Ying Li’s chart – consolidating nicely around $0.14+, before the next up-move? (12 Dec 17)

Ying Li’s chart seems to be consolidating nicely around $0.14+. Where will it go from here?

 

Personal chart observation

With reference to Chart 1 below, Ying Li surged to an intraday high of $0.164 on 28 Nov 2017 immediately after the divestment announcement (See elaboration and announcement link below), before profit taking set in. Since then, Ying Li seems to be consolidating around $0.14+. Since 16 May 2017, Ying Li has been setting higher lows and higher highs. All the exponential moving averages (“EMAs”) have either stopped declining, or are moving higher. Although Ying Li’s share price has languished this year with a year to date (“YTD”) return of -2% (as compared to Yanlord’s YTD return of 21%), Ying Li’s OBV is near 20-year high which may signify accumulation. Amid positively placed direction indicators, Ying Li’s ADX is around 31.8 which indicates a trend.

Ying Li has been testing the supports of $0.142 – 0.145. Based on my personal interpretation, there seems to be a strong layer of supports around $0.140 – 0.145. On balance, it seems to be on a gradual uptrend. However, it has to breach $0.156 on a sustained basis and with volume for the chart to be more positive. Ying Li closed at $0.146 on 12 Dec 2017. A sustained break below $0.134 with volume is negative for the chart.

Near term supports: $0.146 / 0.144 / 0.141

Near term resistances: $0.147 / 0.150 / 0.154 – 0.156

Chart 1: Ying Li touched $0.164 immediately after the divestment announcement

Ying Li chart as of 12 Dec 17

Source: Chartnexus 12 Dec 2017

Do note that as with all chart reading, it is extremely subjective. Furthermore, as small caps are usually less liquid, chart reading may not be that accurate.

 

Some noteworthy developments, or points for your attention

Proposed sale of International Commercial Centre for a total cash consideration of RMB3.29b
On 28 Nov 2017, Ying Li announced that it was going to divest its International Commercial Centre (“ICC”) project and to transfer a piece of land (“Land Parcel”) to the Purchaser. The total consideration amount is approximately RMB3.29b, split over six tranches. The SGD equivalent amount is approximately S$672m, based on the announcement. (Click HERE for the announcement).

 

If this is successful, Ying Li will be able to

a) Recycle its capital and pursue new ventures and investment opportunities in Tier 1 and fast-growing Tier 2 cities in the PRC;

b) Strengthen its balance sheet by paring its debt and for general working capital;

c) Recognise an approximate gain of RMB343m (equivalent to S$70m);

d) Subject to approval, Ying Li can get the first two tranches of the divestment amount fairly quickly. Based on the total cash consideration of RMB3.29b, Ying Li can get 49.3% of the sales consideration (5 days + 30 days after completion of the proposed divestment), equivalent to RMB1,622m = S$332m. Ying Li’s current market capitalisation is around S$373m.

 

For the deal above, it is noteworthy that

a) Ying Li has written to SGX for a waiver of the need to obtain shareholders’ approval so that the transaction can be completed in an expedient manner. As of now, Ying Li has not obtained SGX’s waiver yet. If it cannot get SGX’s approval and needs to hold an EGM, it may take a longer period for the deal to be completed;

b) As with any proposed deal, there is no 100% certainty that it will go through. Even if it goes through, there may be some changes to the deal;

c) On 7 Dec 2017, Ying Li announced that it has maintained close communication with the relevant PRC authority throughout the tender and acquisition process for the Land Parcel and has received favourable response. However, in the remote event that the acquisition of the Land Parcel is unsuccessful, there will be changes to the amount of the consideration and the terms of payment. Please click HERE for the details.

 

Ernest’s personal thoughts

It is noteworthy that Ying Li’s market cap is only S$373m. Thus, this proposed divestment with a total consideration amount of approximately RMB3.29b (S$672m equivalent) is substantial and I deem it to be likely positive in the short term, should it materialise. Coupled with its chart development, it seems to be an interesting trading idea.

