Legendary Inv. Share Discussion Threads

[gbenson1] 08/8/2017 17:07

IBS have 1m shares in issue, we just got 120,000 for next to nothing, not sure how much cash they have for start up costs, but then again after that they'll use other people's!

[professor pettigrew] 08/8/2017 16:59

Yup, I can't stand it when my glass is empty gb!

Seriously, you are right about the slow burner, that's what I like though. I liked the bit I the RNS that said if they get their licence and get going then growth etc would be rapid.

Let's all give it exactly 12 months. I think within that time we'll see the 1p.

[gbenson1] 08/8/2017 16:52

carefreesid I tend to agree, IBS are a starter company in a big market, they've got lots of competition, I know your a full glass type of guy Professor, time will tell but it's a slow burner imho.

[professor pettigrew] 08/8/2017 16:52

Agreed sid on the VS. That is our jewel, and obviously is growing rapidly and will be well the first piece of the jigsaw to show big profits for us.

But, I have a strong hunch that IBS will be the icing on the cake.

Let's see how it pans out over 12 months. I reckon we could see the oft-mooted 1p here by this time next year.

[carefreesid] 08/8/2017 16:46

Wealth management, banking etc is highly competitive. I am not sure what edge they would offer. Investment banking is now down to a couple of dozen large banks. I really dont see what niche they are hoping to fill.

The bottom line is that is doesnt really matter, as they only put in a nominal sum.

As far as I'm concerned, its still all about VS.

[professor pettigrew] 08/8/2017 16:43

sid - if IBS get it done properly, the growth in income can be rapid. Commissions on funds under management, advisory fees, stakes in other companies etc., and the synergies between them and LEG as stated in the RNS.

What excites me is that we start off with a very nice 12%. If say after two years they are making profits of £1m p.a that's £120,000 for LEG straight off. That's a lot more than we originally put into VS, so you can see the potential here.

[gbenson1] 08/8/2017 16:42

Well surprised the Warrant consortium didn't drop a few, maybe they've sold as many as they planned and will hold remainder + 80k to be released for a nicer profit?

[professor pettigrew] 08/8/2017 16:32

Yes, seriously sid.

If you can just stop thinking of NZ for a moment, and imagine when they start expansion.

Granted it will take quite a while, in the meantime of course we are all hoping that VS will do the biz. I'm thinking in terms of 3-5 years minimum, whereas by this time next year, I'm expecting big things from VS.

Small acorns and all that.

[carefreesid] 08/8/2017 16:18

Seriously PP?

IBS as big as VS? Really?

One is a potential game changing technology, one is a wealth manager on a small island.

Dont want to rain on your parade, but that will only happen if VS doesnt succeed imo.

[professor pettigrew] 08/8/2017 14:56

Good god! A tick up! Thought I needed to go to specsavers!

[professor pettigrew] 08/8/2017 13:40

I wouldn't be surprised if we finish blue today.

[professor pettigrew] 08/8/2017 13:37

Hi KK - I'm with them too. Excellent firm.

Get the feeling things are on the turn here now?

I'm still very excited over yesterday's RNS. IBS could turn out to be a winner as big as VS will be.

The weeks and months ahead here will be very rewarding in my view.

[kemorkid] 08/8/2017 13:35

That last deal was exactly 1000 with HL
Nice wee top up for KK

[professor pettigrew] 08/8/2017 13:10

Just topped up with 323,246.

[professor pettigrew] 08/8/2017 12:07

A few decent buys coming through now, maybe we are finally at the bottom.

[professor pettigrew] 08/8/2017 09:28

That's exactly what I thought gb, unless he had another home for the funds, or needed to liquidate his holding for personal reasons.

Yes, he did come here with lots of vital and useful information which was much appreciated by everybody here.

I even sent him a PM enquiring whether his health was okay, but was just roundly ignored at every stage.

Most strange.

