REG-Limitless Earth Plc: Further Investment Saxa Gres S.p.A <Origin Href="QuoteRef">LMEL.L</Origin>

Limitless EarthAnnouncement

21/03/2017 07:18

21 March 2017

LIMITLESS EARTH PLC
("Limitless" or the "Company")

Further Investment Saxa Gres S.p.A

Limitless, an AIM quoted investing company, is pleased to announce that it has
made a further investment in Saxa Gres S.p.A. ("Saxa Gres"), a private Italian
company focused on waste recycling industrial waste into the production of
porcelain stoneware tiles.

In December 2015, Limitless invested EUR €350,000 acquiring 350 SaxaBond
notes each of which had a nominal value of EUR €1,000 and a coupon of 10 per
cent. (“Notes”) The Notes were accompanied by options to acquire 1.655% of
the equity share capital of Saxa Gres, each option having an exercise price of
EUR €1. 

Limitless has now increased its investment in Saxa Gres by acquiring a further
267 Notes for a value of EUR €267,000 Eur. These Notes are also accompanied
by options to acquire shares in Saxa Gres, in this case to acquire another
1.333% of its equity share capital with each option having an exercise price
of EUR €1.  In total, Limitless now holds options to acquire approximately
2.5% of the equity share capital of Saxa Gres at an exercise price of EUR €1
per share.

Investment Terms

The Notes carry the same terms as the Company’s initial investment with a
coupon of 10 per cent. and a maturity period of two years. Terms of the
repayment allow for repayment to occur from 6 months from the date of
investment and quarterly thereafter.

The options to subscribe for equity at an exercise price of EUR €1 per
share. Exercise of the options accompanying the Notes is at the Company’s
discretion anytime until 15 December 2018, as specified in the terms and
conditions of the options. At the time of the initial investment, the
directors of Saxa Gres valued the business in excess of €30 million.

Saxa Gres S.p.A.

Saxa Gres has concluded the re-start up phase and is now manufacturing high
quality tiles made of porcelain stoneware at full capacity, with a daily
production of 5,600 sqm. of tiles. It is implementing its industrial plan in
line with its internal forecast and the company is closer to start using
incinerator ashes in the tile composition in line with the circular economy
project of a Saxa Gres Eco District. To reduce the ecological footprint of
its operations, in December 2016, Saxa Gres filed an application for the
construction of an OFMSW bio-digester which will increase the use of energy
from renewable resources while reducing production costs.  Because of the
progress being made by Saxa Gres in developing its production process,
Limitless has decided to increase its investment in Saxa Gres by acquiring the
additional options to convert into equity share capital along with the Notes
which provide a favourable coupon of 10 per cent. per annum.

Guido Contesso, Director of Limitless, commented:  "Because we are satisfied
that Saxa Gres is progressing in line with the initial business plan, we have
decided to increase Limitless’s investment in the secondary market by
acquiring additional Notes and, as well as receiving the favorable 10 %
coupon, we also received further options to convert in Saxa Gres shares at EUR
€1 in a company that is now in full production and hiring status. The
investment is in a company that in our opinion has great potential”

For further information, please contact:

 Limitless Earth plc Guido Contesso                                               +44 (0) 7780 700 091 www.limitlessearthplc.com  
 Cairn Financial Advisers LLP Nominated Adviser Jo Turner/Tony Rawlinson          +44 (0) 20 7213 0880 www.cairnfin.com           
 Peterhouse Corporate Finance Limited Broker Peter Greensmith/Charles Goodfellow  +44 (0) 20 7469 0930 www.pcorpfin.com           

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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