Do take note that this is not a fundamental write-up. Ying Li catches my attention due primarily to the above proposed divestment and its chart development. Readers should do their own research and be cognisant that there are many risks, or questions to consider such as (but not limited to) the following:

a) Illiquidity risk;

b) S chip risk;

c) Possibility of the proposed divestment falling through;

d) I have no access to Ying Li’s management. Readers who have specific questions should direct their queries to Ying Li’s management;

e) What is next for Ying Li after this sale…

 

P.S: I am vested.

 

Disclaimer

Please refer to the disclaimer HERE

64 thoughts on “Ying Li’s chart – consolidating nicely around $0.14+, before the next up-move? (12 Dec 17)

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  19. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  20. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  21. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

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  26. WHAT ARE CBD GUMMIES? CBD Gummies are the most effective, delicious and convenient way to take your daily dose of CBD. Each delicious, calming, vegan gummy contains only 15 calories and helps you so support stress and anxiety throughout the day.CBD is short for Cannabidiol – one of over 120 known compounds found in the cannabis/hemp plant (Cannabis Sativa L.) while Gummies are delicious, sweet cubes of delight that can be taken anywhere and offer the perfect way to get all the benefits of CBD while on the move. CBD is the second most prevalent compound in the plant, is non-intoxicating and has been shown to help ease anxiety, improve sleep and promote muscle recovery by supporting the body’s natural endocannabinoid system. The role of the endocannabinoid system (ECS) is to maintain homeostasis (balance) across all of the vital systems within the human body. CBD interacts with the ECS receptors distributed throughout our brains and nervous systems, helping to regulate functions including appetite, sleep, inflammation and pain response.How long before I feel the effects of a CBD Gummy? The average time from eating a gummy to feeling the effects is around 30 minutes and the daily recommended dose is 70mg which leaves room for a morning, noon and evening treat. Embrace the art of relaxation everyday.HOW MANY AND WHEN DO I TAKE CBD GUMMIES?There is no right or wrong answer. If you are using CBD for pre-work anxiety, take one when you wake up. If you are looking to stay composed before a presentation, take one at the office. If you are searching for a more refined sleeping pattern, consider having your gummies up to an hour before you go to bed.Our CBD Gummies are contained in a compact tub and box so you can take your CBD with you wherever you go. Our packaging is also fully recyclable.Goodrays UK CBD gummies are packed with 25mg of premium quality CBD. Most consumers feel the full benefits of CBD after a 25mg dose while other more experienced users may require more. Each pack contains 30 gummies designed to last you between 2 weeks and a month, depending on your preferred daily dosage. While CBD is non-toxic, we recommend you don’t exceed 70mg per day as a general rule. Check out our 5 star reviews on the product page to see what our customers have to say!WHAT ARE CBD GUMMIES? CBD Gummies are a delicious compact and discrete way to consumer CBD. The CBD is infused with delicious, natural jellies for maximum enjoyment. WHAT ARE THE BENEFITS OF CBD GUMMIES? Every consumer is different but CBD gummies have a range of health benefits such as providing calm, promoting relaxation, relieving inflammation, reducing nausea and supporting healthy sleep patterns. ARE CBD GUMMIES AS EFFECTIVE AS OTHER CBD PRODUCTS? Yes CBD gummies are effective as other CBD products but for the fastest effects we always recommend CBD oils, taken sublingually so they can be absorbed quicker WHAT EFFECTS SHOULD I EXPECT FROM CBD GUMMIES? CBD gummies have a range of health benefits such as providing calm, promoting relaxation, relieving inflammation, reducing nausea and supporting healthy sleep patterns. HOW MANY CBD GUMMIES SHOULD I EAT? Between 2 – 3 gummies per day. HOW LONG DO THE EFFECTS OF CBD GUMMIES LAST? The effects of CBD last a few hours but for the best long-term affects we recommend that consumers use CBD daily to support the body’s natural Endocannabinoid System. DO CBD GUMMIES CONTAIN THC? No, all our products contain 0 THC ARE CBD EDIBLES EGAL? Yes, CBD oil is legal. Approved products are listed under the FSA’s Public List of Novel Food products which can be found here: https://data.food.gov.uk/cbd-products.

