PeerTV PLC Issue of Equity (2361M)
January 18 2016 - 12:11PM
UK Regulatory
TIDMPTV
RNS Number : 2361M
PeerTV PLC
18 January 2016
18(th) January 2016
PeerTV PLC
("PeerTV" or the "Company")
Issue of Equity
PeerTV plc (AIM:PTV), a provider of technology solutions for the
OTT (TV over the internet) market, and PCB (printed circuit board)
production solutions announces that it has issued 3,400,000
Ordinary shares at a price of 1.5056 pence per share to YA Global
SPV Limited ("YAG") being a further net drawdown of GBP51,189 under
the Standby Equity Distribution Agreement announced on 30(th) July
2014.
The Advance Notice in respect of this drawdown was announced on
4(th) January 2016. YAG elected to reduce the amount of the
drawdown from GBP68,000 to avoid exceeding the limits of its
possible shareholding in the Company under the terms of the Standby
Equity Distribution Agreement.
The issue price of the shares was determined based on the lowest
Volume Weighted Average Price (VWAP) during the relevant pricing
period which ended on 14(th) January 2016.
The Company is actively seeking alternative sources of
financing.
Application has been made for the New Shares to be admitted to
trading on AIM and admission is expected to occur at 8:00am on
22(nd) January 2016 ("Admission").
Following Admission, the Company will have in issue 15,712,320
Ordinary Shares. The Company does not hold any Ordinary Shares in
treasury. Therefore the total number of Ordinary Shares with voting
rights in the Company will be 15,712,320. This figure may be used
by Shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company.
Further enquiries:
PeerTV Plc
Eitan Yanuv, Chairman
Tel: +972 974 07315
ZAI Corporate Finance Limited
Tim Cofman / Richard Morrison
Tel: +44 20 7060 2220
Daniel Stewart & Company plc
David Coffman
Tel: +44 207 7766550
This information is provided by RNS
The company news service from the London Stock Exchange
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