23 May 2018 07:00
Amphion Innovations plc
("Amphion" or "the Company")
Sale of Partner Company Shares
London and New York: Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces that 8,896,034 shares in Partner Company, Motif Bio plc ("Motif"), have been sold directly to a leading US institutional investor at 31 pence per share (the "Motif Shares"). Net proceeds of approximately US $3,700,000 from the sale of the Motif Shares will be used as partial repayment of the loan facility (the "Facility") originally announced on 5 June 2014 with the most recent terms announced on 22 December 2017, as well as ongoing business operations and development of Amphion's other Partner Companies. Following this sale, Amphion's holding will represent 9.53% of the issued share capital of Motif (following Motif's recent placing announced on 17 May 2018). The Motif Shares had a book value of US $3,497,019.85 as at 30 June 2017.
With the sale of the Motif shares, Amphion is able to pre-pay three months' of loan repayments to the lender of the Facility. Following repayment, the current loan balance of the Facility will be US $3,685,183 including fees and accrued interest. The remaining loan balance will be repaid in 4 monthly installments from 15 September - 15 December 2018.
The current loan under the Facility continues to be secured by the pledge of 27,475,591 ordinary shares of Motif Bio plc. Amphion has transferred the legal title to, but retains the beneficial interest in, the total pledged shares. Amphion recognises the intrinsic value of its Motif Bio holding and is eager to retain as much of its holding as possible.
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 | ||||
Freddy Crossley / Emma Earl (Corporate Finance) | |||||
Charlie Leigh-Pemberton (Corporate Broking) | |||||
Northland Capital Partners Limited (Joint Corporate Broker) | Tel: +44 (0)20 3861 6625 | ||||
David Hignell (Corporate Finance) | |||||
John Howes (Corporate Broking) | |||||
Walbrook PR | Tel: +44 (0)20 7933 8780 or amphion@walbrookpr.com | ||||
Paul McManus /Helen Cresswell | |||||
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