30 Nov 2017 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.
30 November 2017
Falcon Media House Limited
("Falcon", the "Group" or the "Company")
Convertible Loan Note closed
Falcon Media House (LSE:FAL), the global digital media group focused on the over-the-top ('OTT') market, today announces that the £10 million convertible loan note has been closed.
As announced on 17 October 2017, £3.4 million the convertible loan notes were issued by the Company and the capacity remained to raise up to further funds with the same instrument.
With the effects of the strategy update starting to flow through to the Company's cash balances the Board believe there is no longer a requirement to maintain the capacity for further issuance of the convertible loan note and has therefore decided to formally close it at the £3.4 million already issued.
Gert Rieder, Chief Executive Falcon Media House, commented, "We believe that closing the convertible loan note at the current level of issuance demonstrates our confidence in the company's financial position."
**ENDS**
For more information visit www.falconmediahouse.com or enquire to:
Falcon Media House Limited Gert Rieder |
info@falconmediahouse.com |
About Falcon Media House
Falcon Media House (LSE:FAL) is a global digital media group, powering the new paradigm in media entertainment for intelligent streaming of live and on-demand video. Its goal is to create an ecosystem where great technology meets great entertainment and delivering the right audience. The Group is capitalising on explosive demand for digital video, streamed "live" and "on-demand", known as the Over-The-Top (OTT) video streaming market. Falcon Media House focuses on Technology, particularly Quiptel's innovative patented software enabling "intelligent streaming" on any network to any device, bridging the "last mile" while dramatically improving Quality of Service (QoS) and Quality of Experience (QoE), and Media that provides brands, creators and rights-holders with exclusive and unique content for a global audience.