Motive Television PLC Issue of Equity and amendment of Bergen deed (2297U)
July 28 2015 - 2:01AM
UK Regulatory
TIDMMTV
RNS Number : 2297U
Motive Television PLC
28 July 2015
28 July 2015
Motive Television PLC
("Motive" or the "Company")
Issue of equity and amendment of deed
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
GBP280,000 of existing debt into equity (the "Conversion").
Accordingly, the Company has allotted 3,733,333,333 ordinary shares
of GBP0.00005 ("Ordinary Shares") at a price of GBP0.000075 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 not to, and to cause its affiliates
not to, short-sell the Company's Ordinary Shares.
The Company has also entered into a deed of amendment in
relation to the Deed. Under the amendment, the currently
outstanding nominal amount of the first convertible security
previously issued under the Deed has been amended from GBP641,838
to GBP756,534 (and shall be GBP476,534 following the Company
meeting its obligations under the Deed in relation to the
Conversion), in consideration of Bergen foregoing certain rights
under the Deed.
All the other terms of the Deed remain as previously
announced.
The issue is conditional, inter alia, upon admission of the
3,733,333,333 Ordinary Shares to trading on AIM. The shares will
rank pari passu with the existing issued Ordinary Shares.
Application will be made for the shares to be admitted to
trading on AIM. Admission is expected to become effective and
dealings are expected to commence on AIM on 31 July 2015. Following
the issue of the shares, the Company will have 22,256,422,122
Ordinary Shares in issue.
Motive Television T: +44 20 7025
plc 8425
Michael Pilsworth,
Chairman
Leonard M Fertig,
CEO
Sanlam Securities T: +44 20 7628
UK (Nominated Adviser) 2200
Simon Clements /
James Thomas
Beaufort Securities T: +44 20 7382
Ltd (Company Broker) 8300
Jon Belliss
Newgate Communications T: +44 20 7680
Jason Nisse/Stephanie 6559
Dobbs T: +44 7774
Media PR Europe 860011
Gerry Buckland T: +1 212 986
Brainerd Communicators 6667
Chris Plunkett/Mike
Smargiassi
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
IOEUBAWRVUABUAR
Motive Television (LSE:MTV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Motive Television (LSE:MTV)
Historical Stock Chart
From Apr 2023 to Apr 2024