TIDMLEG

RNS Number : 6136T

Legendary Investments PLC

13 October 2017

13 October 2017

Legendary Investments PLC

("Legendary" or the "Company")

Stake in IBS Corporation Limited ("IBS")

Further to its announcement of 7 July 2017 in which Legendary announced that it had taken a 12% stake in IBS for nominal consideration, the Company is pleased to announce that Zafarullah Karim, Executive Chairman of Legendary, has taken a 37% stake in IBS for nominal consideration on the same terms that Legendary acquired its stake.

As part of his role as Legendary's Executive Chaiman, Zafar Karim will help develop the IBS business proposition as he and the Legendary board have done so with other investee companies.

IBS has commenced the process of obtaining the necessary authorities from the New Zealand regulators to be able to conduct a range of financial services including investment banking, asset management, debt funding and insurance services aimed at corporate and high net worth clients. Further announcements on progress at IBS will be made in due course.

- ENDS -

 
                          Zafar Karim 
 Legendary Investments     / Thomas         020 8201 
  PLC                      Reuner            3536 
                          Colin Aaronson 
 Grant Thornton            / Harrison       020 7383 
  UK LLP                   Clarke            5100 
 Beaufort Securities                        020 7382 
  Limited                 Elliot Hance       8300 
 

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 13, 2017 11:53 ET (15:53 GMT)

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