At least a bit of nibbling here this morning, but markets are very quiet anyway, being in the middle of the summer(?) holidays here.

[gbenson1] 08/8/2017 09:03

Thought it was strange, RTW1 brought so much seemingly detailed knowledge of VS contract wins, think by his absence he must of sold up for whatever reason, really strange given the potential of VS and he knew it?

[mickluv1] 08/8/2017 08:37

What's this about RTW I thought he held 50M+ here and the thread run by Pet Lover is very similar in tone? Have I missed something

[cpap man] 08/8/2017 08:23

Thanks P P and good moaning RTW [sorry forgot that benefits day is now on a Thursday!]

[professor pettigrew] 08/8/2017 08:18

There you go cpap man. He probably can't pull one off anymore, his wrist will be too sore red ticking everyone.

Must be the saddest prat on the boards.

Onwards and upwards..................................

[cpap man] 08/8/2017 08:05

No probs P P - now please give me a tick up before RTW turns up from the benefits office!

[professor pettigrew] 08/8/2017 07:56

Superb stuff - many thanks cpap man.

Perhaps even those with very little intelligence on the losers thread will carry on accumulating here.

0.7p for 0.12p anyone?

[cpap man] 08/8/2017 07:45

Legendary Investments (LEG.L, 0.12p) – Speculative Buy

The proactive investment company that focuses on making investments in and assisting companies which exhibit the potential to generate returns of many multiples through capital appreciation, yesterday announced that it has negotiated a 12% stake in IBS. This New Zealand-based entity has been established for the purposes of providing financial services, initially in its home territory before going on to expand into Asia Pacific, South East Asia and the Middle East. IBS intends to establish a banking services platform with the ability to provide a range of financial services including investment banking, asset management, debt funding and insurance services aimed at corporate and high net worth clients. IBS has commenced the process of obtaining the necessary authorities from the New Zealand regulators to be able to conduct these services. These authorities are expected to be obtained in the next few months, although there can be no assurance that they will be obtained. In the meantime, IBS is establishing an experienced core team to spearhead the business and secure wholesale funding lines.

Our View: This cooperation is intended to give Legendary an additional source of funds for current and future projects. It will also give IBS access to new investment opportunities via Legendary's channels thereby providing further potential for value generation. Legendary's Board has been working with the principals for several months ahead of agreeing to participate in the establishment of IBS. As part of this process Legendary has negotiated a 12% founding stake in IBS for nominal value. Once authorities to operate and funding lines are obtained, IBS expects to grow its business and accrete value. Importantly, the activities of IBS are complementary to those of Legendary and should therefore provide further monetisation opportunities for both vehicles. Despite a wealth of opportunity, the availability of investment banking, asset management and debt based and insurance services to New Zealand SMEs is less well developed than in other international markets. IBS initially intends to target in this particular area, providing debt funding and taking equity stakes in New Zealand SMEs with strong management and business models with the potential for internationalisation. Target sectors include fintech, property and agriculture and fisheries. These services will be extended into other markets over time. As a 'challenger' financial services platform, initially focussing on an underserviced sector in New Zealand and with ambitions to expand further into the most dynamic regions in the world, while offering the ability to provide funding across a range of activities, IBS may find itself in the right place at the right time. This also demonstrates Legendary's willingness to pro-actively seek out and nurture asymmetric opportunity. Prudently, Beaufort will not attribute specific value to IBS until its structure is more developed and target opportunities identified but, in the meantime, yesterday's news provides another chance to highlight the fact that Legendary continues to trade at a deep discount to its perceived sum-of-parts. Simply valuing its 7.2% Virtual Stock participation on the basis of Notion's recent funding injection, provides a 15% or so premium to LEG's current market capitalisation. In expectation of Legendary's participation in VS becoming more realistically valued within LEG's wider portfolio, Beaufort retains its Speculative Buy recommendation on the shares along with its 0.7p price target.

Beaufort Securities acts as corporate broker to Legendary Investments plc