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
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