  27. How delicious are our CBD gummies? Don’t just take our word for it, professional football player, John Hartson, said “I take the 4800mg gummies and I love them. I don’t have to worry about missing my CBD, all I do is put the tub in my gym bag and I can take it in between sessions. I can already feel the benefits and the flavours are great”. If that’s still not enough, just check out our amazing 5 star reviews on Trustpilot from over 3000 testimonials from happy customers across the UK. Join the SupremeCBD family today to start benefiting from our incredible edibles. Free UK Delivery on All Orders Over £50 Enjoy FREE UK delivery on all orders of £50 or more. Don’t miss out on this amazing offer and make the most of your CBD experience with our delicious gummies, delivered straight to your door! Shop now and unlock the power of CBD Gummies in the UK

  28. CBD GUMMIES Our CBD Gummies give you a flavourful blast of wellness-boosting CBD, with a wide variety of formulations to choose from. Our gummies have been formulated for everything from sleep and superfood supplements to multivitamins, diet aids, and more! If you’re looking for a CBD product that’s sweet on the taste buds and potent enough to serve your wellness needs — no matter what those needs are — we’ve got just the gummy for you! CBD is a great natural wellness product, due to the way it interacts with the body’s endocannabinoid system, which helps the body maintain homeostasis (balance) in several of its key functions, including mood, memory, sleep, appetite, pain and inflammation, motor control, and more. Because it’s sort of a Swiss Army knife when it comes to overall wellness, CBD is an ideal compound to match with other vitamins and nutrients to make a more robust wellness aid. CBDfx’s gummy collection gives a wide range of products, from the original mixed-berry CBD-only gummies to multivitamins for men and women to superfoods, like turmeric and spirulina, to an apple cider vinegar gummy, to a restful sleep formulation, and a biotin gummy for hair and nails. All of these gummies have great nutrient profiles and are a healthy way to add pure, natural CBD to your daily regimen. And as gummies, they taste great, too!! CBD Gummies: A Delicious Way to Enjoy CBDWhat Are CBD Gummies?CBD gummies are edible products that contain hemp-derived CBD. These small, round chewables look and taste much like the sweets that are so loved for their burst of flavour and chewability — only our gummies pack a CBD punch! Our CBD gummies not only contain organic broad spectrum CBD, but also other all-natural ingredients. These ingredients give you delicious flavour and delightful texture, plus additional benefits to help you maximise your CBD experience. Our CBD Sleep Gummies contain restful passion flower and chamomile. We have other CBD gummy formulations that make use of a variety of essential nutrients. Our Turmeric and Spirulina CBD Gummies harness the antioxidant and wellness benefits of two powerful superfoods. Our Apple Cider Vinegar CBD Gummies are great for dieting and gut health. And our Multivitamin CBD Gummies give you your daily dose of vitamins and minerals, plus the added wellness benefits of CBD. Whatever your wellness needs, we have a tasty, chewy CBD gummy for you!The Benefits of CBD GummiesWellness Benefits: CBD itself is one of the most popular wellness products on the market today. This is due, in large part, to the effect of CBD on the body’s endocannabinoid system. CBD and other cannabinoids mimic the body’s own endocannabinoids, which interact with receptors in a variety of organs and systems throughout the body, allowing them to maintain homeostasis (or balance). This helps the body to regulate such crucial functions as sleep, appetite, mood, motor control, memory, pain management, immune function, stress management, and much more. It’s these wellness benefits that make a CBD product like our gummies such a great health supplement to have around the house, whether it’s for a morning nutrition boost or a great night’s sleep.Convenience: CBD-infused gummies are a convenient (and tasty!) way to get a daily wellness blast of CBD. Gummies are also easy to use. There’s no measuring hemp oil or filling a CBD vapouriser. You simply eat them! Just remember that our gummies are not your traditional sweets, and you should adhere to our recommended dosage.Consistent Dosage: With consistent dosage in every chewable gummy, these popular products give you the peace of mind of knowing exactly how much CBD you’re taking with every one of our sweets.Delicious Flavour: Every gummy in our CBD Gummies collection has delicious natural fruit flavour, making them an absolute treat to eat — with no additives or preservatives!Non-Intoxicating: All of