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Legendary Invest PLC (LEG)

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Wednesday 23 October, 2013

Legendary Invest PLC

Investee company update

RNS Number : 2366R
Legendary Investments PLC
23 October 2013

23 October 2013

Legendary Investments Plc



Investee Company Update - Amedeo Resources Plc (formerly Creon Resources Plc) announces interim results


Legendary, the proactive investment company, is pleased to report that its investee company, Amedeo Resources Plc (AIM: AMED) ("Amedeo") (formerly Creon Resources Plc) today announced its interim results for the six months ended 31 July 2013.


The highlights for the period were as below:


·    Net profit of £245,000, (net loss of £317,000 for the six months ended 31 July 2012).

·    First rig order, Le Tourneau Super 116E Class rig, specification and price increased.

·    Acquired 49% of MGR Resources PTE Ltd for US$49,900, and received first dividend of US$210,000 (£138,000).

And post period, progress continued:


·    Jiangsu Yangzijiang Offshore Engineering Co Ltd "strikes steel" on Le Tourneau Super 116E Class rig.

·    Board strengthened, including with the addition of Zafar Karim as an executive director.

Zafar Karim, Executive Chairman of Legendary, commented:


"We are pleased with the rapid progress being made at Amedeo. Significantly, Amedeo has already started to receive returns on its investments and posted an interim profit. We look forward to continuing momentum and further developments."


Further details are available at:

 For further information, please contact:

Legendary Investments Plc

Zafar Karim / Thomas Reuner


020 8201 3536

Grant Thornton UK LLP


Colin Aaronson/ Melanie Frean / Jen Clarke


020 7383 5100

SI Capital                


Nick Emerson/ Andrew Thacker


01483 413500

Newgate Threadneedle

Caroline Evans-Jones

020 7653 9850



About Legendary Investments Plc


Legendary is a 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.  Typically, Legendary invests 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, natural resources and mining. Legendary is incorporated in the UK, which is its principal country of operation.

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

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