TIDMEMT 
 
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 GBP183,785.18 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 GBP70,000 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 GBP293,000 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 
 
 
 
END 
 

Emmit (LSE:EMT)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Emmit Charts.
Emmit (LSE:EMT)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Emmit Charts.