our gummies adhere to UK CBD legislation and are under the legal threshold of less than 0.01 THC.Nutritional Information: While our gummies come in a variety of formulations, they all have certain nutritional information in commonHow Many CBD Gummies Should I Eat?All of our vegan CBD gummies have a recommended serving size of two gummies (25 mg CBD each, 50 mg CBD per serving). That said, if this is your first time taking CBD, we recommend beginning with one gummy to see how you react to the CBD. If you seem to be getting all the CBD effects you desire, stop there. If you feel like you need more, then the next time you take CBD gummies, go ahead and try two.CBD Gummies for Pain, Sleep & StressIn addition to its many wellness benefits, CBD can also have a calming effect on the mind and body. In daily wellness products, such as CBD Multivitamin Gummies, the complementary ingredients make use of those calming properties to give mental focus without physical sluggishness. But with CBD Sleep Gummies, the additional ingredients intensify those calming effects and help the body prepare for sleep. As a result, CBD sleep products are quite effective in helping you not only fall asleep quickly, but also to sleep uninterrupted through the night.Many adults take CBD for minor pain, and it’s worth trying CBD if you’re experiencing minor muscle and joint pain. Likewise, CBD has many calming qualities that many find useful in combating stress. Many people find CBD Gummies particularly convenient for keeping in a handbag or backpack, just in case their nerves start kicking in. Gummies are a quick, convenient way to experience the calming effects of CBD.Why Buy CBDfx’s Gummies?All of our CBD gummies contain naturally grown CBD and all-natural ingredients (no GMOs or pesticides!). We also use safe extraction processes, so you never have to worry about solvent residues, as in cheaper CBD products. The result is a pure, safe, and potent CBD experience. This purity and potency can be verified by lab reports created by independent, third-party laboratories (called a Certificate of Analysis, or COA), which are available on our website. Your safety and satisfaction is our primary concern at CBDfx!Are CBDfx’s CBD Gummies Vegan?Yes! We only use natural vegetable-based ingredients in our CBD oil gummies, so you can rest assured that your gummy isn’t just organically grown — it’s also vegan!How Long Do CBD Gummies Last?CBD gummies are considered CBD edibles, which means the CBD is absorbed into the bloodstream through your digestive tract. While this takes the CBD a bit longer to kick in than, say, a sublingual CBD oil, the benefit is that the effects can last as long as six to eight hours. But be patient, CBD gummies, pills and other edibles can take 30 minutes to two hours to fully kick in, depending on bioavailability factors.CBD Gummies Vs CBD Oil Drops: What’s The Difference?As noted above, CBD gummies are considered edibles. That means the CBD is absorbed into your bloodstream through your digestive system, which can take between 30 minutes and two hours, depending on bioavailability factors (height, weight, body mass, and other variables). Once the CBD effects kick in, though, they can last as long as six to eight hours.CBD oil tinctures are absorbed through the capillaries under the tongue. This allows the CBD to enter your bloodstream much quicker (sometimes as quickly as 15 minutes). But the effects of a sublingual CBD oil typically last from two to six hours — less than the effects of CBD edibles.Can CBD Gummy Products Get You High?The oil we use in our CBD sweets is extracted from hemp, the low-THC form of cannabis. And CBD, itself, is non-intoxicating. So, our CBD gummies can’t get you high. All of our CBD products are formulated for wellness and fall within the UK legal threshold of less than 0.01 THC.Can You Take CBD Edibles For Sleep?In addition to its many wellness benefits, CBD can also have a calming effect on the mind and body. Blended with other effective ingredients, as in our CBD Sleep Gummies, CBD can be ncredibly beneficial as a sleep aid.Can You Take CBD Edibles For Pain?CBD can be taken for relief from minor pain.Can You Take CBD Edibles For Stress?CBD has calming properties that people find useful for easing stress.Can CBD Gummies Make You Fail A Drug Test In The UK?Our CBD gummies are all made with broad spectrum CBD, which has all detectable amounts of THC removed (THC being the cannabinoid most drug tests scan for). You should be okay using CBD gummies, however CBD can build up, over time, in your system. So, there is a small chance for a false positive result for people who regularly take CBD gummies. Here’s a handy guide to CBD and drug tests.I’ve Never Tried CBD Gummies. What Can I Expect?

