9 Sep 2014 07:00
Amphion Innovations plc
Additional Draws on Loan Facility
London and New York, 9 September 2014 - Amphion Innovations plc (LSE: AMP) ("Amphion" or the "Company"), the developer of medical and technology businesses, today announces that the Company has agreed terms for the draw-down of an additional four consecutive monthly tranches of $250,000 each (aggregating to $1 million) (each an "Additional Draw") under the loan facility announced on 5 June 2014 ("Facility"). The first Additional Draw was made on 5 September 2014.
The Additional Draws are on substantially the same terms as the Facility subject to the Lender receiving, on each Additional Draw, 78,035 simulated warrants in Kromek Group plc with an exercise price of 61.25 pence per share and 1,274,583 warrants in Amphion with an exercise price of 3.750 pence per share on the terms previously announced. The Lender has agreed to a reduced implementation fee on each Additional Draw of 6%.
The Additional Draws are to be used for working capital for Amphion and its Partner Companies.
For further information please contact
Amphion Innovations plcCharlie Morgan,+1 (212) 210 6224
Novella Communications Tim Robertson / Ben Heath+44 020 3151 7008Panmure Gordon Limited Freddy Crossley / Duncan Monteith (Corporate Finance)Charles Leigh-Pemberton (Corporate Broking)+44 020 7886 2500
Plumtree Capital Limited (Advisor to Amphion)
Stephen Austin
+44 207 183 2493
+1 646 568 7502
About Amphion Innovations plc Amphion (LSE: AMP) builds shareholder value in emerging companies in the medical and technology sectors, by using a focused, hands-on company building approach, based on decades of experience in both 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