2 Nov 2015 15:24
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Don't have an account? Click here to register.PeerTV surges after CEO resigns
Mon, 25th Jan 2016 11:03
(ShareCast News) - The chief executive of AIM-listed Peer TV has resigned just months after announcing a deal to offload troublesome subsidiary.Vermus, who joined Digitek in 2011 as chief financial officer and was appointed CEO of the whole group in January 2012, has resigned with immediate effect.In a short statement, Peer TV said it was now "devoting its full resources to the PeerTV team to support and build the OTT [over the top] business".The OTT business is focused on TV 'red button' technology, developing smart TV solutions that range from its line of set-top-box hardware and content management software for the internet TV market.In October's debt-for-equity-swap deal, the group offered to exchange all Digitek loan notes in issue for 75% of the ordinary and preference share capital of Digitek. The deal was designed to cut PeerTV's equity holding from 64.1% of Digitek to 25%, with Digitek loan note holders owning the remainder.Shares in Peer TV bounced 56% to 3.74p on the resignation news.
More News
29 Oct 2015 09:52
PeerTV set-top box chief Wes Wilcox resigns
(ShareCast News) - PeerTV Plc announced the resignation of Wes Wilcox, the chief executive of its set-top box business PeerTV Limited. The company, which provides technology solutions for the television set-top box industry, said Wilcox has given a number of reasons which, taken together, have led h
Read more20 Oct 2015 14:34
19 Oct 2015 11:13
PeerTV rockets as it looks to cut stake in Digitek
(ShareCast News) - Shares in PeerTV rocketed after the company announced a proposed capital restructuring of cash-hungry subsidiary Digitek. PeerTV, which provides technology solutions for the television set-top box industry, has agreed with loan noteholders of Digitek to exchange 100% of the notes
Read more16 Oct 2015 07:26
9 Oct 2015 13:57
PeerTV confirms talks with Digitek loan note holders
(ShareCast News) - PeerTV noted the big jump in its shares on Friday and confirmed it has commenced preliminary discussions regarding a debt to equity conversion with key loan note holders of Digitiek SMT Assemblies Limited. The company, which currently owns 64.12% of Digitek, said discussions are a
Read more28 Sep 2015 11:42
PeerTV needs to continue raising funds despite narrowing first half losses
(ShareCast News) - PeerTV has increased turnover and reduced losses in the six months to 30 June, but its chairman said it needs to continue to raise funds for the company. The technology solutions provider for the TV over the internet and printed circuit board production markets posted its interim
Read more30 Jul 2015 16:54
PeerTV says first orders for its new assembly line are progressing well
(ShareCast News) - PeerTV said on Thursday its initial orders from two new customers are progressing according to schedule. The smart TV services company also said its Digitek unit received a new order for its new assembly line Full Turnkey Production from an Israeli developer and producer of fleet
Read more