Motive Television PLC Issue of Equity (0682O)
04 2월 2016 - 5:49PM
UK Regulatory
TIDMMTV
RNS Number : 0682O
Motive Television PLC
04 February 2016
4 February 2016
Motive Television PLC
("Motive" or the "Company")
Issue of equity
The Company announces that it has received a Conversion Notice
from Bergen Global Opportunity Fund, LP ("Bergen") pursuant to the
Convertible Securities Issuance Deed between Motive and Bergen
dated 12 May 2014 (the "Deed") to exercise its right to convert
GBP47,500 of existing debt into equity (the "Conversion").
Accordingly, the Company has allotted 527,777,778 ordinary shares
of GBP0.00005 ("Ordinary Shares") at a price of GBP0.00009 per
share to Bergen ("New Ordinary Shares").
Under the terms of the Deed, Bergen has agreed to certain,
substantial, limitations on its ability to dispose of the shares
following a conversion of the Convertible Securities. Additionally,
Bergen does not, and has agreed to cause its affiliates not to,
short-sell the Company's Ordinary Shares.
Following the Company meeting its obligations under the Deed in
relation to the Conversion, the outstanding nominal amount of the
first convertible security will be reduced from GBP346,955 to
GBP299,455.
The issue is conditional, inter alia, upon admission of the
Ordinary Shares to trading on AIM. The shares will rank pari passu
with the existing issued Ordinary Shares.
The Company also announces that it has agreed to issue
1,066,666,666 Ordinary Shares at a price of GBP0.00009 to a
supplier to the Company and an adviser to the Company in lieu of
fees amounting to GBP96,000.
Application will be made for the 1,594,444,444 shares to be
admitted to trading on AIM. Admission is expected to become
effective and dealings are expected to commence on AIM on 10
February 2016. Following the issue of the shares, the Company will
have 2,835,796,544 Ordinary Shares in issue.
Motive Television plc T: +44 20 7025
Michael Pilsworth, Chairman 8425
Leonard M Fertig, CEO
Sanlam Securities UK (Nominated Adviser) T: +44 20 7628
Simon Clements / James Thomas 2200
Beaufort Securities Ltd (Company Broker) T: +44 20 7382
Jon Belliss 8300
Media PR Europe
Gerry Buckland T: +44 7774 860011
Brainerd Communicators
Chris Plunkett/Mike Smargiassi T: +1 212 986
6667
Motive Television provides broadcasters and pay television
operators with enabling technology that provides opportunities to
deliver highly valued services to viewers that generate additional
income and retain existing subscribers, comprising:
Content Express(TM)
Today's television viewers are demanding the ability to watch
whatever they want when they want it on any screen, and Motive's
Content Express(TM) makes that possible without having to build new
networks. Content Express(TM) software provides secure delivery and
management of non-linear digital content across any type of
broadcast network to any consumer-facing screen or device. Motive
has deployed it in both single and hybrid distribution systems that
combine broadband access with traditional distribution for an
optimal solution.
Motive's Content Express(TM) solutions platform provides a
one-stop shop for digital terrestrial broadcasters, satellite, DTT
cable pay television platforms, and Internet OTT content providers
to offer new services including: Video on Demand (VOD and SVOD),
Catch-up television, Tablet Television, Targeted advertising for
VOD, Mocast for 4G LTE, Virtual channels and Video2Go.
Tablet TV
With a proprietary app and T-Pod antenna-tuner, tablet owners
around the globe can watch and record all the programming currently
broadcast over digital terrestrial channels. Additionally, Tablet
TV subscribers have the ability to download a selection of
video-on-demand movies and programmes without the need for Internet
access and, when they are connected, use integrated social
networking and access anything available over the Internet.
Motive Television was founded in London in 2005 and its shares
are quoted on the London Stock Exchange (AIM).
http://www.motivetelevision.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 04, 2016 03:49 ET (08:49 GMT)
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