26 Oct 2012 07:00
26 October 2012
Motive Television PLC
("Motive", the "Company" or "the Group")
Issue of Equity
Motive Television PLC (AIM: MTV.LN), the digital television technology, software and services provider announces that it has issued, conditional upon admission, 80,371,642 ordinary shares of 0.01p each in the capital of the Company ("Consideration Shares") to Guiseppe Flores D'Arcais to satisfy the deferred consideration due to him under the terms of the Share Purchase Agreement dated 17 September 2012 ("Share Purchase Agreement") to purchase approximately 67.7 per cent. of the issued share capital of Adecq Digital S.L.
Pursuant to a lock-in agreement dated 17 September 2010, Mr Flores D'Arcais agreed that, until the later of 24 months after the date of admission to AIM (which occurred on 15 October 2010) and 12 months after the allotment and issue to him of consideration shares in accordance with the Share Purchase Agreement, he would be restricted from disposing of any interest in Motive securities without consulting with Motive's brokers and effecting such disposal through Motive's brokers in such manner as they require with a view to the maintenance of an orderly market.
Following the above share issue, the total number of Ordinary Shares in issue will be 5,156,966,995. Shareholders may use this number when calculating their percentage holding in the Company.
Application has been made for the 80,371,642 Consideration Shares to be admitted to trading on AIM and dealings are expected to commence on 31 October 2012.
Enquiries:
Motive Television plc Michael Pilsworth, Chairman Leonard M Fertig, CEO
| T: +44 20 7025 8425
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Merchant Securities (Nominated Adviser) Simon Clements / Virginia Bull
| T: +44 20 7628 2200
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XCAP Securities (Joint Broker) Jon Belliss
| T: +44 20 7101 7070
|
Notes to Editors
Motive Television provides software and services to the global television industry, enabling Television Anytime Anywhere™. Motive's patented and proprietary technology platform responds to the heightened viewer demand for watching what they want, when they want, on whatever device they want; and is driven by the mandatory switchover from analogue to digital broadcasting as mandated by the International Telecommunication Union.
Motive Television provides broadcasters and pay television operators with enabling technology that provides opportunities to deliver highly-valued services to viewers that generate additional income and retain existing subscribers, comprising:
Television Anytime. A technology platform that enables digital broadcasters and pay television operators to offer enhanced broadcasting services with or without the need for an Internet connection. These services, include, among others, Video-on-Demand, Catch-Up TV, Virtual Channels, Sneak Preview TV, and Targeted Advertising. Television Anytime is currently in commercial operation in Europe both in digital terrestrial (DTT) and soon in satellite (DTH) environments. Patented in Spain and patent pending in the EU.
Television Anywhere. An advanced multi-screen multi-channel technology that allows a viewer to control and watch all the content received by or recorded in their main home television equipment on any computer, mobile phone, iPad or any other Internet connected device. Television Anywhere is software-based and can be updated via software upgrades on existing STB. US patent pending.
Motive's content division is:
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.
Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).
http://www.motivetelevision.co.uk