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Legendary Invest PLC (LEG)

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Thursday 06 June, 2013

Legendary Invest PLC

VirtualStock Limited Wins Landmark Contract

RNS Number : 4496G
Legendary Investments PLC
06 June 2013
 



6 June 2013

Legendary Investments Plc

("Legendary" or the "Company")

 

Investee Company Update
VirtualStock Limited Wins Landmark Contract

Legendary is delighted to announce that its investee company, VirtualStock Limited  has signed a landmark three-year renewable contract with one of Britain's largest retailers.

The contract is to supply software as a service ("SaaS") which will enable the retailer to increase significantly its online presence by expanding its non-stocked product range supplied by hundreds of its drop-ship suppliers.

The VirtualStock solution will form a key component of the retailer's online technology infrastructure, providing its suppliers with a tool which enables them to manage fully the selling of their products through its corporate website.

The initial roll out of the service is scheduled in July and the agreement includes a number of phased extension options.

Zafar Karim, Executive Chairman of Legendary, said

"We are delighted for VirtualStock. Increasing online presence is currently the greatest single challenge facing the retail sector. VirtualStock has a world class, enterprise solution that we believe is unique in its ability to interface to any organisation's existing IT infrastructure. This contract win underlines the adaptability, robustness and scalability of the VirtualStock solution. We believe that this could mark the start of a very exciting period for VirtualStock."

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For further information:

 

 



Legendary Investments Plc

Zafar Karim / Thomas Reuner

 

020 8201 3536

Grant Thornton Corporate Finance

 

Colin Aaronson/ Melanie Frean / Jen Clarke

 

020 7383 5100

Simple Investments                

 

Nick Emerson/ Andrew Thacker

01483 413500

Newgate Threadneedle

Josh Royston /Caroline Evans-Jones

020 7653 9850

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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