28 Jan 2014 07:00
Amphion Innovations plc
Convertible Promissory Note Extended Through December 2015
London and New York, 28 January 2014 - Amphion Innovations plc (LSE: AMP) ("Amphion" or the "Company"), the developer of medical and technology businesses, today announces that following a meeting of the holders of £5,758,218 of the Amphion Innovations plc Convertible Promissory Notes (the "Notes"), it has successfully extended the conversion date of the Notes to 31 December 2015 on revised terms.
The Notes are now convertible into fully paid Ordinary Shares of 1 pence in the capital of the Company at a conversion price of 10 pence and will pay interest of 7% if paid in Ordinary Shares or 5% if paid in cash or additional Notes, until conversion. In addition for every £1 of Note, two warrants will be issued. Each warrant will entitle the holder to subscribe for an Ordinary Share at 12 pence per Ordinary Share.
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 / Fred Walsh / Grishma Patel (Corporate Finance)Adam Pollock / Charlie Leigh-Pemberton (Corporate Broking)+44 020 7886 2500
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