique opportunity, based in Auckland, New Zealand, to work as a key member of a small dynamic core team. Please provide a comprehensive curriculum vitae.

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[professor pettigrew] 07/8/2017 09:12

Nice one Zaf. He's taken some stick lately, but hasn't been resting on his laurels. This looks a very interesting initial investment here.

Not alluding to your comment Phil, but it's nice to be in at the bottom!

[mickluv1] 07/8/2017 08:50

Why does the RNS not state the investment value! Does anyone know how to find out how much this 12% stake has cost and what the returns may be! It's nice to see the portfolio growing but updates on existing investments are much needed here.

[philmiboots] 07/8/2017 08:44

Looks like you really do have Irritable Bowel Syndrome to contend with now Prof!

[professor pettigrew] 07/8/2017 07:20

Good morning all, and good luck to all genuine holders.

I'd like to see last week's buying interest continue now ahead of news.

[professor pettigrew] 04/8/2017 12:12

KK - yes despite the recent selling and yesterday's RNS, the mm's will still pay over the bid for a decent chunk of stock.

It could just be that whoever is converting 80m warrants this time will hang on to their shares. Their only chance to pick them up for 0.10p imo.

[tini5] 04/8/2017 12:01

I know lol.

[tini5] 04/8/2017 11:52

12p party has arrived early...

[kemorkid] 04/8/2017 11:27

I can still sell 5million for 12.36
Something not adding up here!!!

[professor pettigrew] 04/8/2017 09:03

All I can say tini5, is I hope you don't resemble her!

Big LOL's to that. Even Zaf would have a laugh I reckon.

[professor pettigrew] 04/8/2017 07:25

And just to finally clarify my post 7754, which seems to have been the subject of some questioning, yes I probably didn't make it clear, but the gist of my post was that if VS attain "unicorn" status our share stake if worth around 2.3p.

What I was getting at was if this happens, as we are technically an investment trust in all but name, in theory we could liquidate it and pay all shareholders something near to the value.

So, in essence, what we are doing here is investing on the possibility of VS giving us a massive increase in our current NAV. If the share price doesn't quite follow suit, as it's not doing at the moment because it's trading under the NAV of VS alone, then buying this stock at the current 0.13p offers far more risk/reward value to the buyer than to anyone who cares to convert a warrant at 0.10p and try and sell it now for a derisory 0.12p.

Last word on the subject.

[professor pettigrew] 04/8/2017 07:20

Morning all.

Morning sid - interesting comments there.

At the risk of repeating myself, I'll just lay out my case one more time as to why I see a huge undervaluation here.

Let's ignore all of our other assets and concentrate, for the sake of argument, on VS alone.

They have been in existence for a number of years, and each year the loss has been pared, so as for the last known year it is derisory and they are obviously now moving into profit.

LEG took at stake in them when they were valued at under £10m. Nick Jenkins of Moonpig took a stake when they were valued at £58m. Now they are valued at £66m.

They have, in the time LEG came on board, garnered a major contract with the NHS, admittedly there has been a blip, but the roll-out to the whole NHS is expected within the next 6 months or so. They have, in the time LEG came on board, taken on some major clients, the last of all being John Lewis.

Notion capital, who I humbly suggest know more about VS than you or I, or indeed anybody on this thread, have now put in £4m for a stake. If you look at their track record, they aren't inclined to back losers, and would have done due diligence and will be looking for a solid profit on their investment going forward.

VS have beefed up their board, and in an interview with the Telegraph have now stated they plan to break into the international markets, the US in particular.

They have also stated they plan a float on NASDAQ "within 18 months".

Those statements came just after Notion had taken their £4m stake.

Zaf owns 166,000 shares in VS and has a lot of inside knowledge. He would not have spent £250,000 of our cash for a very small increase in our stake just for fun.

Admittedly we are issuing more shares, but we retain the warrant conversion money as cash, so our cash position is fine.

There, done.

Everybody here is entitled to their opinions as to whether VS will come up with the goods or not. I think the above should be enough to convince them that we are tied up with, yes a small company at the moment, but one that will grow exponentially as time goes on.

