TIDMLME 
 
19 January 2021 
 
                              LIMITLESS EARTH PLC 
 
                        ("Limitless" or the "Company") 
 
                          Saxa Gres Investment Update 
 
Limitless Earth plc, an AIM quoted investing company, provides an update on its 
investment in Saxa Gres S.p.A. ("Saxa Gres"), a private Italian company focused 
on recycling industrial waste into the production of stoneware tiles and paving 
stones. 
 
Saxa Gres S.p.A is a circular economy company which specialises in innovative 
porcelain gres ceramic stone tile production that uses recycled urban waste ash 
in the ceramic mix. It has successfully expanded its operations through 
acquisition of further factories in order to satisfy the increasing demands for 
its products and by attracting interest from strategic and financial investors. 
 
The main product is called Grestone, a patented product that is composed of up 
to 30% of waste from urban waste incinerators. Such ability to recycle waste 
ashes makes Saxa Gres' business highly rated from a circular economy and ESG 
criteria point of view. Furthermore, Grestone is a product that meets the 
Minimum Environmental Criteria (CAM), an important sustainability credential 
for tenders and Green Public Procurement (GPP). Approximately 90% of Saxa Gres' 
production is sold and exported outside of Italy. 
 
LME, together with certain international asset managers, was amongst the first 
investors and sponsors to participate in the turnaround of Saxa Gres. Since 
2015, in addition to implementing its new circular economy model of 
waste-to-building-material, the turnaround of Saxa Gres has saved hundreds of 
jobs. 
 
To date, LME has made three investments in Saxa Gres and, as a result, LME 
holds listed EUR 617,000 bond notes maturity 2023 and a EUR 75,000 of 10 per 
cent. loan with an option to acquire approximately 2.38 per cent. of the equity 
share capital of Saxa Gres at an exercise price of ?1EUR per share. 
 
The Board of LME is pleased to note the recent entrance of A2A S.p.A., a ?4 
billion listed company, as a Saxa Gres shareholder (27.7%) and as a relevant 
industrial partner which could help to expand and solidify Saxa Gres' 
successful business model. 
 
At the request of Saxa Gres in order for it to better access bank financing to 
further its investment plans, the Board of LME, together with 96% of the 
existing 2023 bond holders, has agreed to exchange its 617 Saxa Grs bond notes 
with maturity in 2023 into a similar amount of Saxa Gres notes of 7 per cent. 
with maturity in 2026. 
 
LME is also working with Saxa Gres to obtain more detailed information for a 
valuation of this investment in the near future. 
 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014. 
 
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/Sandy Jamieson/Ludovico Lazzaretti 
 
Peterhouse Capital 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. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

January 19, 2021 02:01 ET (07:01 GMT)

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