8PG.L Regulatory News (8PG)

19 May 2014

Legendary Investments PLC

("Legendary" or the "Company")

Successful Placing

Legendary Investments PLC (AIM: LEG) is pleased to announce that it has raised GBP900,000 (before expenses), by way of a placing of 818,181,817 ordinary shares of 0.10 pence nominal value each ("Ordinary Shares") at a price of 0.11 pence per new Ordinary Share. The shares were placed with a range of institutional and private investors.

Following on from the successful and oversubscribed placing of shares in Virtual Stock Holdings Limited ("VSHL") at a valuation of over £25m, more than 10 times the valuation at which Legendary originally invested in VSHL, Legendary will apply the funds to exercise options over shares in VSHL thereby raising Legendary's stake from 2.2% to 5.6% of the share capital of VSHL.

In addition Legendary will use the funds to take advantage of new suitable investment opportunities as and when they arise and for working capital. With a background of successful investments in companies which have now listed and/or generated multiple returns for Legendary, the Company is currently evaluating an increasing number of opportunities, including those in the technology sector.

Zafar Karim, who is a director of the Company, has subscribed for 22,727,273 new Ordinary Shares for GBP25,000 at the placing price. By virtue of Mr. Karim being a director of the Company, Mr. Karim's subscription constitutes a related party transaction under Rule 13 of the AIM Rules for Companies. The independent director considers, having consulted with the Company's nominated adviser, that the terms of Mr Karim's subscription are fair and reasonable insofar as the Company's shareholders are concerned. Mr. Karim's resultant interest in the Company will be 55,727,273 Ordinary Shares, representing 2.3 per cent. of the Company's share capital as enlarged by the placing. Mr Karim also holds 241,000,000 options with an exercise price of 0.2 pence per Ordinary Share

Application will be made for the 818,181,817 new Ordinary Shares to be admitted to AIM, with admission expected to occur on or around 23 May 2014. Following admission of the new Ordinary Shares, the Company's enlarged issued share capital will comprise 2,461,530,833 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 2,461,530,833. This figure of 2,461,530,833 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.

Zafar Karim, Executive Chairman of Legendary said:

"Legendary's strategy of sourcing investments which offer the potential for asymmetric returns and proactively assisting investments to achieve such returns is bearing fruit. Virtual Stock is a prominent example of this. It is encouraging that, through the placing and subscription, investors have demonstrated they share our confidence. Increasing our stake in Virtual Stock is in line with Legendary's continued focus on technology companies that leverage innovation to fundamentally change business models."

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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.

For more information, visit www.leginvest.com