MTV Motive Tv

TIDMMTV

RNS Number : 6673P

Motive Television PLC

22 February 2016

22 February 2016

Motive Television PLC

("Motive" or the "Company")

Further re. Convertible Loan Notes ("CLNs")

Convertible Loan Notes

On 20 January the Company announced that the largest CLN holder had agreed to vary the terms of the previously announced deal and extend the completion date until 19 February 2016. Consequently, the Company was required to pay GBP150,000 plus GBP28,200 in legal fees in cash in order to acquire the GBP1,393,795 of CLNs held by the largest holder. The Company has been unable to meet this requirement and accordingly the CLNs have not been acquired.

Enquiries:

 
 Motive Television plc          T: +44 20 7025 8425 
  Michael Pilsworth, Chairman 
  Leonard M Fertig, CEO 
 Beaufort Securities            T: +44 20 7382 8300 
  Jon Belliss 
 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

February 22, 2016 02:00 ET (07:00 GMT)

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