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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Limitless Earth Plc | LSE:LME | London | Ordinary Share | GB00BKXP5L71 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.60 | 1.20 | 2.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Business Services, Nec | 0 | -476k | -0.0073 | -2.19 | 1.05M |
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 +44 (20) 7213 0880 Nominated Adviser www.cairnfin.com Jo Turner/Tony Rawlinson Peterhouse Corporate Finance Limited +44 (20) 7469 0930 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)
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