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 £500,000 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 £100 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 £100,000,000 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