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Eight Peaks Group PLC: DEEP DIVE
OVERVIEW

Eight Peaks expands portfolio in strong start to 2019

Formerly known as Legendary Investment, the investment firm focuses on “near start up” and small companies in sectors that exhibit long term growth including energy, technology, and natural resources
Cybersecurity
OVERVIEW: 8PG The Big Picture
In mid-January the firm purchased a 25% stake in cybersecurity firm SOARX

• Investment firm targeting small companies with long-term growth prospects

• Focus on “asymmetric returns” with profile skewed toward upside

• Portfolio of diverse investments covering sectors such as cybersecurity, natural resources, and banking

What Eight Peaks does

Eight Peaks Group PLC (LON:8PG) (formerly known as Legendary Investments) is an investment firm that focuses on “near start up” and small companies in sectors that exhibit long term growth including energy, technology, and natural resources.

The company said its investments must exhibit the potential and catalysts to generate “asymmetric returns”, in other words a risk/reward profile skewed toward the upside with more potential for profit than loss.

The group’s focus is primarily in high growth companies, however it may also invest in the anticipation of receiving dividends.

Once it has invested in a company, Eight Peaks assists portfolio firms in realising their potential, with returns being generated on exits (i.e. selling the stake for a higher price than paid), which can be through either an initial public offering (IPO) or a trade sale.

What it owns

Eight Peaks current portfolio (as of 29 January 2019), includes;

• 7% stake in Virtualstock Holdings Ltd, a cloud-based software-as-a-service (SaaS) business that helps retailer, supplier, brands, and healthcare providers manage their supply chains

• 11% stake in IBS Corporation, a New Zealand-based private banking services platform

• 2% stake in Dunraven Resources, an exploration and production firm focused on North Africa and the Middle East

• 9.7% stake in Crowd For Angels, a UK-based crowdfunding platform

• A “non-core” holding in Medgold Resources Corp, an exploration firm targeting gold-silver projects in Serbia

• 25% stake in SOARX Limited, a software firm operating in the cyber security space

• A stake in Amedeo Resources, an oil and gas and resources infrastructure investment company, valued at £19,000 as of 17 August 2018

Inflexion points

• On 20 December 2018 the group raised £610,000 via a placing of 6.1mln new shares at a price of 10p, a 14.3% premium to the close price on the day, to fund further investments and working capital

• In its half-year results to 30 September 2018 the firm made a net gain on investments of £2,000

Next update

Taking previous years into account, the company’s most likely performance update will be at its full-year results that are normally published around late-August and early-September.

With shares trading at 8p as of 29 January, Eight Peaks carries a market cap of £1.44mln.

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Eight Peaks Group PLC Timeline

CN Research
September 03 2018

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