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Update on Loan Facility

1 Apr 2019 07:00

RNS Number : 5537U
Amphion Innovations PLC
01 April 2019
 

1 April 2019

AMPHION INNOVATIONS PLC

 ("Amphion" or "the Company")

 

Update on Loan Facility

 

London and New York, 1 April 2019 - Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces that, further to the announcement of the 11 March 2019, the Company has pledged its holding of Polarean Imaging plc ("Polarean") as additional security against the loan facility (the "Facility") with the Company's debt provider ("the Lender").

 

The loan amount under the Facility continues to be secured by the Company's pledge of 18,000,591 ordinary shares of Motif Bio plc ("Motif"). Amphion currently holds 18,779,611 ordinary shares of Motif, representing 5.5% of the issued share capital. From 1 April 2019, the loan is also secured by the Company's holding of 18,372,523 shares of Polarean.

 

Currently, the loan balance under the Facility is approximately US $3.65 million (including fees and accrued interest). The loan is repayable on 30 September 2019. Amphion has transferred the legal title to, but retains the beneficial interest in, the total pledged shares in both Motif and Polarean. Following completion of a lock-in period in respect of the Polarean shares held, the Lender has agreed to adhere to the terms of an orderly market agreement for the next 12 months.

 

Under the amended terms of the Facility, the interest rate will remain at 10% per annum. The Lender will also receive 15% of the future appreciation on Amphion's holding of 10,000,000 ordinary shares in Motif, above 10 pence as well as participate in 15% of the appreciation in 10,000,000 ordinary shares of Polarean held by the Company, above 18 pence.

 

The Lender's participation in the appreciation of the Motif and Polarean shares will expire on the earlier of 30 September 2021 or when the Company has sold all of its ordinary shares in Motif and Polarean.

 

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 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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCCKCDBABKDQNB
Date   Source Headline
31st Dec 20191:15 pmRNSAmphion Innovations
31st Dec 201912:36 pmRNSCancellation of trading on AIM
20th Nov 20197:00 amRNSDirectors' Dealings and Business Update
18th Oct 20197:00 amRNSSettlement of loan facility
11th Oct 20197:01 amRNSPolarean notes statement from Amphion Innovations
11th Oct 20197:00 amRNSSale of Partner Company Shares
3rd Oct 20197:00 amRNSSale of Partner Company Shares
25th Sep 20197:00 amRNSAmended Terms on Loan Facility
10th Sep 20194:56 pmRNSSale of Partner Company Shares
9th Aug 20194:14 pmRNSStatement on Amphion Innovations
9th Aug 20194:14 pmRNSDirectorate Change
9th Aug 20193:51 pmRNSSale of Partner Company Shares
1st Jul 20197:30 amRNSSuspension - Amphion Innovations Plc
27th Jun 20193:00 pmRNSAnnual Report and Accounts Update
14th Jun 20199:04 amRNSHolding(s) in Company
12th Jun 20197:00 amRNSLoan facility update
31st May 201910:28 amRNSHolding(s) in Company
20th May 20196:14 pmRNSHolding(s) in Company
1st Apr 20194:40 pmRNSSecond Price Monitoring Extn
1st Apr 20194:35 pmRNSPrice Monitoring Extension
1st Apr 20197:00 amRNSUpdate on Loan Facility
20th Mar 20197:00 amRNSHolding(s) in Company
19th Mar 20192:33 pmRNSSale of Partner Company Shares
18th Mar 20192:00 pmRNSPrice Monitoring Extension
15th Mar 20197:01 amRNSHolding(s) in Company
15th Mar 20197:00 amRNSSale of Partner Company Shares
11th Mar 20194:41 pmRNSAmended Terms on Loan Facility
26th Feb 20197:00 amRNSConvertible Promissory Note Extended
14th Feb 20198:00 amRNSStatement re. Motif Bio plc
7th Feb 20199:40 amRNSStmnt re Share Price Movement
1st Feb 20197:00 amRNSAppointment of Joint Broker
21st Jan 20197:00 amRNSWellGen Finalises License Agreement
11th Dec 20187:05 amRNSInvestment in Polarean & Loan Facility Repayment
16th Oct 20187:00 amRNSExtended Repayment and Draw Down on Loan Facility
28th Sep 20187:00 amRNSHalf-year Report
5th Sep 20187:00 amRNSBoard Change
23rd Aug 20183:20 pmRNSPolarean update
21st Aug 20187:15 amRNSMotif Bio notes statement from Amphion Innovations
21st Aug 20187:00 amRNSSale of Partner Company Shares
1st Aug 20184:47 pmRNSResult of AGM
29th Jun 20187:00 amRNSDirectorate Change
26th Jun 20187:00 amRNSFinal Results
23rd May 20187:00 amRNSMotif Bio notes statement from Amphion Innovations
23rd May 20187:00 amRNSSale of Partner Company Shares
20th Apr 20187:00 amRNSDirectorate Change
29th Mar 20187:00 amRNSAIM Admission & First Day of Dealings
29th Mar 20187:00 amRNSUpdate on Polarean Imaging IPO
26th Mar 20187:31 amRNSUpdate on Polarean Imaging proposed AIM IPO
2nd Mar 20187:00 amRNSConvertible promissory note extended to December
10th Jan 20185:09 pmRNSDirector dealing

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