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Legendary Investments hails proactive investing style

Shares in Legendary Investments (LON:LEG) made heroic gains on Tuesday after a well-received set of full-year results.

The investment firm said it made good progress against its stated strategy of delivering high returns through proactive investments in growth companies.

The company showed a handsome return on its investment in Fastnet Oil and Gas (LON:FAST), realising £119,000, or a return of 4.3 times its investment in 17 months.

Meanwhile, in July 2011 the company invested £50,000 in Medgold Resources (CVE:MED) and, following the company’s reversal into CVE-listed Emerick Resources, Legendary Investments is sitting on a return of 1.9 times its initial investment after just 16 months.

Legendary’s loss per share in the year to 31 March was unchanged from the previous year at 0.01p.

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September 03 2018

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