Legendary Inv. Share Discussion Threads

[professor pettigrew] 02/8/2017 14:47

There is still obviously a surplus of stock floating around, thanks to our trustees and warrant convertors, but it's nice to see it mopped up as well with buys like 4m or so.

Very soon the worm will turn, especially when we get more positive news.

[professor pettigrew] 02/8/2017 12:45

Looks like the trustees/warrant convertors are having their last hurrah.

[professor pettigrew] 02/8/2017 07:49

Good morning all and good luck to all genuine holders.

I wonder whether we will see some large buys again today?

Very interesting to see a 7.3m purchase yesterday afternoon. Whether from across the pond or here in the UK, it's good to know that interest in LEG is increasing.

[gbenson1] 02/8/2017 07:41

Mornin all, yorgi not that it's really important in the scheme of things my original moniker, which was messed up by ADVFN because of login problems was djgrantb. You mention in one of your post about being in the best interests of shareholders, I gauge a BOD competency is reflected in the value of the company - the share price, and yet with all the positive news in the public domain from VS how has the share price reacted? The recent decisions by the board have neither been in the best interests of Legendary Investments or their shareholders!!

[yorgi] 01/8/2017 22:08

Gbenson you should know the company well then after all that time. What username were you using to post before Gbenson1 ?

I have no idea how much money they have left in the kity but they can't just release RNS unless there is something to announce. At the level the market cap is below our share of VS and that is assuming no value to our other investments.

Surely if anyone moved to try and takeover LEG then the price would move up quickly as we sit at discount to our share of VS at this share price

I could be wrong of course but that is how I see it.

[professor pettigrew] 01/8/2017 20:39

Well, gbenson1 - I have to disagree with you on most points there. RNS's come through when they are ready, I can't see, looking back over the last year of them, they have been "selectively withheld" for any reason.

I view the (admittedly) small increase in our VS stake as a very positive move indeed. I keep making the point, but Zaf has 166,000 shares in VS for his own account, so obviously thinks the money spent on such a tiny increase will be well worth it for LEG in the longer run.

As for a further placing, well, that's in the lap of the gods. We have spent heavily on our increased VS stake yes, but we have quite a bit of converted warrant money as cash left.

A bid? Not on at the moment, in my view. But if it is, it will be at a lot higher price than the ridiculous quite of 0.13p we have on view at the moment.

I have only been a holder here for around 4 years, so congratulate you on your patience.

I'm sure it will be well rewarded, sooner than you think.

[gbenson1] 01/8/2017 20:23

Having done some further research, a few alarming points have been unearthed. One of the main complaints about this stock is the lack on updates/RNS throughout the year. Positive RNS are generally only released by the board prior to a share placing to increase the share price and to get the placing away at a certain price, it's my belief that selected positive RNS have in the past been "withheld" for this purpose. We don't have a great deal of cash in the bank and yet the board decided to spend a large amount of our remaining available capital for a further paltry 0.4% of Virtualstock, in addition the loan for £30,000 for the 260,000,000 warrants is to be repaid within the next few days (5 Aug 2017), we are now perilously close to having no cash, all will be revealed in the upcoming year end results. Therefore I believe either a further placing will be necessary sometime in the near future but certainly no later than May next year, or we will be taken over for a knock down price. I look forward to the release of the positive RNS in the coming months!! I have held this stock for 15+ years.

[mickluv1] 01/8/2017 19:32

Sam you are correct re your post however the end of year results support the fact that there are in excess of 200,000,000 warrants that are available to exercise on or before 04.08.17, the good news is that after that date there are no more so onwards and upwards!

[professor pettigrew] 01/8/2017 18:14

Well, our results are due before the end of August, so all will be revealed then.

Before then, I expect some very positive news indeed from VS.

[yorgi] 01/8/2017 18:02

Money is required for ongoing corporate costs. Salaries, NOMAD, broker and AIM all have to be paid. I have no idea where the money went but we can only trust that the money was used in the best interest of LEG which is of course the best interest of shareholders.

[sam the man1] 01/8/2017 17:32

Mickluv1

I was under the impression that the warrant was called on earlier this year and the money received paid off the £30,000 loan.

Apologies to everyone if I'm wrong but it’s easier to plat fog than find out what’s going on here. Below is part of the RNS but no mention of where the money went 🍉

28 April 2017
Legendary Investments PLC
Exercise of Warrants and Issue of Equity

Legendary Investments PLC announces that it has received notice from certain of its warrant holders for the exercise of 32,272,727 warrants over ordinary shares of 0.1p in the Company for a total consideration of £32,727. Accordingly, the Company has issued 32,272,727 new Ordinary Shares.

[kemorkid] 01/8/2017 16:52

What the fuzz is mansgement at so???

[mickluv1] 01/8/2017 16:42

I've done a bit of digging today and we have approximately 215,000,000 shares on warrants at 0.1 that must be exercised or lost by 4th August 2017 as the exercisable date was extended for 2 years from 2015 to offset the payment of a paltry £30,000 loan which has no interest! Once the 4th passes there are no warrants at any value outstanding! In a nut shell to avoid paying out £30K in 2015 we've damaged our market cap by £800K!

[professor pettigrew] 01/8/2017 15:07

gbenson1 - agree.

I've done my bit by mentioning the VS float and the way into through LEG to my relatives in the US. I wouldn't for one moment say they've bought any, but it plants the seeds of LEG's future potential for starters.

Encumbent on us all, I feel, to spread the word. Once the real value of VS is out, LEG shares should then take off.

It's all about contracts, expansion, overseas markets, strong recurring revenue, and the eventual float.

A lot to look forward to and exciting times ahead.

[gbenson1] 01/8/2017 14:31

Phil, trades 5&6 are sells, think the 7m trade could be from across the pond, they don't do half mils !!

[philmiboots] 01/8/2017 14:13

11 mill of buys today and no MM price changes - another 30 mill sell in the pipeline?

[kemorkid] 01/8/2017 12:36

Thanks Sam
Just did s dummy sell of 5 mill shares
Through HL
They would give me 12.55
Interesting !!!

[sam the man1] 01/8/2017 12:34

KK

You can read about Chandler on the link PP posted.

This is the link to VS on companies house.



🍉

[professor pettigrew] 01/8/2017 12:01

Not what you asked for KK, but an interesting snippet from the Notion website on their view of VS.

[kemorkid] 01/8/2017 11:39

Where do I access that info Sam
Sounds very promising

[professor pettigrew] 01/8/2017 11:11

Notion definitely mean business sam.

Look at their previous track record.

They will determinedly prepare VS for a breakthrough in the American market, help with contract securing here (and at the same time probably speed up the NHS roll-out), then liaise with the relevant people to get ready for the float.

As I keep saying, before then VS have to be in a position of strong recurring revenues and contract procurement. My target price for the IPO is in the region of a value of £250m minimum.

[sam the man1] 01/8/2017 10:50

VS directors swapping seats.

Harrison director and 2% VS shareholder replaced by Chandler, co-founder of Notion.

Signs that Notion mean business?

🍉

[professor pettigrew] 01/8/2017 10:10

Lol! Bit of a Horlicks there sid!

Actually I agree, but Zaf isn't to blame for the trustees disposing of stock. Also we get the warrant money, not really concerned about that.

But, buying back some shares, yes, would be a positive move.

Content to quietly accumulate here and there ahead of positive news.

[carefreesid] 01/8/2017 10:01

:) Yes, sorry, bankrupt, not deceased.

[philmiboots] 01/8/2017 09:41

Deceased person?
Might be several deceased persons at this rate!