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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Emmit | LSE:EMT | London | Ordinary Share | GB00BFN09H12 | ORD 0.001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 97.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
The following amendments have been made to the Update on Investments, Issue of Equity and Change of Nomad announcement released on 26 August 2014. The number of Conversion Shares stated in the third paragraph of the announcement should read 11,087,480 and not 11,078,480 as previously stated. Additionally, the statement regarding the application for the New Issued Shares to be admitted to trading on AIM has been changed to state that “Application has been made for the admission of the New Issued Shares to trading on AIM, which is expected to occur on or around 4 September 2014.” All other details remain unchanged. The full amended text is shown below. Emmit Plc ("Emmit" or the "Company") Update on Investments Issue of Equity Change of Nomad The Company is pleased to provide an update on Ximax Environmental Solutions Plc and Ximax Oil and Gas Limited (together "Ximax"), the two investments entered into earlier this year. Ximax continues to make good progress in marketing its Xziox product to agricultural users in the UK and Ireland and has secured a number of new clients, which is expected to lead to strong growth in sales and profits during 2014. Its international development is also proceeding well, particularly in the US and the United Arab Emirates. In August, following successful field trials earlier this year, Ximax, through its US distributor, American Flo Excel, LLC, signed a 10 year agreement with ROLCO Energy Services (www.rolcoenergyservices.com) to supply Ximax's FlowXcel product for water treatment in the US unconventional oil and gas industry. In the UAE, Ximax continues to engage in positive discussions regarding the supply of Xziox for the treatment of water in parks and fountains. Ximax believes that successful fulfilment of either the US or the UAE opportunities should lead to a step change in Ximax's revenues. The Company hopes to provide a more detailed update at the time of its interim results in September. The Company is also pleased to announce that the Leo Knifton has agreed to sell all his remaining convertible loans, with Company also drawing down on the outstanding £183,785.18 of convertible loan notes. The buyers have all agreed to convert the loans into new ordinary shares of 0.001p in the Company ("New Ordinary Shares"), which will result in the issue of 11,087,480 New Ordinary Shares (the "Conversion Shares"). The Company has also received a notice to exercise 1,000,000 warrants from Mr Shakeel Harun at 6p per New Ordinary Share (the "Warrant Shares"). These warrants have been transferred from Oil and Gas Chemical Holdings Limited, one of the vendors of Ximax. The Company has also raised £70,000 through the issue of 87,500 New Ordinary Shares at 80p to Lindsay Smith, an existing shareholder (the "Subscription Shares"). In aggregate, the drawdown of the convertible loan, the warrant exercise by Mr Shakeel and the subscription by Mr Smith, will inject approximately £293,000 of new capital into the Company. Following the issue of the Conversion Shares, the Warrant Shares and the Subscription Shares (together the "New Issued Shares"), the Company will have 18,268,743 ordinary shares in issue, all the convertible loan notes will have been exercised and the Company will have 4,800,000 6p warrants outstanding. The holdings of the Company's significant shareholders are set out below: Name Number of Shares Percentage Number of Warrants Holding Irlanza Inversiones SL 5,187,480 28.4 - Trans Phoenix 5,000,000 27.4 - Corporation Shakeel Harun 1,500,000 8.2 - Lindsay Smith 1,192,287 6.5 Leo Knifton 593,180 3.3 - Oil & Gas Holdings 392,287 2.8 4,800,000 Application has been made for the admission of the New Issued Shares to trading on AIM, which is expected to occur on or around 4 September 2014. Following the issue of equity, the Company's issued share capital will comprise 18,268,743 ordinary shares of 0.001 pence each. The Company holds no shares in treasury and each share carries one vote. This figure may be used by shareholders in the Company as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change to their interest, under the Disclosure and Transparency Rules. The Company is also pleased to announce the appointment of Daniel Stewart & Co Plc as nominated adviser with immediate effect. For further information please visit www.emmitplc.com or contact: Emmit plc Dean Cook 01473 604504 Managing Director Daniel Stewart Antony Legge 020 7776 6550 Nominated Adviser Alexander David Securities Ltd David Scott 020 7448 9820 Broker
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