Acquisition of Legendary Investments Stake in Crowd Funding Platform and Issue of Equity

21 December 2017

Legendary Investments PLC
(“Legendary” or the “Company”)

Acquisition of Stake in Crowd Funding Platform and Issue of Equity

Legendary is pleased to announce that it has entered into an agreement to acquire 9.7% of Crowd for Angels (UK) Limited (“CfA”) at a post money valuation for CfA of £3.7 million. CfA owns and operates the “Crowd for Angels” crowdfunding platform. The 9.7% stake will be paid for through the issuance to CfA of 248,275,862 Legendary ordinary shares of 0.1 pence nominal value each (“Leg Shares”) which equates to 0.145 pence per Leg Share. The closing price on 19 December 2017 of Leg Shares was 0.14 pence per Leg Share.

CfA has been at the forefront of crowdfunding since its launch in 2014. It was among the first crowdfunding platforms to become FCA regulated, one of the first to be approved by HMRC to manage the Innovative Finance ISA (IF-ISA) and is the first crowd funding platform to be launching its own Liquid Crypto Bond with attached crypto tokens through an Initial Coin Offering (“Liquid Crypto Bond”). See https://crowdforangels.com/company/plc/Crowd-for-Angels-UK-Limited-1031

Since its Launch, CfA has completed 9 fundraisings and helped raise over £3 million for investee companies. With the imminent launch of its £50 million Liquid Crypto Bond, CfA is now entering a new and exciting phase of its development. For the year ended 30 June 2017, CfA had losses of £192, 986.

Tony De Nazareth, Founder and Director of CfA, said:

“Crowd for Angels is very pleased to welcome Legendary Investments on board as a strategic investor in the business. Moving into the New Year we are excited about the plans we have for the company. We will be focussing on raising the money for our unique Liquid Crypto Bond, along with continuing to help a range of growth businesses to raise the funds they need for expansion.”

Zafar Karim, Executive Chairman of Legendary, said:

“We are delighted to be investing in Crowd for Angels. The platform has been at the forefront of its sector and continues to be so with the launch of its £50 million Liquid Crypto Bond. We expect to work with Crowd for Angels by sharing ideas and opportunities, and look forward to helping Crowd for Angels reach its potential.

“Legendary was the first outside investor in the successful tech company, Virtual Stock Holdings Limited. With its recent investment in IBS Corporation Limited, Legendary has a stake in a banking services platform and now, with the investment in Crowd for Angels, Legendary has a stake in a fintech platform. Technology, finance and its confluence, fintech are exciting sectors that will and are moulding the future.”

– ENDS –

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

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

About Crowd for Angels

Crowd for Angels (UK) Limited (“CfA”) is an FCA authorised crowdfunding platform for both debt and equity funding. Launched in January 2014, CfA has developed a sophisticated platform and successfully raised several million pounds for companies via a mix of equity and debt pitches.

CfA helps companies connect with thousands of investors and raise the funds they need. CfA investors get the opportunity to invest in shares in a tax efficient manner through the use of SEIS/EIS tax relief and through crowd bonds which can be held within the tax free Innovative Finance ISA (IF-ISA) wrapper.

CfA’s long-term aim is to be one of the biggest crowdfunding platforms in the UK and in Europe as well as internationally.

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.

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Risk Warning

Investing in small public listed or private companies involves risks, including illiquidity, lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. Investing in debt pitches through Crowd for Angels (UK) Limited involves lending to companies and therefore your capital is at risk and interest payments are not guaranteed if the borrower defaults. Crowd for Angels is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own Investment Decisions. You will only be able to invest via Crowd for Angels once you are authorised. Please click here to read the full Risk Warning.

This page has been approved as a Financial Promotion by Crowd for Angels (UK) Limited (Company number: 03064807) , which is authorised and regulated by the Financial Conduct Authority (Reference number: 176508). Investments can only be made on the basis of information provided in the Pitches by the Investee Companies concerned. Crowd for Angels takes no responsibility for this Information or for any recommendations or opinions made by the Investee Companies.

Pitches may contain forward looking statements and financial forecasts or projections. Forecasts are not a reliable indicator of future performance. Crowd For Angels makes no judgement or opinion of the likelihood of targets being achieved. Investments made in companies listed on the Crowd For Angels platform are not covered by the Financial Services Compensation Scheme (FSCS).

The availability of any tax relief, including EIS and SEIS, depends on the individual circumstances of each investor and of the company concerned, and may be subject to change in the future. If you are in any doubt about the availability of any tax reliefs, or the tax treatment of your investment, you should obtain independent tax advice before proceeding with your investment.