Amphion Innovations PLC Restructure of Loan and Additional Drawdown (1523A)
December 22 2017 - 2:00AM
UK Regulatory
TIDMAMP
RNS Number : 1523A
Amphion Innovations PLC
22 December 2017
AMPHION INNOVATIONS PLC
("Amphion" or "the Company")
Extended Repayment and Additional Draw Down on Loan Facility
London and New York, Amphion Innovations plc (AIM: AMP), the
developer of medical, life science, and technology businesses,
announces that the Company has agreed terms for re-structuring the
loan payments under the Facility and the draw-down of an additional
US $1,550,000 (an "Additional Draw") under the loan facility as
announced on 5 June 2014 (the "Facility").
The loan balance under the Facility after the Additional Draw
will be US $6,187,786 including fees and accrued interest through
the date of close. The loan balance will be repaid in 7 monthly
instalments from 15 June - 15 December 2018. Prior to this change
the loan balance would have come due on 15 January 2018.
Under the terms of the Additional Draw, the interest rate will
be 10%. The Lender will also receive 10% of the appreciation on
12,000,000 ordinary shares of Motif Bio plc above 35 pence. The
proceeds are to be used for working capital for Amphion and its
Partner Companies.
The current loan under the Facility continues to be secured by
the pledge by the Company of 36,371,625 ordinary shares of Motif
Bio plc. Amphion has transferred the legal title to, but retains
the beneficial interest in, the total pledged shares. The Lender
has agreed not to sell any ordinary shares of Motif Bio plc until
15 June 2018 as long as the Company remains in compliance with the
terms of the Facility.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For further information please contact:
Amphion Innovations Tel: +1 (212) 210 6224
Charlie Morgan
Panmure Gordon Limited (Nominated Tel: +44 (0)20
Adviser and Corporate Broker) 7886 2500
Freddy Crossley / Ryan McCarthy
(Corporate Finance)
Charlie Leigh-Pemberton
(Corporate Broking)
Northland Capital Partners Tel: +44 (0)20 3861
Limited (Joint Corporate Broker) 6625
Patrick Claridge / David
Hignell (Corporate Finance)
John Howes (Corporate
Broking)
Walbrook PR Tel: +44 (0)20 7933 8780
or
Mike Wort/ Paul McManus amphion@walbrookpr.com
About Amphion Innovations plc
Amphion Innovations is a developer of medical, life science and
technology businesses. We use our extensive experience in company
building to invest and build shareholder value in high growth
companies in the US and UK. Amphion has significant shareholding in
7 Partner Companies developing proven technologies targeting
substantial commercial marketplaces. The Amphion model has been
refined to optimise the commercialisation of patents and other
intellectual property within the Partner Companies. The Partner
Companies collectively own or control over 200 separately
identified pieces of intellectual property, a number which grows
rapidly each year.
On the web: www.amphionplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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