Correct, there has been a premine of 50,000,000 LEOcoins. They have been distributed as stated by Dan Andersson in the interview that was exclusively made for this thread.

The good thing about the premine, besides that 10,000,000 of them are now held by the LEOcoin Foundation, is that it prevented the botnet miners to take over the blockchain, once they got 51% of the POW hashes.

Even when 51%-attacks are perhaps a mere theoretical exercise, currently Bitcoin and the two chinese mining pools with a combined total of over 51% is in a less fortunate situation.