TIDMMTV

RNS Number : 3603Z

Motive Television PLC

17 September 2015

17 September 2015

Motive Television PLC

("Motive" or "the Company")

Issue of equity and investment by directors - Correction

The following amendment has been made to the Issue of equity announcement released on 16 September 2015 under RNS 2968Z.

The Issue of equity announcement incorrectly states the Company's total issued share capital on Admission will be 510,564,221 Ordinary Shares, when it should have stated 502,564,221 Ordinary Shares.

All other details remain unchanged. The amended text is shown below.

Motive Television PLC

("Motive" or the "Company")

Issue of equity and investment by directors

Resignation of director

Motive Television PLC (AIM: MTV) announces that it has placed 280,000,000 new ordinary shares of GBP0.00005 each ("Ordinary Shares") at a price of GBP0.00125 each to raise gross proceeds of GBP350,000 ("Placing Shares").

The funds raised will be used primarily to develop and market the company's TabletTV, BYOD TV, Content Express(TM) and Apple TV platform products.

The Company also announces that Drew Kaza has resigned from the board effective immediately, owing to his personal relocation to the Pacific coast of the USA, to pursue other business interests there. As the Company already has three non-executive directors, it is not presently intended to replace him.

All the remaining directors have agreed to accept payment of most of their compensation for the four month period ending on 31 December 2015 in Ordinary Shares, valued at approximately GBP62,000, at the market price at a future date when they are not deemed to be insiders.

Michael Pilsworth, Chairman, said: "Drew Kaza has served as a non-executive director of Motive since 2011. On behalf of the board I would like to thank Drew for his substantial contribution to the Company since then and to wish him every success in his new business venture".

Leonard M Fertig, CEO of Motive said: "The commitment by the Directors to buy shares at a future market price, (representing a 12.6% interest in the Company at today's market capitalization), indicates their confidence in the Company's future."

Application will be made for the Placing Shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 23 September 2015 ("Admission"). Following the issue of the Placing Shares, and for the purpose of the Disclosure and Transparency Rules, the Company's total issued share capital on Admission will be 502,564,221 Ordinary Shares.

Enquiries:

 
 Motive Television plc                T: +44 20 
   Michael Pilsworth, Chairman         7025 8425 
   Leonard M Fertig, CEO 
  Sanlam Securities UK (Nominated      T: +44 20 
   Adviser)                            7628 2200 
   Simon Clements/James Thomas 
  Beaufort Securities Ltd (Company     T: +44 20 
   Broker)                             7382 8300 
   Jon Belliss 
  Newgate Communications 
   Jason Nisse/Andre Hamlyn            T: +44 20 
                                       7680 6559 
   Media PR Europe 
   Gerry Buckland 
                                     T: +44 7774 
   Brainerd Communicators                 860011 
   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's content division is:

Motive Television Limited, a Dublin-based award-winning independent production company that produces factual programmes for Irish broadcasters. It specializes in live sports production and sports documentaries and also produces factual and entertainment series.

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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September 17, 2015 05:11 ET (09:11 GMT)

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