Information  X 
Enter a valid email address

Legendary Invest PLC (LEG)

  Print      Mail a friend

Thursday 28 November, 2013

Legendary Invest PLC

Update on investee company Virtualstock

RNS Number : 1147U
Legendary Investments PLC
28 November 2013
 



28 November 2013

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

Investee Company Update
Virtualstock Limited Implements Tesco Plc Contract

Legendary Investments Plc, the proactive investment company, is delighted to announce that its investee company, Virtualstock Limited ("Virtualstock"), the leading provider of cloud-based e-commerce solutions, has accomplished the key milestone of the successful implementation and activation of its system, The Edge™, within Tesco Plc ("Tesco"), the leading UK retailer, pursuant to the contract signed and announced on 6 June 2013.

The Edge™ delivers a revolutionary, end-to-end, cloud-based, managed software solution, which seamlessly connects with Tesco's set of systems and suppliers, delivering a far greater range of products to be offered on-line. The Edge™ enables Tesco to add rapidly suppliers and enrol products onto their systems with ease. All orders from Tesco's range of suppliers can now be viewed and managed centrally, on the same intuitive web based interface.

Founded in 2004, Virtualstock has spent the last ten years refining a completely new approach to connecting systems, platforms and suppliers replacing the need for traditional systems integration, while maintaining total data integrity. Legendary controls a small minority stake in Virtualstock.

Zafar Karim, Executive Chairman of Legendary, said:

"Partnering with Tesco is an outstanding reference point for the corporate development of Virtualstock. Supporting a leading retailer in the rollout of the essential online channel, underlines the robustness and scalability of Virtualstock's solution. Together with the international expansion, this contract further validates Virtualstock's offering and strategy. We are excited to continue supporting Virtualstock in its accelerating development.

-      Ends-

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

Beaufort Securities Limited

 

Guy Wheatley

020 7382 8300

SI Capital                

 

Nick Emerson/ Andrew Thacker

 

01483 413500

Newgate Threadneedle

Caroline Evans-Jones

020 7653 9850

 

About Legendary Investments Plc

Legendary Investments Plc 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.

 


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

a d v e r t i s e m e n t