18 Oct 2019 07:00
AMPHION INNOVATIONS PLC
("Amphion" or "the Company")
Settlement of Loan Facility
London and New York, 18 October 2019 - Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces that further to the sale of Amphion's total holding of 15,972,523 shares in Polarean Imaging plc ("Polarean") which was announced on 11 October 2019 ("Sale"), the Lender of the Facility has subsequently confirmed to Amphion that the total net proceeds arising from the Sale were US $2.6 million. The Lender has also confirmed that in accordance with the terms of the Facility, substantially all of the net Sale proceeds were applied by the Lender to repayment of the Facility and following the Sale, the loan Facility has been settled and there are no outstanding obligations to the Lender.
Amphion remains highly cash constrained. Further to the Company's announcement on 27 June 2019, the Company's shares remaining suspended from trading on AIM.
Other than as defined above, capitalised terms are as set out in the Company's announcement dated 11 October 2019.
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 | ||||
Emma Earl/ Freddy Crossley (Corporate Finance) | |||||
Charles Leigh-Pemberton (Corporate Broking) | |||||
SP Angel Corporate Finance LLP (Joint Corporate Broker) | Tel: +44 (0) 20 3470 0470 | ||||
David Hignell (Corporate Finance) | |||||
Vadim Alexandre (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 few 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