Information  X 
Enter a valid email address

Legendary Invest PLC (LEG)

  Print      Mail a friend

Wednesday 11 June, 2014

Legendary Invest PLC

Exercise of Equity Instruments in VSHL

RNS Number : 3590J
Legendary Investments PLC
11 June 2014
 



11 June 2014

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

Exercise of Equity Instruments in Virtual Stock Holdings Limited ("VSHL")

Following on from the announcement of 8 April 2014, in which Legendary announced that its investee company VSHL had raised £525,000 through an oversubscribed issuance of equity at a post money valuation of £25.4 million and that as part of the transaction Legendary had negotiated further equity instruments over VSHL shares bringing its aggregate holding, including equity and equity instruments in VSHL to 5.6% of the equity of VSHL, Legendary is pleased to announce that it has exercised all of the equity instruments taking its fully diluted equity holding in VSHL from 2.2% to 5.6%.

VSHL provides a multi-sector, cloud-based, SaaS business, enabling the flow of data between any network of systems and platforms, delivering scalable, rapid, controlled management of all critical business data - without any interference to pre-existing systems. 

Up until the recent fund raise, VSHL had been relying on internal resources for growth and the recent fund raise has provided VSHL resource to expand more rapidly. Legendary's exercise of its equity instruments has added to the resources available to VSHL providing it with even more flexibility in its expansion plans.

-     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

 

Saif Janjua

020 7382 8300

SI Capital                

 

Nick Emerson/ Andrew Thacker

01483 413500

 

Further disclosures required by Schedule 4 of AIM rule 12 are as set out below:

The aggregate exercise price of the equity instruments was £391,500 and this consideration was satisfied in cash. The aggregate value of the shares acquired as a result of the exercise, based on the post money valution of the recent fund raise, £902,732. As at the last reported balance sheet of Legendary, dated 30 Septemeber 2013, Legendary's equity and equity instrument holdings in VSHL were valued at £53,000. Subsequent to the fund raise and the equity instrument exercise, Legendary's equity holding in VSHL is valued at £1,488,964, an uplift of  £1,435,964. For the year ended 31 March 2013, VSHL had a loss of £47,000.

There are no other items which require disclosure under Schedule 4 of AIM rule 12.

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 and natural resources.

For more information, visit www.leginvest.com


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

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