21 Aug 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 3,000,000 shares in Partner Company, Motif Bio plc ("Motif"), have been sold directly to an institutional investor at 33.5 pence per share (the "Motif Shares"). Net proceeds of approximately US $1,273,000 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 8.51% of the issued share capital of Motif. The Motif Shares had a book value of US $1,339,166 as at 30 June 2018.
Following repayment, the current loan balance of the Facility will be US $2,822,642 including fees and accrued interest. The remaining loan balance will be repaid in 3 monthly installments from 15 October - 15 December 2018.
The current loan under the Facility continues to be secured by the pledge of 24,475,591 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) | |||||
Rob Rees (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 a small number of 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.
On the web: www.amphionplc.com