focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Into LEG. 10 October 2012 Legendary Investments Plc ("Legendary" or the "Company") Admission to AIM of Sula Iron and Gold Plc Legendary is pleased to announce that Sula Iron & Gold plc ("Sula") was yesterday (9 October 2012) admitted to trading on AIM (AIM:SULA). Sula is an iron and gold focused mineral exploration and development company operating in Sierra Leone. Further information on Sula and its project can be viewed at www.sulairongold.com. Yesterday Sula shares closed at 6.88 pence per share. In July of this year, Legendary invested £50,000 into Sula for which it received a convertible loan note. Upon admission to trading on AIM that loan note converted to 1,250,000 Sula shares. Yesterday, Sula's closing price implied a return of 72% in 3 months on this investment. Legendary also received warrants to subscribe for an additional 625,000 shares in Sula, at nil cost, with an exercise price of 4 pence per share. At yesterday's closing price of 6.88 pence per share, this would also give a return of 72% over exercise price on these warrants. In addition, Legendary has a further 833,333 shares in Sula which were subscribed for at 6 pence per share and warrants to subscribe for an additional 416,666 Sula shares at 8 pence per share. Yesterday's closing price of 6.88 pence per Sula share implies a return of 15% on these shares. This investment underlines Legendary's ability to source and secure investments with exciting prospects and a catalyst for value increase.
I'm higher than that, but under 0.60. Still good.
I've been in ORE for about a month now.
Exquisitley put, sir.
KYJelly, Arse Bandits Anonymous and Ballbags Are Us.
I've heard you've already lost that same bet on four other shares. So you must have one sore arse and be covered in tattoos, oh, you saucy mare.
Have you been round jimmy savilles house?
We could do with an angel here. I've spoken to the Israeli government and my offer of two jersey cows and a 10kg bag of jersey royal potatoes is not enough to hire a couple of Mossad agent to do our dirty work. Will have to think again.
Who says violent films cause adverse reactions in people?
I vote we have a whip round and sent the proceeds to israel so we can hire a couple of mosad agents to take the mothers out.
To be honest, i'd settle for just my money back.
Chan, i want my money back with interest or i'll send the boys round to fook you up.
Why the sad faces here. All is not lost. Many companies on AIM get suspended and come back. This could just be a ploy. If they get some investments going the suspension gets lifted, and we are back in the game. No pun intended with the game remark, they really were pants.
Although the Company has been in advanced discussions with a number of parties, it has not been able to agree the terms for a reverse takeover transaction due to the uncertainty associated with outstanding VAT claim. Accordingly, the Board will try to make other investments to try to implement Tricor's investing policy in the short term. In the meantime, trading in the Company's shares on AIM will be suspended on 28 September 2012. Doesn't sound like a dead duck to me. Companies have been looking at TRIC but a deal in time to keep suspension at bay couldn't be thrashed out. As the above says, VAT frightened prospective investors away. With VAT case sorted, preferably in TRIC's favour, deals could still be done and suspension lifted. If there was no chance why didn't all the directors sell the hundreds of millions of shares they still hold before suspension kicked in?
Not sure why pi's here are getting so up tight. It's not over yet, although it may feel like it. AIM shares get suspended all the time for not investing within a designated time scale. TRIC have fallen foul of this rule and have been given a yellow card. They now have until March 2013 to invest in something and the suspension will be lifted. Fail to do that and it's the delisting from AIM red card. TRIC have had a lot on its mind and the VAT case has taken up most of their time and a lot of resources. Who knows what will happen. If they win the VAT case and then invest, happy days. Even if they lose the VAT case, all is not lost until March 2013. They could still invest in something or someone could invest in them. There are plenty of permutations still to play out here.
True enough. There must be some crazy dude's out there as over 100 million has been bought in the past half hour. Maybe it's the MM's trying to intice pi's in to lose their money.
If tric is in suspenders how can trading still be going on? Is it possible late notification on earlier trades?
Well, what's gone on here? Investors screwed again. Not sure why pi's are liking this to AAT, as AAT was worth a punt when it bottomed at 0.003as it shot off to 0.016 then back down again. I'm sure all those who got in there at the bottom would say it was very much worth a punt.
Is this baby going to move further north this week?
Charming. Have a look at leg, no negativity there.