So, I don't intend to repeat any of the above again here, can we now move on please with other comments?

PP

[carefreesid] 04/8/2017 06:35

PP

re 7754

If that was genuinely the very worst scenario, the share price would be a lot higher as there would be zero downside from here.

Whilst you maybe correct, it is not factually the case. VS is still a relatively small company trying to get in with the big multinationals and state run areas, but the big question, in fact the only question, is whether they can make any decent money doing so.

If they can, LEG is cheap as chips at 10 times the price; if they cant?

Its almost s binary bet.

[professor pettigrew] 03/8/2017 23:57

KK

It is frustrating, I grant you, but keep the faith.

One thing that sustains, is the fact we increased our stake, albeit in a small way, in VS.

Zaf must know what's going on. I don't think he would waste £250,000 for nothing.

[kemorkid] 03/8/2017 23:13

VS Need to produce the "goods" though
And there has been very poor evidence of this happening Prof .
We have heard of promises but that doesn't
Bite the cherry- signed verified contracts please.
I for one am very disappointed at this stage - I currently hold 66 mill shares and on tues was very tempted to switch my Kainos and Bt holding into Leg but .....
We need Zaf on some sensible PR but he dissappoints me too
Frustrated
KK

[professor pettigrew] 03/8/2017 15:48

mickluv1 - here is the very worst case scenario.

We agree that currently, with VS valued at £66m it equates to a LEG share price of around 0.16p.

All of us here certainly agree that there is only one way for the valuation of VS to go, and that is up. So, our current share price is more than underpinned by our asset value of VS.

We then have 4 or 5 other assets. I don't think anybody has any idea of their net asset value, but if its zero then we are still underpinned by the VS valuation.

Now here's a thought. We carry on holding VS, they eventually attain "unicorn" status (with the aid of the float) and our stake is worth circa £70m or 2.3p per LEG share at current rates.

Zaf then sells our stake and pays a dividend of 1p per share to shareholders.

That's why I say the risk/reward ratio here is hugely in favour of buyers of LEG stock, not sellers.

[professor pettigrew] 03/8/2017 15:27

At the end of the day mickluv1, if we have lots more warrants converted, it may just be that Zaf increases our stake again in VS.

So, although we will have more shares in issue, it's just a swap into pound notes and then into VS stock.

If he doesn't do that, we have the cash in the bank, for any future investment projects.

I know it's a tad frustrating, but Zaf is no fool. Even if our other 4-5 projects come to naught, the potential win in VS vastly overshadows them.

Remember, he has mentioned more than once about building VS into a "unicorn" company.

If that happens, our 7% alone will be worth 2.3p per LEG share, almost TWENTY times the current share price And with swift progress with help from Notion, the NHS roll-out complete, more contracts, and eventually the float, "unicorn" could come very quickly out of the blue.

So, if the warrant convertors want to sell for a (very) small profit, that's their business. Buying LEG at 0.13p and even up to 0.5p represents a very good risk/reward investment going forward.

[professor pettigrew] 03/8/2017 14:20

Well, the warrants were issued originally, we all knew about them, so you can't blame the holders for wanting to exercise them.

It's cash in the bank for us though remember. I tend to think that news like this overshadows the big picture, which is the continuing progress at VS.

Those are the RNS's that will get the investing world talking eventually.

Let's see this through and then see just what VS have achieved.

It's really no big deal in the big scheme of things.

[mickluv1] 03/8/2017 14:00

Another 80,000,000 warrants issued just one more RNS for circa 235,000,000 more and we are clear baring the 45,000,000 due in November! Maybe we will see a recovery next week! This whole thing has not been managed with the shareholders in mind and Zaf for me ought to take stock of that!!!

[mickluv1] 03/8/2017 08:02

Good morning all

[professor pettigrew] 03/8/2017 07:17

Good morning to all, what will today bring forth?

Another tranche of the trustee/warrant convertor selling? Some big purchases yet again?

All will be revealed.

Good luck to all genuine holders.