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
