Hi Seedcorn, unfortunately we don't get much by way of updates except at full year results time. I guess to some extent it depends on the importance of the news and also the value of the investment - AMED has very little vslue for LEG. One I would like more of a regular update on is Bosques. LEG's approach is to only communicate "when something is worthy of communicating".
You don't get Rns about this share. The ceo has no interest in keeping us the shareholders informed. He has got a intrest in his pay packet which is 160,000+ ayear and expenses of 40,000. So our only hope is vs to go on the market and hope you get the price you are looking for.
This is my first posting on the Legendary Investment (LEG) board. I have a holding and therefore an interest in what happens with this share, not least of course in relation to VS.
I believe that LEG still has a holding (5%) in Amedeo Resources Plc. (AMED). I am not sure if this is just in relation to the ship yard (rig construction) activity or all of AMED investments. I wondered if anyone can clarify this.
AMED is listed on AIM and as such produces RNS updates e.g. as shown on their site on 11th and 19th January 2017. One RNS relates to a loan and another to an investment in a copper resource. If LEG investment is in all AMED activities then I would have thought those RNS updates would be of relevance to LEG share holders but there has been no update to us. Comments anyone? Regards, Seedcorn
Ok, it's good that there are diverse views on this subject. IPOs are very expensive, as is maintaining a full listing. I do think it'll happen at some point but for several years I'm expecting enough free cash flow to support continuing growth - including US expansion - unless there is some other plan like, for example, targeting the EU.
An VS IPO doesn't necessarily mean that the management would be selling out, it'd really just mean that they have shares which they can readily sell into an open market. A holding would be sacrificed buy issuing shares for the open market but they'd more than likely still be making a phenomenal return at IPO against the amount that they've put in
Yes I can see it happening. There will be a need for capital to finance further expansion. Not sure there will be positive cash flow this year? Revenue growth yes but fcf? I see Rob Knott when asked about floating said not 'yet'. Note the word 'yet'.
They have huge ambitions for global growth and a particular eye on the US market. This will require funding beyond anything they can produce in the short term. It would also raise the company profile dramatically and I think they would like to see that happen. As I say this is a company with huge ambitions and small companies with huge ambitions need capital.
An IPO would be interesting Dibs but can you see it happening within the next few years? I can't see why - there'll be positive cash flow from this year to fund a certain amount of expansion, and why would the current owners sell out when VS is only near the start of its journey?
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