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14 Oct 2010 13:51
14 October 2010
Motive Television PLC
("Motive" or "the Company")
Further re: Acquisition
Further to the announcement on 17 September 2010 (the "Acquisition Announcement") in relation to the Acquisition, the Subscription and Admission, and to the announcement of the results of the general meeting of the Company dated 4 October 2010, the Company is pleased to announce that all of the conditions to the Acquisition, other than Admission, have now been satisfied or waived. According, admission to trading on AIM is expected to commence at 8.00am on 15 October 2010.
The final condition of the Acquisition (save for Admission) was the entry into loan agreements which has now been waived. Accordingly, the convertible loan notes and Ordinary Shares which will, following Admission, be held by Giuseppe d'Arcais and André Vanyi-Robin have not been pledged to a third party lender, as set out in the Company's admission document dated 17 September 2010. It is however intended that Giuseppe d'Arcais and André Vanyi-Robin will seek to pledge their convertible loan notes and Ordinary Shares to a third party lender in due course. A further announcement will be made at that time.
Terms used in this announcement shall have the meanings given to them in the Acquisition Announcement.
Contact:
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Motive Television plc Mick Pilsworth
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T: 020 3080 9430 |
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Merchant Securities Limited (Nominated Adviser) Simon Clements / Virginia Bull
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T: 020 7628 2200 |
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Hybridan LLP (Joint Broker) Claire Noyce
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T: 020 7947 4350 |
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Jendens Securities Limited (Joint Broker) Jeremy Read / Justine Waldisberg
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T: 0203 372 2586 |
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Bishopsgate Communications Gemma O'Hara / Siobhra Murphy motive@bishopsgatecommunications.com
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T:0 20 7562 3350 |
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