23 Oct 2013 15:00
23 October 2013
Legendary Investments Plc
("Legendary")
Investee Company Update - Amedeo Resources Plc (formerly Creon Resources Plc) announces interim results
Legendary, the proactive investment company, is pleased to report that its investee company, Amedeo Resources Plc (AIM: AMED) ("Amedeo") (formerly Creon Resources Plc) today announced its interim results for the six months ended 31 July 2013.
The highlights for the period were as below:
· Net profit of £245,000, (net loss of £317,000 for the six months ended 31 July 2012).
· First rig order, Le Tourneau Super 116E Class rig, specification and price increased.
· Acquired 49% of MGR Resources PTE Ltd for US$49,900, and received first dividend of US$210,000 (£138,000).
And post period, progress continued:
· Jiangsu Yangzijiang Offshore Engineering Co Ltd "strikes steel" on Le Tourneau Super 116E Class rig.
· Board strengthened, including with the addition of Zafar Karim as an executive director.
Zafar Karim, Executive Chairman of Legendary, commented:
"We are pleased with the rapid progress being made at Amedeo. Significantly, Amedeo has already started to receive returns on its investments and posted an interim profit. We look forward to continuing momentum and further developments."
Further details are available at:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11750824
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 |
SI Capital
| Nick Emerson/ Andrew Thacker
| 01483 413500 |
Newgate Threadneedle | Caroline Evans-Jones | 020 7653 9850
|
About Legendary Investments Plc
Legendary 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, natural resources and mining. Legendary is incorporated in the UK, which is its principal country of operation.