TIDMMTV

RNS Number : 4818G

Motive Television PLC

20 November 2015

20 November 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 GBP72,500 of existing debt into equity (the "Conversion"). Accordingly, the Company has allotted 241,666,667 ordinary shares of GBP0.00005 ("Ordinary Shares") at a price of GBP0.0003 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.

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 GBP480,850 to GBP408,355.

The issue is conditional, inter alia, upon admission of the 241,666,667 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 26 November 2015. Following the issue of the shares, the Company will have 869,230,888 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 
Newgate Communications 
 Jason Nisse/Stephanie Dobbs                T: +44 20 7680 
                                            6559 
 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'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

IOELLFEFLELIFIE

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November 20, 2015 08:00 ET (13:00 GMT)

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