23 Feb 2012 16:36
Amphion Innovations plcNew Debt Facility
London and New York, 23 February 2012- Amphion Innovations plc (LSE: AMP) ("Amphion" or the "Company"), the developer of medical and technology businesses, today announces it has secured additional unsecured loan financing of $500,000 from R. James Macaleer, Chairman of Amphion, who is also interested in 17.37% of the issued share capital of the Company. The loan is repayable on 21 August 2012 and carries interest at 7 per cent per annum.
Mr. Macaleer will also receive 500,000 warrants. Each warrant will entitle the holder to subscribe for one Ordinary Share at 8 pence per Ordinary Share and will have an expiration date of 31 December 2013.
This transaction is deemed a related party transaction for the purposes of the AIM Rules. As a result, the Independent Directors consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
For further information please contact:
Amphion Innovations
Charlie Morgan
+1 212 210 6224
Cardew Group
Tim Robertson
+44 (0)20 7930 0777
Seymour Pierce Limited, Nominated Advisor
Freddy Crossley/ Mark Percy
+44 (0)20 7107 8000
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