Limitless Earth Plc Conversion of Investment in V-Nova

 
TIDMLME 
 
5 April 2017 
 
                              LIMITLESS EARTH PLC 
 
                        ("Limitless" or the "Company") 
 
             Conversion of Investment in V-Nova International Ltd 
 
Limitless, an AIM quoted investing company, is pleased to announce that it has 
agreed to convert its investment in V-Nova International Ltd ("V-Nova"). 
 
On 18 December 2015, the Company invested GBP500,000 in V-Nova, a London based 
leading provider of signal and data compression solutions, in a convertible 
loan note. Under the terms of the convertible loan agreement, the Company was 
granted the right to exercise an early conversion of the loan note into Series 
B1 Participating shares at a 20% discount to a preferential valuation for 
V-Nova of GBP100 million. 
 
The Board of LME decided to convert the loan note in V-Nova following V-Nova's 
recent public announcements which include, inter alia, Eutelsat, the biggest 
European Satellite operator, becoming a minority shareholder in the company, 
Thaicom selecting the company's technology for their UHD services and the rate 
of growth of the fastfilmz business in India. Further, LME was satisfied with 
V-Nova's business plan and its execution to-date and the continued expansion of 
its patent portfolio and IP protection which provides Limitless with confidence 
in V-Nova's market traction. 
 
Guido Contesso, Director of Limitless, commented:  "Because we are satisfied 
that V-Nova is progressing in line with its initial business plan, we made the 
decision to convert our loan into V-Nova shares at a preferential valuation of 
GBP100,000,000 with an additional 20% discount. Above all, we are encourage that 
leading Telecoms institutions have selected V-Nova's. Our investment is in a 
company that, in our opinion, has great potential and importantly a highly 
skilled and experienced management team" 
 
For further information, please contact: 
 
Limitless Earth plc                                                    +44 
(7780) 700 091 
Guido Contesso 
www.limitlessearthplc.com 
 
Cairn Financial Advisers LLP                                  [phone] 
0880 
Nominated Adviser 
 www.cairnfin.com 
Jo Turner/Tony Rawlinson 
 
Peterhouse Corporate Finance Limited                   [phone] 
 
Broker 
 www.pcorpfin.com 
Peter Greensmith/Charles Goodfellow 
 
 
About Limitless Earth plc 
 
Limitless Earth plc is a proactive investment company that focuses on making 
investments in and assisting companies which exhibit the potential to generate 
returns through capital appreciation.  Limitless invests in small companies 
where there are clear catalysts for value appreciation and the companies are 
operating in sectors exhibiting long term growth linked to demographic change. 
Examples of such sectors include Cleantech, Life Sciences, nanotech, medtech, 
recycling, and new Internet opportunities 
 
 
 
END 
 

(END) Dow Jones Newswires

April 05, 2017 02:00 ET (06:00 GMT)