Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAMP.L Regulatory News (AMP)

  • There is currently no data for AMP

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Amended Terms on Loan Facility

25 Sep 2019 07:00

RNS Number : 5431N
Amphion Innovations PLC
25 September 2019
 

AMPHION INNOVATIONS PLC

 ("Amphion" or "the Company")

 

Amended Terms on Loan Facility: Maturity Date Extension

 

London and New York, 25 September 2019 - Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces that the Company has agreed to amend the terms under the loan facility (the "Facility") with the Company's debt provider ("the Lender") as originally announced on 5 June 2014 (the "Facility") and following the most recent amendment announced on 1 April 2019.

 

The Lender has agreed to extend the maturity date of the Loan Facility to 30 September 2020. No other terms have been amended.

 

The loan amount under the Facility will continue to be secured by the Company's pledge of 16,722,523 ordinary shares of Polarean Imaging plc ("Polarean"). Amphion has transferred the legal title of the total pledged shares in Polarean to the Lender, but retains the beneficial interest in the shares.

 

Since the 10 September 2019 announcement, 400,000 ordinary shares of Polarean have been sold (the "Sale") for partial repayment of the Facility. Following this Sale, Amphion holds 16,722,523 ordinary shares of Polarean, representing 14.61% of the issued share capital. The Sale generated total proceeds of approximately US $94,000, which will be applied to reduce the loan balance under the Facility. The loan balance outstanding is approximately US $2.4 million (excluding the lender's share of the pledged share price appreciation which is currently approximately US £172,500). The current value of the remaining shares pledged as security for the outstanding loan is approximately US $3.7 million at a share price of 18 pence.

 

Amphion remains highly cash constrained and continues to consider both its short term and medium term financing options and work with its debt providers. Further to the Company's announcement on 27 June 2019, the Company's shares remaining suspended from trading on AIM pending publication of the Company's annual report and account for the year ended 31 December 2018. The Company's unaudited interim results for the 6 months ended 30 June 2019 will not be published until such time as the 2018 accounts have been published.

 

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 Adviser and Corporate Broker)

Tel: +44 (0)20 7886 2500

Emma Earl/ Freddy Crossley (Corporate Finance)

 

Charles Leigh-Pemberton (Corporate Broking)

 

 

 

SP Angel Corporate Finance LLP (Joint Corporate Broker)

Tel: +44 (0) 20 3470 0470

David Hignell (Corporate Finance)

 

Vadim Alexandre (Corporate Broking)

 

 

 

Walbrook PR

Tel: +44 (0)20 7933 8780 or amphion@walbrookpr.com

Anna Dunphy / Paul McManus

 

 

 

      

 

 

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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCEAFNLAENNEAF
Date   Source Headline
31st Dec 20191:15 pmRNSAmphion Innovations
31st Dec 201912:36 pmRNSCancellation of trading on AIM
20th Nov 20197:00 amRNSDirectors' Dealings and Business Update
18th Oct 20197:00 amRNSSettlement of loan facility
11th Oct 20197:01 amRNSPolarean notes statement from Amphion Innovations
11th Oct 20197:00 amRNSSale of Partner Company Shares
3rd Oct 20197:00 amRNSSale of Partner Company Shares
25th Sep 20197:00 amRNSAmended Terms on Loan Facility
10th Sep 20194:56 pmRNSSale of Partner Company Shares
9th Aug 20194:14 pmRNSStatement on Amphion Innovations
9th Aug 20194:14 pmRNSDirectorate Change
9th Aug 20193:51 pmRNSSale of Partner Company Shares
1st Jul 20197:30 amRNSSuspension - Amphion Innovations Plc
27th Jun 20193:00 pmRNSAnnual Report and Accounts Update
14th Jun 20199:04 amRNSHolding(s) in Company
12th Jun 20197:00 amRNSLoan facility update
31st May 201910:28 amRNSHolding(s) in Company
20th May 20196:14 pmRNSHolding(s) in Company
1st Apr 20194:40 pmRNSSecond Price Monitoring Extn
1st Apr 20194:35 pmRNSPrice Monitoring Extension
1st Apr 20197:00 amRNSUpdate on Loan Facility
20th Mar 20197:00 amRNSHolding(s) in Company
19th Mar 20192:33 pmRNSSale of Partner Company Shares
18th Mar 20192:00 pmRNSPrice Monitoring Extension
15th Mar 20197:01 amRNSHolding(s) in Company
15th Mar 20197:00 amRNSSale of Partner Company Shares
11th Mar 20194:41 pmRNSAmended Terms on Loan Facility
26th Feb 20197:00 amRNSConvertible Promissory Note Extended
14th Feb 20198:00 amRNSStatement re. Motif Bio plc
7th Feb 20199:40 amRNSStmnt re Share Price Movement
1st Feb 20197:00 amRNSAppointment of Joint Broker
21st Jan 20197:00 amRNSWellGen Finalises License Agreement
11th Dec 20187:05 amRNSInvestment in Polarean & Loan Facility Repayment
16th Oct 20187:00 amRNSExtended Repayment and Draw Down on Loan Facility
28th Sep 20187:00 amRNSHalf-year Report
5th Sep 20187:00 amRNSBoard Change
23rd Aug 20183:20 pmRNSPolarean update
21st Aug 20187:15 amRNSMotif Bio notes statement from Amphion Innovations
21st Aug 20187:00 amRNSSale of Partner Company Shares
1st Aug 20184:47 pmRNSResult of AGM
29th Jun 20187:00 amRNSDirectorate Change
26th Jun 20187:00 amRNSFinal Results
23rd May 20187:00 amRNSMotif Bio notes statement from Amphion Innovations
23rd May 20187:00 amRNSSale of Partner Company Shares
20th Apr 20187:00 amRNSDirectorate Change
29th Mar 20187:00 amRNSAIM Admission & First Day of Dealings
29th Mar 20187:00 amRNSUpdate on Polarean Imaging IPO
26th Mar 20187:31 amRNSUpdate on Polarean Imaging proposed AIM IPO
2nd Mar 20187:00 amRNSConvertible promissory note extended to December
10th Jan 20185:09 pmRNSDirector dealing

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.