25 Sep 2017 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 4,390,000 shares in Partner Company, Motif Bio have been sold in partial repayment of the loan facility (the "Facility") originally announced on 5 June 2014. Following this sale, Amphion holds 37,150,645 ordinary shares of Motif Bio, representing 14.1% of the issued share capital.
Up to June 2017, Amphion has drawn down US $6.149 million under the Facility (of which US $4.3 million is currently outstanding), using certain assets of Amphion as collateral. This capital has been used to support the development of the other Partner Companies which the Directors believe will in turn enhance the asset value of Amphion. The Facility was due for final payment by December 2017, with a series of monthly stage payments. Amphion recognises the intrinsic value of its Motif Bio holding and in order to protect against a further sales of shares it has been in negotiation with a number of finance providers to seek an alternative resolution which will not result in any further reduction of its holding in Motif Bio.
We are therefore pleased to be able to announce that, as a part of those negotiations, we have agreed with the current loan provider that the sale of the Motif Bio shares today will be the last until 15 January 2018. In addition, we can confirm that we are already in negotiations regarding alternative longer term financing strategies and will update shareholders in due course.
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 / Duncan Monteith (Corporate Finance) | |||||
Charlie Leigh-Pemberton (Corporate Broking) | |||||
Northland Capital Partners Limited (Joint Corporate Broker) | Tel: +44 (0)20 3861 6625 | ||||
Patrick Claridge / David Hignell (Corporate Finance) | |||||
John Howes (Corporate Broking) | |||||
Walbrook PR | Tel: +44 (0)20 7933 8780 or amphion@walbrookpr.com | ||||
Mike Wort/ 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