ERUMA PLC 
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Index: AIM / Ticker: EMT / Sector: Support Services
Emmit plc ("the Company" or "Emmit")
Ximax Environmental Solutions PLC
The board is pleased to announce that the Company has made its first investment as an investing Company.
The Company has acquired from Oil & Gas Chemical Holdings Limited, (a company incorporated in the Republic of Seychelles) 1,016,500 shares in Ximax Environmental Solutions plc ("Ximax"), representing 20 per cent. of Ximax's issued share capital for a consideration of £30,000, satisfied through the issue of 500,000 new ordinary shares in the Company at a price of 6 pence per share.
In addition the Company has issued a warrant over 4,500,000 new ordinary shares in the Company to Oil & Gas Chemical Holdings Limited, exercisable at a price of 6 pence per share at any time prior to 31 December 2017.
Issue of equity
Application has been made to the London Stock Exchange for the 500,000 new ordinary shares to be admitted to trading on AIM. Admission of the 500,000 new ordinary shares is expected to occur on or around 14 March 2014. The new ordinary shares will rank pari passu with the existing ordinary shares.
Following the issue of the 500,000 new ordinary shares the so enlarged issued share capital of the Company will comprise 2,493,763 ordinary shares of 0.001 pence each.
Following the issue of the warrant over 4,500,000 ordinary shares described above, the Company has warrants in issue over 4,900,000 ordinary shares.
Ximax Environmental Solutions plc
Formed in 2009, Ximax is a niche water treatment company focusing on developing environmentally friendly and cost effective biocides disinfection products for the water treatment markets. Ximax has developed a proprietary high purity chlorine dioxide product called XzioXTM which treats water sources such as reservoirs, rivers, boreholes, poultry, oil, gas and fracking, with the objective of providing an acceptable kill rate on bacteria such as Pythium, E-coli, TVCS and Listeria. XzioX has applications in the agricultural, food, oil, gas and beverage sectors.
A summary of Ximax's latest audited financial information is set out in the table below:-
£'000 | 17 months to 28 Feb 2013 (audited) | |
Turnover | 10,945 | |
Profit after tax | 210 |
Commenting, Dean Cook, Chairman and CEO Emmit, said:
"Clean water is the key to all life. Emmit's board believes Ximax is ideally positioned, having the requisite management team and expertise to take advantage of these trends. I am very excited by the potential Ximax has and look forward to informing all stakeholders of further developments in the future."
Total Voting Rights
In accordance with the FCA's Disclosure and Transparency Rules, the Company wishes to notify the market of the following:-
Subsequent to the issue of equity set out above, the total issued share capital comprises 2,493,763 ordinary shares of 0.001 pence each, all with voting rights. No ordinary shares are held in treasury at the date of this announcement. The total number of current voting rights in the Company therefore will be 2,493,763.
The figure of 2,493,763 may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in the Company.
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 |
This information is provided by RNS
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