22 Feb 2016 07:00
RNS Number : 6673P
Motive Television PLC
22 February 2016
22 February 2016
Motive Television PLC
("Motive" or the "Company")
Further re. Convertible Loan Notes ("CLNs")
Convertible Loan Notes
On 20 January the Company announced that the largest CLN holder had agreed to vary the terms of the previously announced deal and extend the completion date until 19 February 2016. Consequently, the Company was required to pay £150,000 plus £28,200 in legal fees in cash in order to acquire the £1,393,795 of CLNs held by the largest holder. The Company has been unable to meet this requirement and accordingly the CLNs have not been acquired.
Enquiries:
Motive Television plc Michael Pilsworth, Chairman Leonard M Fertig, CEO
| T: +44 20 7025 8425
|
Beaufort Securities Jon Belliss | T: +44 20 7382 8300 |
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