Eight Peaks Share Discussion Threads

[apotheki] 16/5/2024 13:10

Virtualstock Holdings Limited Share Purchase

Primorus Investments plc (AIM: PRIM) is pleased to announce it has purchased 250,000 ordinary shares in Virtualstock Holdings Limited ("Virtualstock"), from a shareholder of Virtualstock, for a total consideration of £500,000 from the Company's existing cash resources. The shares represent approximately 1.7% of Virtualstock's issued share capital on a fully diluted basis. In addition, Hedley Clark, Non-Executive Director of Primorus, has purchased 75,000 ordinary shares in Virtualstock for a total consideration of £150,000 from another shareholder in Virtualstock (both purchases, the "Share Purchase").

For the 11-month period ended 29 February 2024, Virtualstock had revenue of approximately £4.3m and made a net income loss of approximately £400k.

More information about Virtualstock can be found on its website: hxxps://www.virtualstock.com/

Related Party Transaction

The Share Purchase constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules by virtue of Hedley Clark being a director of the Company and participating in the Share Purchase detailed above. Matthew Beardmore and Rupert Labrum, being directors of the Company independent of the Share Purchase, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, consider that the terms of the Share Purchase are fair and reasonable in so far as the Company's shareholders are concerned.

Rupert Labrum, Chairman, commented: "We are excited about this investment opportunity, which allows our shareholders to have exposure to an innovative technology company operating in a high-growth sector. Virtualstock is Europe's largest dropshipping and curated marketplace SaaS, which provides its cutting-edge solutions to some of the biggest retailers and merchants in the UK."

[chinese investor] 23/12/2023 12:49

You'll find him at Rules of Covent Garden with his chums most days !

[fatfish] 22/12/2023 18:48

kemche14 Dec '23 - 18:31 - 146 of 149
0 0 0
A lot going on behind the scenes according to Dave.

who is Dave?

[fatfish] 15/12/2023 06:24

I totally agree Zipster, especially post 145, exactly what I thought.
Where does a million quid disappear to when your supposedly taking no salary.

[zipster241] 14/12/2023 21:14

can someone explain why the number of shares matters ? Once Karim had "bought" enough listed shares to turn private (by voting for it himself), he will mop up any value, the number if shares is irrelevant now as he is the majority holder and makes the decisions on his own

[langland] 14/12/2023 19:31

Does anyone know how many shares are outstanding?

[kemche] 14/12/2023 18:31

A lot going on behind the scenes according to Dave.

[zipster241] 14/12/2023 18:00

id suggest he is doing the following

5 mill on the balance sheet for 2022
4 mill for 2023
2-3m for 2024
less for 2025
eventually Zero as he would have paid it all to himself or hidden it ?

yeah this, it much easier to wind up the ltd co. The value of the listed company even as a shell was £500k yet he didnt sell it on, he delisted it, knowing that he wanted a clean break from reporting requirements in lse.

The man is a crook and guilty of defrauding a lot of shareholders, however here he is sending out updates

[fatfish] 31/12/2022 08:20

Not really following, thought it had gone forever and then got letter through post.

Don't expect any return.

Packed in share buying 5 yrs ago just have worthless(cost me a lot) share certs now in case I get stuck for toilet paper

[zipster241] 30/12/2022 19:04

Not sure why you are following this crooks Ltd. Company ? Obviously no one will ever get anything back at all from Zafer Karim. Took everyone for a mug, took all the shareholders wealth for himself.

[fatfish] 30/12/2022 17:25

hxxps://8pg.co/

Yep it's all here

For some reason it wont let me put the 2 t's in and they come out as xx's

so change the x's for t's

[the chairman elect] 30/12/2022 15:25

Take a look @ Companies House ref: 8PG

29 Dec 2022 Micro company accounts made up to 31 March 2022

View PDF Micro company accounts made up to 31 March 2022 - link opens in a new window - 6 pages(6 pages)

[the chairman elect] 30/12/2022 14:15

Do they have a website any more? If so what is the address?

[the chairman elect] 30/12/2022 14:12

Thank you for the initial posts fatfish - anything further would of course be very much appreciated

[fatfish] 29/12/2022 16:09

will see if i can do better later

[fatfish] 29/12/2022 16:08

cant copy and paste it will see if i can do it later

profit for 2021 was £246,680
profit for 2022 was £974,683

administrative costs down 77% to £8000 from £37,000 last year

virtual stock last previous year value £2.638,000 now £3,180,000
block apt £1,064,000 now £1,622,000
crowd for angels £360k now £360k
dunraven resources £171k now £86k
ibs corp £56k now £28k

[the chairman elect] 29/12/2022 15:30

No fatfish - could you please share or at least post a few bullet points?

[fatfish] 29/12/2022 15:06

Still alive then, anyone else had some A4 sheets posted.

[colnabean] 27/10/2022 22:48

For all us major stakeholders in this dynamic Company I'm happy to inform you that the Company made a hughmungus profit of £247k in the year to March 2021. Maybe now Dave can at last RIP

[angelwatch] 13/7/2022 11:43

I've been told Tim Munroe-Keene died in the shower of a heart attack the week before last.

[bionicdog] 10/4/2022 19:25

I was invited to New York for the 1p party.

[northernfrank] 10/4/2022 18:43

I have to ask....Did any of you attend a dinner party in the Legendary Investment days,,,?

[the chairman elect] 31/3/2022 07:50

If we can move away from the Millwall scum for a bit can anyone on a serious note provide a link to and/or commentary reference the latest VS results please?

Additionally any feedback on how the NAV @ 8PG might alter post these results would be most helpful!

[bionicdog] 29/3/2022 14:22

I wonder if the rest of the 1p party are still in touch.