Legendary Investments PLC Trading Update (9358T)
2018年7月9日 - 3:00PM
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RNS Number : 9358T
Legendary Investments PLC
09 July 2018
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 GBP6.2m (2017: GBP4.3m), a rise of 46.5%
-- Net assets up to GBP6.0m (2017: GBP4.7m), a rise of 27.7%
-- Net profit at GBP665k (2017: loss of GBP281k)
Highlights:
-- Virtualstock Holdings Limited ("VS") attracted an investment
of GBP4.5m from Notion Capital, a leading European B2B SaaS Venture
Capital firm, at a valuation of GBP66m. 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 GBP3.2m 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 (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.
-- Legendary acquired 9.7% of Crowd for Angels (UK) Limited
("CfA") at a post money valuation for CfA of GBP3.7m. 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 GBP175k.
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 GBP665k, 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."
- ENDS -
020 8201
Legendary Investments PLC Zafar Karim / Thomas Reuner 3536
Nominated Adviser
Grant Thornton UK LLP Colin Aaronson / Harrison 020 7383
Broker Clarke 5100
S.P. Angel Corporate Finance Richard Parlons / Richard 020 3470
LLP Morrison 0470
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
About Legendary Investments PLC
Legendary Investments PLC focuses on assisting companies and
making investments which exhibit the potential to generate returns
of many multiples through capital appreciation. Typically,
Legendary takes stakes in small companies where there are clear
catalysts for value appreciation and the companies are operating in
sectors exhibiting long term growth. Examples of such sectors
include technology, energy and natural resources.
www.leginvest.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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