Legendary Inv. Share Discussion Threads

[professor pettigrew] 06/3/2017 18:49

Excellent post samtheman1 and many many thanks for it.

Very interesting your cut and pastes, Zaf is a canny soul, if we need £5m to bring us up to 10%, I'm sure he won't go for it unless he knows in advance (as a shareholder too), that it will be good value.

Thanks again.

PP

[ride the wave 1] 06/3/2017 18:44

Well HELLO 😁,

Always said that it was John Lewis 😜

And the silent one is Sainsburys imo 😋

GLA

[sam the man1] 06/3/2017 17:19

Prof now the frenzy is over can I say that you are right I haven’t included any other LEG investments in my assessments earlier today but here is a little bit of info on our investment with VS.

Cut and paste from RNS 30/10/12

Legendary is pleased to announce that it has negotiated a small minority stake in VirtualStock Limited ("VS") for a consideration which includes strategic, financial and business consultancy services to assist VS to develop rapidly its business and just over £50,000 in cash. In addition, Legendary has negotiated an option to double its stake in VS at an increased valuation.
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Cut & paste extract from the LEG Annual report & accounts 2014

In June 2014, post balance sheet, Legendary exercised all of its derivative instruments in Virtualstock taking its equity holding in Virtualstock from 2.2% to 5.6%.
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My interpretation of this is that we DO NOT have an option to buy any more VS shares and here is my take on where we are today: -

2012 LEG bought 14,655 (2.2%) shares in VS for £50,000 with an option to buy more.

20/2/14 VS sub-divided their shares by 100 meaning we now had 146,558 shares.

By 27/5/14 VS had allotted 737,018 shares and LEG bought 225,683 of those taking us to 5.6% and had used up all the deals.

On 27/4/15 the share ownership gets slightly muddled because VS allot a further 406,015 shares plus there is a lot of swapping between, VS directors, VS staff, outsiders and LEG. The net result was, and still is, that LEG own 447,428 (7.01%) of the 6.38M VS shares in circulation.

5/10/15 Jenkins buys 83,334 (1.3%) shares from the VS Directors, Bradley and Ingram. VS was valued at £58M on this date and LEG share of that at £4M

I welcome any alterations that anyone would want to make to this but as gbenson1 points out, depending on the value you put on VS, LEG would need at least £5M to get another 3%, £5.3M if we believe Beaufort’s valuation of £178M and £7.2M on a £240M valuation.

🍋

And sorry guys the last deal of the day was me top-slicing. As the saying goes 3-steps forward 2-steps back. If I'm right, I'll buy them back later this week when the sharks have finished feeding and if I'm wrong my mini-dealing over the last two weeks has left me with 180,000 that cost me nothing at all and are worth £400 at the closing price. I’ll never be a trader but it's fun trying.

[professor pettigrew] 06/3/2017 17:16

KK - no idea. I did send a post earlier on to ask where he was, but no response.

I'll send him a PM.

[kemorkid] 06/3/2017 17:06

Prof,
Where is my ould friend RTW?

[professor pettigrew] 06/3/2017 16:49

Obviously now going to be worked in the morning, so expecting to see my 1.5m buy show up first thing.

[professor pettigrew] 06/3/2017 16:40

Still showing at pending, the money has been taken out of the account, so I would think the 1m buy would be executed first thing in the morning.

[professor pettigrew] 06/3/2017 16:34

Well, the order is in, and was logged before the bell, 1,000,000 at limit 0.25p, fill or kill.

Maybe being processed now, or will be done first thing in the morning.

[professor pettigrew] 06/3/2017 16:30

"Fill or Kill" 1,000,000 at 0.25p limit.

[philmiboots] 06/3/2017 16:28

Quick Prof someones just sold half a mill.

[professor pettigrew] 06/3/2017 16:28

Can't even get that or 75k.

A piddling 25k to see whats going on.

[professor pettigrew] 06/3/2017 16:26

Am going to try 100k again.

[philmiboots] 06/3/2017 16:26

4 minutes to go, the suspense is killing me. Will he or won't he?

[yorgi] 06/3/2017 16:21

We will see another move up before the bell or marked up in the morning I would have thought :-)

[yorgi] 06/3/2017 16:20

That was meant for the post before Prof.......Philmiboots suggestion of buying 1 share :-)

[tini5] 06/3/2017 16:19

Quoted .249 to buy 100,000. Looks like there's no stock Prof.

[professor pettigrew] 06/3/2017 16:18

Its not LOL yorgi - it's frustrating.

[professor pettigrew] 06/3/2017 16:17

Order in for 1.5m at 0.24p limit. May just sneak that one in before the bell.

[professor pettigrew] 06/3/2017 16:15

No luck whatsoever.

I'm going to have to go over the offer to get 1.5m before the close.

Will send a manual order to my broker.

[philmiboots] 06/3/2017 16:14

Try a 1 Prof.
Anything could happen then!!

[professor pettigrew] 06/3/2017 16:13

Not even that will go through.

I'll try a small order 50k.

[professor pettigrew] 06/3/2017 16:12

Can't even get that online.

I'm going to try an odd number - 169,000 see what happens.

[yorgi] 06/3/2017 16:12

Another move up coming then Prof P :-)