Member Info for Soupdragon78

At the end of the day I've always said, I'm here for VS, I don't care about anything else. Hence I find a lot of the nitpicking tedious. Its all about not being an emotional investor. You may be lighter in the pocket but LEG has provided good opportunities to profit over the past year and a bit. Some of us used the opportunity to cover our costs and now hold for free.

"but you dont seem to actually have a view yourself. You think karim is doing a good job?" So you choose to ignore my previous posts where I say Zaf has made terrible investment choices and he is pretty useless as an investment manager, hence I think Reuner is the one responsible for buying into VS. I have my criticisms of Zaf, which I have aired, I just don't see the point in doing so 24/7, its not going to make things any better. You say you want balanced comments, but you attack any positive signs of business at VS with the same rhetoric about Zaf's pay, which incidentally you don't know what it actually is. At the end of the day, there is or was a big seller which has pushed down the sp, not Zaf's pay. I would argue he did well for the shareholders getting the sp up to 0.3p for a placing when the company was only worth 0.15p.

Kenner, you say you don't care who reads what you write, so why write anything at all? Classic denial theory, we know you bought in at a high, you fell for all the 1p talk like a right plum and now you're desperate to blame anybody but yourself. Again, I have no clue if Zaf reads here, but the odds are that he doesn't. Why would he? Why were you not posting your concerns when the sp was higher last year? You only arrived here in November.

PS. Kenner, why were you not posting your grievances when the sp was higher? I get the feeling you bought in at the high in early November last year, your greed getting the better of you and now you need to blame someone else for your lack of research and inability to See that LEG was overvalued.

How can you be sure he ever does? Do you really think the CEO of any company cares what a handful of anonymous bulletin board keyboard warriors say? Really? Again, why won't you answer, why don't you take it up with him in person at the agm?

Thanks for the advice HEBO, so again, remember the time when you said Nick Jenkins had never actually bought into VS and then you were proven wrong. Remember the time when you said VS would never sign any contracts? What happened after that? Why should anyone listen to you when you've consistently been proven wrong? Ok you don't like the chairman, we get that. But as I said to the kenner, why don't you have the guts to confront him in person rather than hiding on an anonymous bulletin board he never reads?

Criticism of a company board is fair enough, but to think that doing so constantly on an anonymous bulletin board will have any effect is deluded. I guess its the kind of therapy that works for you.

Kenner, I don't think you've even got Zaf on the hook by posting here. You're just tilting at windmills. If you really cared you'd do it face to face.

Hebo, remember last year when you were saying that Nick Jenkins had never invested in VS and that they would never sign any contracts? Enough said.

Kenner, how does posting here let Zaf know what 'we' think? I bet he doesn't visit BB's. Actually I hope he doesn't and has something better to do. Have you voiced your concerns in person at the AGM? Are you going this year?

Shameless for managing to keep the shareprice at least 25% overvalued for the best part of a year?

Kenner, you won't win many people over like that. Rather than insulting people, how about telling us what you would do if you were in Zaf's role? What is you're alternative that would see the sp higher? At the end of the day there is someone with a lot of shares who wants to sell and not enough people wanting to buy. Its quite simple really.

Zaf isn't part of the management team at VS. Thats partly why I don't think VS was his find, it seems more likely to be Reuner and his digital background who sourced it.

Seedcorn, may I asked what your reasons for making your original purchase were? And what has changed in the time since? For me, my original reasons were that VS is an expanding company and had signed up a number of larger retailers and Guys and Thomas as clients. Since that point in time they have signed up another tranche of retail, John Lewis included and furthered their NHS development with the Shelford Group. What hasn't changed much is the LEG shareprice, but this is mainly because VS have yet to prove they can deliver. Its one thing signing a contract, now they need to monetise it. I will make judgement once more figures are known from the VS results in December / January.

Superlucky, LEG has always been about VS for the past few years, Zaf is pretty useless at finding investments. Personally I think the VS was the choice of Thomas Reuner as he is the one with an IT background, Zaf tends to go for resource stocks. I have always seen the other co's as zero value to LEG and I don't care about them. I'm only here for VS and LEG is the only means I have got of holding any.

Fair value for LEG is around 0.16p and has been for the past year or so, in the meantime the shareprice has spent at least 9 months out of the last 12 above this level, with at least 3 months out of the last 12 above 0.2p. Pretty good share performance for holders as its been overvalued more often than not. Its the greed of shareholders more than anything that is tainting the picture, people are too giddy about 'unicorns' and 1p valuations when the reality has always been different.

Sam, they will have to announce the total number of shares and list each shareholder. These are usually listed in the Annual Return which VS put on Companies House each April. Because there has been a change since April, they will issue a Second Filing. As you'll see on Companies House they issued one last October. This is the document that will answer your queries. Unfortunately we don't know when that will appear, but this is part and parcel of being invested (indirectly) in a private company. SL79 is alright, he seems to have gotten over his trauma of his greed getting the better of him and missing out on a bigger profit than he wanted.

Sam the man, in response to your posting on the other forum. The key item you need to look at is Resolution 1 item (ii) Item (ii) is the directors transferring 260,000 VS shares to Notion. So, we know they bought 190,000 new shares for £10 each, the above shows they bought 260,000 from the directors for £10 each taking the cost to £4.5m which matches the reported investment. Essentially, its £1.9m going into the business and £2.6m going to 2 directors.

the fact that IBS was set up with one single shareholder 'Pathfinder Trustees' which was only set up 3 months ago. The sole shareholder in Pathfinder is a Kenina Maree Court who is also involved with directorships in 45 other companies. She's been appointed to 7 this year already (even being appointed to 3 in one day!) http://www.nzcompanygo.com/director/Kenina+Maree+COURT/

" It is all very well gaining 12% of something ..... but at what price?" Seedcorn, read the RNS, LEG have negotiated shares in IBS as payment for advisory services. They have received the shares as payment at nominal value. Each share has a nominal / face value, LEG shares are all of 0.1p nominal value. They RNS tells you everything you need to know, they didn't pay for the shares and they got them at the nominal value.