ERUMA PLC 
By
Emmit plc
(the "Company" or "Emmit")
Convertible Loan Note
The Company announced on 29 October 2013 that it had entered into an unsecured borrowing facility of up to £300,000 at an interest rate of 5 per cent. per annum to provide the Company with a working capital facility. Mr Leo Knifton (the "Lender") has an interest over 593,180 ordinary shares in the Company, representing approximately 23.79 per cent. of the issued shares of the Company.
The Company has agreed with the Lender to restructure the terms of the borrowing facility by way of a 5 per cent. unsecured convertible loan note that may be converted into ordinary shares in the Company at a price of 6 pence per share. Conversion may occur at any time up until 31 December 2017. The present amount of borrowings advanced under the facility will be treated as convertible loan notes.
In addition, up to £100,000 will continue to be available to be advanced by the Lender under the terms of the existing unsecured borrowing facility.
The restructuring of the borrowing facility to provide for up to £300,000 of convertible loan notes and the additional £100,000 of borrowing available under the earlier unsecured borrowing facility (the "Transaction") is a related party agreement pursuant to the AIM Rules as the Lender is a substantial shareholder of the Company.
The directors of the Company, having consulted with Cairn Financial Advisers LLP, the nominated adviser to the Company, believe that the terms of the Transaction are fair and reasonable insofar as shareholders are concerned.
The issued share capital of the Company comprises 2,493,763 ordinary shares of 0.0001 pence each.
For further information please visitwww.emmitplc.comor contact:
Emmit plc | Dean Cook | 0 1473 604504 |
Cairn Financial Advisers LLP Nominated Adviser | Liam Murray | 020 7148 7900 |
Allenby Capital Limited Broker | Katrina Perez | 020 3002 2074 |
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