  29. CBD Gummies – Cannabidiol Gummies Discover the pinnacle of CBD indulgence with CBD Guru’s exquisite CBD Gummies. Crafted with precision and care, our premium CBD Gummies UK are designed to elevate your wellness routine to new heights. Immerse yourself in a world of natural relief and delightful flavours, all packed into each delicious gummy variety. At CBD Guru, we take pride in sourcing the highest-quality hemp extracts to create products that transcend ordinary CBD edibles. Our CBD Gummies are meticulously formulated to provide a consistent and reliable CBD experience, ensuring you receive the full benefits of this remarkable compound. CBD sweets and gummies are precisely as they sound – delicious gummy sweets that deliver cannabidiol. They can be infused with a variety of CBD infusions, ingredients, and flavours. The design can be simple, extravagant, decadent, and everything in between. When it comes to choosing the best CBD sweets & edibles, you’ll have to take the time to find ones that speak to your taste buds. Premium Quality: We use only the finest hemp extracts, ensuring a pure and potent CBD product. Delicious Flavours: Indulge in a variety of mouth-watering flavours that make incorporating CBD into your routine a tasty delight. Trusted Transparency: With CBD Guru, you can trust the transparency of our products. Our products are third-party lab tested for quality and potency. Wellness Beyond Ordinary: Elevate your well-being with the natural benefits of CBD, known for its potential to support relaxation and balance.

  30. These reputable brands are recognised for their dedication to quality, transparent sourcing and manufacturing practices, as well as positive feedback from customers. However, it is vital to consider that the optimal selection for you may be influenced by your personal preferences and specific necessities.It’s advisable to explore different brands and read reviews to find the best CBD Gummies that align with your needs and taste preferences. 

  31. Pure and Potent Formulation: Herbal Health CBD Gummies UK boast a premium blend of hemp extracts, ensuring a pure and potent CBD experience in every bite. Elevate your well-being with the power of nature.Deliciously Irresistible Flavours: Immerse your taste buds in a world of flavours with our range of mouth-watering CBD Gummy bears. From juicy berry bursts to refreshing citrus sensations, each CBD gummy is a treat for your senses.Third-Party Tested for Quality: At Herbal Health, transparency is our priority. Rest assured that the range of CBD Gummy Sweets we offer, undergoes rigorous third-party testing, guaranteeing the highest standards of quality, purity, and potency.Wellness Made Convenient: Embrace the natural benefits of CBD with the ease and convenience of CBD Gummies. Perfect for those on the go or anyone seeking a tasty and discreet wellness solution.Explore Our Range: Choose from our diverse selection of CBD Sweets and edibles, each crafted to cater to specific wellness needs. Whether it’s relaxation, stress relief, or overall balance, Herbal Health has a CBD Gummy for you.Transform your wellness journey with Herbal Health CBD Gummies UK – where purity meets pleasure in every delectable bite. Shop now to experience the holistic benefits of premium CBD in a delightful and convenient form.Embrace a life of balance and bliss with Herbal Health CBD Gummies – nature’s goodness packaged just for you. Order now and discover the joy of wellness in every gummy!

