Legendary Inv. Share Discussion Threads

[professor pettigrew] 08/8/2017 07:26

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

The more I think about yesterday's RNS, the more exciting it looks. A unique chance to be in on the ground floor of a brand new company with rapid expansion desires. One look at the advert yesterday shows they will be starting with top notch people, so I'm expecting a very interesting ride with now IBS and VS.

[professor pettigrew] 07/8/2017 17:28

Precisely Mickluv1. In all honesty, I felt the RNS was perfectly adequate, and gave enough information.

The word "nominal" though seemed to have caused some unwanted consternation.

Shall we say that we've spent maybe a "nominal" £10,000 on a 12% stake in a financial start-up. It's based in NZ, so it's a clean sheet of paper. Granted, as was said earlier, there are already established wealth advisors there, but people do sometimes switch, as they do energy and bank accounts. This could be a very exciting investment for LEG as IBS get busy.

It will be fascinating to see how this pans out. It could be a very nice cash cow indeed.

[mickluv1] 07/8/2017 16:56

I feel that the RNS needed more detail we are however invested in an investment vehicle so this is to be expected it may be one for the future it may not this is the chance we are all taking

[professor pettigrew] 07/8/2017 14:46

Lol KK - I was thinking along the same lines.

We have to hope it's not out of a bottle.

[kemorkid] 07/8/2017 14:43

Like your analogy catefreesid
Hopefully some day I'll meet the blond
🍾

[professor pettigrew] 07/8/2017 14:40

Colnabean - you weren't being lectured. If you don't like my style, cross to the other thread.

I'm sure they will welcome you.

And don't threaten me either.

[colnabean] 07/8/2017 13:49

Prof I don't need a lecture from you so watch who you choose to cross swords with. What was the nominal value per share e.g. 0.001 and why was its value not disclosed. The next thing we'll know is we'll have a placing to buy £2m or so of shares in a Company currently worth naff all.

[professor pettigrew] 07/8/2017 13:42

Well, let's all sit back and see what transpires. I agree with you re VS, of course it's the jewel in our crown, but if Zaf had sat back and done nothing, he would have been pilloried. He seems to be getting pilloried for investing in IBS.

As you know, no business can just rest on their laurels.

I believe we are at the start of a very exciting time for LEG. Let's see what the share price is this time next year.

[carefreesid] 07/8/2017 13:39

I have been lucky enough to have been there, PP.

Obviously there are some wealthy people there, as there are in all advanced countries, but those with serious wealth have presumably already spoken to the likes of UBS wealth management, and havnt been sittng around with their millions in the bank waiting for LEG NZ to come along.

I'm not negative about it, just extremely neutral.

[professor pettigrew] 07/8/2017 13:37

Did you seriously read the RNS sid?

I know some people in NZ and believe me there is a LOT of money there.

IBS also plan to expand parts of the world, so it's not all about NZ.

I just do not understand the negativity of some on here of late.

[carefreesid] 07/8/2017 13:34

I dont see it as positive myself. I see it as severely neutral.

Wealth management in New Zealand? Wealth management is an extremely crowded business, and whilst that may not necessarily be the case in NZ, that could be because there's not many wealthy people there. In fact, there's not many people there full stop!

The nominal sum might become triple the nominal sum in a few years, but its not exciting imo, and barely worth an RNS.

It remains, imo, all about VS.

VS is the blond, hot chick in the mini skirt. Wealth management in NZ, imo, is the spotty train spotter sitting in the corner reading a book.

[professor pettigrew] 07/8/2017 13:21

Yes, I'm fully aware of the meaning of the word "Nominal".

Read the very last sentence of the RNS.

The "consideration paid was nominal", ie a small amount.

Nothing to do with the value of a share, bond or stock, when it was issued.

Zaf is telling us that LEG have only paid a nominal value for our stake. It's anyone's guess as to what it is, but he's obviously done his homework.

This is very positive news indeed.

[gbenson1] 07/8/2017 13:00

Nominal Value - The value of a share, bond or stock when it was issued, rather than its current market value.

[professor pettigrew] 07/8/2017 12:46

Colnabean - I'm at a loss to try and understand your comments. "Nominal" in this instance means a nominal value (small) was paid for the 12% stake. It's all rather simple.

To use the word "Titanic" is rather churlish.

Also, if there is a placing to fund investments then surely isn't that what it's all about?

We haven't had the results yet, VS are a very ambitious establishment and we know there is lots of good and interesting news to come from them, so why the grim foreboding?

Positivity and patience is the name of the game here. Everything is coming together nicely.

Buy and hold.

[colnabean] 07/8/2017 12:06

This has all the hallmarks of the Titanic. It was legendary as well . The next thing we can expect is another placing to fund more companies of very little or no intrinsic value. More dilution, more directors fees. When are the shareholders going to see a return ?

[gbenson1] 07/8/2017 11:51

IBS was formed in the last month, it has 1,000,000 shares in issue, I guess nominal value is £5-10,000, but I agree the lack of detail/clarity in all of Leg RNS is astounding. Yearly results are due shortly but details of the small increase in VS and now this probably won't be contained in them.

[colnabean] 07/8/2017 11:40

What does nominal mean in this context. Does it apply to when the Company is formed and shares are issued at nominal value, and after it has obtained the necessary licence consents ?. This is one of the worse RNS I've ever seen.

[quinan] 07/8/2017 11:28

Had a little top up, I feel Zaf knows where VS is going and with the recent increases in LEGs holdings in VS I am sure we are all in for a BIG reward.

[professor pettigrew] 07/8/2017 10:53

Lol! Buy a few million here sid, that'll get things going!

[carefreesid] 07/8/2017 10:32

I might start doing the haka every morning to nudge things along.

[professor pettigrew] 07/8/2017 09:54

martle3 - many thanks for that, very interesting.

anton85 - it IS excellent news, there is no doubt. Zaf looks to have spotted a very lucrative opportunity here.

I haven't formally invited him yet, but he looks determined one way or the other to get the LEG share price up to the 1p party level eventually.

If IBS actually do the business Zaf expects, we then get 12% of commissions earned.

Could actually be the catalyst, along with the potential at VS that really kickstarts LEG into a much bigger company in the months and years ahead.