3 Feb 2011 16:13
Motive Television PLC
("Motive Television" or "the Company")
Board Changes and Director Shareholding
Motive Television PLC (AIM: MTV), the digital television technology, software and services provider, is pleased to announce the appointment of Graham Loader as Chief Financial Officer, Group Finance Director and Company Secretary.
Graham Loader has substantial international experience in multinational, multi site blue chip companies and joins Motive Television from Western Union, Global Remittances where he was VP and CFO for the APAC Region. Graham has 25 years experience at senior Director level and a wealth of knowledge in the European as well as Asia-Pacific markets.
Further to the appointment of Graham Loader, Motive Television also announces today the resignation of Alistair King, as part-time Finance Director. As set out in the Company's admission document, dated 17 September 2010, Mr King intended to resign upon the appointment of a full time Finance Director due to his other work commitments. The Board would like to thank Alistair for his commitment and support over the last 6 years.
In addition, the Company announces that it has today issued 2,000,000 Ordinary Shares to Alistair King in satisfaction of certain fees owed to him and 1,700,000 in satisfaction of certain consultants' invoices totalling £17,000. Application has been made for the 3,700,000 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 10 February 2011.
Following the issue of these shares, the Company has a total of 1,229,946,045 Ordinary Shares in issue. The total number of voting rights in the Company is therefore 1,229,946,045.
Commenting on the appointment, Mr Michael Pilsworth, Executive Chairman of Motive Television plc, said: "We announced in our re-admission document that Motive would appoint a full-time Finance Director, and we are delighted to be able to announce the appointment today of Graham Loader to the position of Finance Director and CFO. His extensive global experience will be of great value to us, especially his experience in Central and Eastern Europe and in Asia. Although Alistair King has resigned as part-time finance director he has kindly agreed to offer his services to Motive as a consultant in the future.
The Board would like to place on record their appreciation of his very significant contribution to the Company since 2005 and for agreeing to continue to make his services available as required as we move forward."
Graham Loader said: "This is a great time to be joining such an exciting company as Motive Television, I look forward to the challenges and opportunities that lie ahead and hope to bring my experience in Asia Pacific markets, and Central and Eastern Europe to the Motive team".
Contact:
Motive Television plc Mick Pilsworth
| T: 020 3080 9430 |
Merchant Securities Limited (Nominated Adviser) Simon Clements / Virginia Bull
| T: 020 7628 2200 |
Jendens Securities Limited (Broker) Jeremy Read / Justine Waldisberg
| T: 0203 372 2586 |
Cubitt Consulting Chris Lane / Samantha Boston
| T: 020 7367 5100 |
Under Schedule 2, paragraph (g) of the AIM Rules, the following additional information is disclosed:
During the past five years, Graham Philip Loader, aged 46, has been a director of Western Union Singapore, Western Union Australia, Western Union New Zealand and Western Union Korea.
Graham Loader has confirmed that there is no additional information under Schedule 2, paragraph (g) of the AIM rules that needs to be disclosed.
Notes to Editors
Motive Television provides digital television technology and services globally, enabling TV Anytime, Anywhere. The market is driven by heightened consumer demand coupled with the mandatory switchover from analogue to digital broadcasting which, as mandated by the International Telecommunication Union, will come into full effect by 2015.
Motive Television provides broadcasters with new sources of income and business models and currently operates via three subsidiaries:
·; Adecq Digital S.L ("TV Anytime") is the creator of Bestv, a technology that permits and enables digital terrestrial broadcasters to offer enhanced broadcasting services without the need for the Internet. Broadcasters can earn additional income through these services, including Catch-Up TV, Virtual Channels, Video-on-Demand and Targeted Advertising. Bestv is currently in commercial operation by digital broadcasters in Italy and Spain and successful tests have been carried out in the Czech Republic and Hungary.
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·; NXV Limited ("TV Anywhere") owns NX Vision, an advanced place-changing television technology that allows a viewer to interact, control and watch their Internet-connected home television from a computer, mobile phone, iPad or any other Internet connected device. NX Vision is software orientated, doesn't require an additional box, and can be updated via software upgrades. US patent pending.
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·; Motive Television Limited, a Dublin-based award-winning independent production company that produces factual programmes for Irish broadcasters. It specializes in live sports production and sports documentaries and also produces factual and entertainment series.
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The Group currently operates in Western and Central & Eastern Europe and anticipates initiating services in North and South America in the near future. Motive Television has 27 employees and was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).
http://www.motivetelevision.co.uk/ir/mtv/ir.jsp?page=home