Legendary Inv. Share Discussion Threads

[chinese investor] 09/7/2018 09:38

These latest transactions are actually BUYS !

[hootza616] 09/7/2018 09:36

What a fantastic update!

[professor knobhead] 09/7/2018 09:19

LOL!

Yes, they all seem highly qualified to get a professorship.

[mudbath] 09/7/2018 08:43

"Investment in IBS Corporation Limited ("IBS") at nominal value. Post Legendary's investment, initial seed investors converted IBS debt to IBS equity and further investors took up IBS equity at a valuation of NZ$14.4m (GBP7.4m). Legendary holds its stake in IBS at this transaction value. Post Legendary's March 2018 year end, in April 2018, IBS was granted authorities to operate its banking services platform by the New Zealand regulatory authorities."

How will this T/U valuation for IBS pass the Auditor's scrutiny ?

[professor pettigrew] 09/7/2018 08:42

Yes, indeed paul. There aren't many IT's that value that way.

I believe there is a very pleasant surprise in the pipeline.

[maxk] 09/7/2018 08:34

It's the way they tell em..

[soupdragon55] 09/7/2018 08:32

Still laughable that a company with no income claims a profit.

[soupdragon55] 09/7/2018 08:31

Mostly sells as the trading update points out the fact that only VS has made any progress with revenues at circa £6m IBS still has no clients, CfA doesn't make any money and COTL will need to raise large amounts diluting LEG out of the picture. Still a one trick pony.

[paulthomas103] 09/7/2018 08:22

Hi Prof, nice to see such a positive update. I wonder what a true forward or even real time valuation would look like? VS since the last valuation have added John Lewis, Carphone, Gone live with a number of NHS trusts and weve added IBS and CFA. Remember the turnover for VS is based on 2016 - 2017.

[professor pettigrew] 09/7/2018 08:09

One cannot believe that after a trading update that has pointed to a BACKWARD valuation here of at least 0.2p per share, without taking into account further progress since that valuation was calculated, that some individuals are quite happy to let the spiv mm's have their stock for the princely sum of 0.11p.

[professor pettigrew] 09/7/2018 08:05

Morning paul - undervalued is now almost an understatement.

Decent start this morning.

[chinese investor] 09/7/2018 08:05

How Exciting !

[professor pettigrew] 09/7/2018 07:58

Maybe we could see a broker note out later today as well.

GL to all genuine holders.

[paulthomas103] 09/7/2018 07:56

Good Morning all, excellent RNS. Leg are so undervalued and now have quite a broad portfolio when you look at it.

[professor knobhead] 09/7/2018 07:55

Prediction:

potplant talks about the 1p party quite soon.
By midday, stock back down again as everyone realises nothing has changed.

[cpap man] 09/7/2018 07:55

9 July 2018

Legendary Investments PLC ("Legendary" or the "Company")

Trading Update

Legendary is pleased to provide its trading update ahead of its full year figures for the year ended 31 March 2018. Figures below are estimated and are unaudited:

· Investments up to £6.2m (2017: £4.3m), a rise of 46.5%



· Net assets up to £6.0m (2017: £4.7m), a rise of 27.7%



· Net profit at £665k (2017: loss of £281k)



Highlights:

· Virtualstock Holdings Limited ("VS") attracted an investment of £4.5m from Notion Capital, a leading European B2B SaaS Venture Capital firm, at a valuation of £66m. Legendary holds its stake in VS at this historic transaction value. Since then, VS has made significant progress: entering into a strategic partnership with Wincanton plc and nearly doubling revenues for the year to March 2018 from £3.2m for the year to March 2017.



· Investment in IBS Corporation Limited ("IBS") at nominal value. Post Legendary's investment, initial seed investors converted IBS debt to IBS equity and further investors took up IBS equity at a valuation of NZ$14.4m (£7.4m). Legendary holds its stake in IBS at this transaction value. Post Legendary's March 2018 year end, in April 2018, IBS was granted authorities to operate its banking services platform by the New Zealand regulatory authorities.



