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Legendary Invest PLC (LEG)

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Thursday 05 May, 2016

Legendary Invest PLC

Successful Placing Raising £1 million

RNS Number : 3813X
Legendary Investments PLC
05 May 2016
 

5 May 2016

Legendary Investments PLC

("Legendary" or the "Company")

 

Successful Placing Raising £1 million

Legendary Investments PLC (AIM: LEG) is pleased to announce that it has raised GBP 1 million (before expenses), by way of an oversubscribed placing of 333,333,333 ordinary shares of 0.10 pence nominal value each ("Ordinary Shares") at a price of 0.3 pence per new Ordinary Share. The shares were placed with a range of institutional and private investors.

Legendary will use the funds to take advantage of new suitable investment opportunities as and when they arise. Having already made investments, some of which have generated returns of several times the initial outlay, Legendary is currently evaluating several opportunities, including in the technology sector.

Funds will also be used to fund the continued development of existing investments as appropriate and increase stakes in existing investments as opportunities to do so arise and where appropriate. Funds will also be utilised for working capital (including the paying down of debt, as appropriate).

Application will be made for the 333,333,333 new Ordinary Shares to be admitted to AIM, with admission expected to occur on or around 12 May 2016. Following admission of the new Ordinary Shares, the Company's enlarged issued share capital will comprise 2,794,864,166 Ordinary Shares with one voting right per share. There are no shares held in treasury and the total number of voting rights in the Company is therefore 2,794,864,166. This figure of 2,794,864,166 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

- Ends -

 

For further information, please contact:

 

Legendary Investments Plc

Zafar Karim / Thomas Reuner

 

020 8201 3536

Grant Thornton UK LLP

 

Colin Aaronson / Harrison Clarke

 

020 7383 5100

Beaufort Securities Limited

Elliot Hance

020 7382 8300

 

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.


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