  32. How many CBD gummies should I start with? If you are new to CBD we recommend starting off with a lower dose. Your metabolism and body weight will also determine how many gummies you should take and how long it will take the for it to take effect. All of our packaging comes with recommended guidelines. Are your gummies Vegan? Yes. We’re proud to say that all of our gummies are 100 vegan and made with plant-based ingredients and do not contain any animal products or by products. How do CBD gummies work? Taking our edibles is convenient, efficient, and effective method for introducing the potential benefits of cannabidiol into your body. The cannabinoids in gummies are processed through your digestive system and interact with receptors located throughout your body. Are CBD gummies safe to take? In the UK, CBD gummies are classified as food supplements, so they must abide by the same regulations as other products within this category. This requires all ingredients to be safe and for clear labelling to be present, along with a straightforward description that accurately reflects the product being sold. How long does it take CBD Gummies to kick in? We get asked a lot about how long it takes for our gummies to kick in, and the the answer is, it can vary from person to person. Factors like your body weight, metabolism, and the strength and dosage of the gummies can all play a role. But in general, you can expect to start feeling the effects within 30 minutes to an hour after eating them. It’s important to keep in mind that the effects can last for several hours, so be patient and give them some time to work their magic. We recommend starting with a lower dosage and gradually increasing until you find what works best for you. What do CBD Gummies do to your body? ccording to a recent report by Harvard University, there is some evidence to show that CBD gummies can improve a number of issues, ranging from stress to helping you switch off at night. Try them for yourself and always speak to a doctor first!Can you get high from taking CBD gummies? A question our customer services team often gets asked is: Can you get high from CBD gummies? The answer is No. Our gummies are specifically formulated to contain 0 THC. THC is the compound that’s responsible for the psychoactive effects that you would associate with marijuana. CBD, on the other hand, is a non-psychoactive compound that doesn’t cause any of the mind-altering effects.

  33. CBD edibles provide all the wellness-promoting benefits of CBD in a tasty, on the go treat! If you’re new to CBD, edibles are a great option if you don’t like the taste of CBD oil or struggle to swallow capsules. They also offer an easy way to track and tailor your CBD consumption to best suit your needs. From CBD Jelly Domes to CBD Dark Chocolate Balls, we provide premium, broad-spectrum CBD edibles to satisfy your sweet tooth while delivering all the benefits of CBD. Decide which CBD edible is right for you and get started on your CBD journey!CBD oil has a natural, earthy flavour which for first-time users can be quite unpleasant. This flavour is masked by CBD edibles which are a fun way to enjoy your daily dose of CBD at home or on the move. That being said, we also offer a range of flavoured CBD oils if you’re looking for something more palatable.The main difference between CBD oil and CBD edibles is the rate of absorption. CBD edibles have a delayed onset because your body takes time to digest and metabolise them, whereas CBD oils taken sublingually (placed under your tongue) are absorbed by your mucus membranes and thus enter into your bloodstream faster. With sublingual application, you’ll feel the effects much more quickly but how long CBD stays in your system depends on a variety of factors.

  34. Discover a symphony of natural goodness with Herbal Health CBD Gummies UK, your go-to source for premium CBD edibles. Crafted with care and precision, our range of CBD Gummies manufactured by CBD Guru are designed to be a delicious and convenient way to incorporate the benefits of CBD into your daily wellness routine.

  35. CBD edibles do not need to be refrigerated unless you are living in a hot climate. They will be comfortable below 25 degrees Celsius. However, CBD edibles should be avoided from coming into contact with direct sunlight. Excessive heat for a sufficient period can cause long-term damage to the taste and potency of this item.

  36. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  37. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  38. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  39. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  40. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  41. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  42. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  43. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  44. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  45. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  46. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  47. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  48. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  49. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  50. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  51. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  52. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  53. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  54. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  55. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  56. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  57. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  58. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  59. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  60. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  61. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  62. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

  63. Hi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ

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