· Legendary acquired 9.7% of Crowd for Angels (UK) Limited ("CfA") at a post money valuation for CfA of £3.7m. Legendary holds its stake in CfA at this historic transaction value. Since then, CfA has launched its innovative Liquid Crypto Bond issue and Initial Coin Offering. Significantly, CfA rose from fifth (at the time of Legendary's investment in late December 2017) to third place in the most visited UK crowdfunding platforms (according to Alexa.com) after seeing website visitor figures grow by 290% between March and the end of May 2018 and its investor data base grow by a larger percentage.



· Legendary converted its stake in its Kyrgyz gold asset to shares in Circle Oil Tunisia Limited ("COTL") in late December 2017, following which, COTL was acquired by Dunraven Resources Limited ("Dunraven") resulting in Legendary having a 2.0% stake in Dunraven. Dunraven is initially focussing on North Africa and the Middle East. Alex MacDonald has been appointed its Chief Executive Officer. COTL holds and is the operator of the El Mediouni East and Central oil asset ("ELM") in the Mahdia Permit. ELM's previous owner, Circle Oil Plc, invested heavily in ELM, and in August 2014 announced a potential large discovery in which internal results estimated potentially recoverable prospective resources of approximately 100m barrels of oil. Dunraven has developed an 18 month work programme for ELM, including a drilling programme and is also in negotiations with a major services company to be their technical partner. Additionally, COTL intends to acquire a significant amount of new seismic over the licence area, and Dunraven is actively pursuing a pre-qualified portfolio of acquisition opportunities in the region. Legendary holds its stake in Dunraven at £175k.

Legendary expects to publish its audited full year results in early August.

Zafar Karim, Executive Chairman of Legendary Investments PLC, commented:

"We are delighted at the progress made this year. Legendary's investments and net assets have increased significantly and net profit is £665k, and all of this has been achieved on the basis of a very conservative historic transaction based valuation policy.

"This policy does not take any account of investee companies' progress, nor of their further prospects since the latest transaction, notably: VS's further contract wins; IBS winning authorities to operate its banking services platform; CfA's rise from number five to number three in the most visited UK crowdfunding platform rankings as well as the substantial growth in its website visitor figures and investor data base; and Dunraven's significant strategic progress.

"Progress continues at Legendary and its investee companies. Indeed, we expect post year end net assets to be higher than the year end value. Having established a solid track record of successful proactive investing, we now intend to take Legendary to the next level of its development. We look to the future with increased confidence and thank our shareholders for their continued support."

[livup967] 09/7/2018 07:54

well done ZAF you gave the market a little bit more than expected
pre market looking good….

let's see how it pans out through the days and weeks ahead….
will we be rerated on them numbers ??….
i believe we should…

what a welcome surprise today….


REGARDS

[professor knobhead] 09/7/2018 07:49

Professor Pettigrew
9 Jul '18 - 07:46 - 14448 of 14448
0   0  0



And a very good morning to you KK - hope the weather is holding up in the Emerald Isle.

There is certainly very little green under our over here now, I'm thinking of going back into business and offering to paint everybody's lawn!

You're not qualified.

[professor pettigrew] 09/7/2018 07:46

And a very good morning to you KK - hope the weather is holding up in the Emerald Isle.

There is certainly very little green under our over here now, I'm thinking of going back into business and offering to paint everybody's lawn!

[michaelsadvfn] 09/7/2018 07:45

Professor Pettigrew 9 Jul '18 - 07:16 - 14443 of 14446 0 3 2

As I've constantly been saying - LEG is one of if not THE most undervalued stock on the market.


Kemorkid9 Jul '18 - 07:27 - 14444 of 14446 0 0 1

You are so so right Prof.

It only takes one thick Irishman to make david’s day.

Well done KK.

[professor pettigrew] 09/7/2018 07:45

Yes, very interesting, especially as Zaf has stated that the figures DON'T take into account progress made since the last valuations.

So, it's now estimated our NAV is a tad over £6m, therefore the share price should be closer to 0.2p, but again that is using the valuations from the previous period.

It will only take VS to announce one major contract or IBS to start getting the deals flowing for a massive re-rating here.