4 Feb 2013 07:00
Motive Television PLC
4 February 2013
MOTIVE TELEVISION PLC
("Motive" or the "Group")
Issue of Equity, Share Options and Re-Pricing of Warrants
The Company announces that on 1 February 2013 it issued, conditional on admission, 52,534,740 Ordinary Shares in the capital of the Company to Giuseppe Flores d'Arcais in satisfaction of the payment to him of earn-out consideration as set out in the Company's Admission Document dated 17 September 2010. The consideration payable was approximately £17,600, satisfied by the issue of Ordinary shares priced at the closing price on 31 January 2013 (0.0335 pence). The Company also issued, conditional on Admission, 10,000,000 shares to certain consultants to the company to satisfy contractual commitments.
Application will be made for the 62,534,740 new ordinary shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 8 February 2013. Following the issue of the shares, the Company will have 5,650,004,660 ordinary shares in issue.
Additionally, the Company has awarded share options under the Company's Unapproved Share Option Scheme to directors as follows:
Name | Title | No. of Options | Vesting |
M J Pilsworth | Executive Chairman | 30,000,000 | On 1 February 2014 |
L M Fertig | Chief Executive Officer | 30,000,000 | On 1 February 2014 |
P Cuatrecasas | Non-Executive Director | 20,000,000 | On 1 February 2014 |
B Foss | Non-Executive Director | 20,000,000 | On 1 February 2014 |
D Kaza | Non-Executive Director | 20,000,000 | On 1 February 2014 |
All of the Options have an exercise price of 0.03 pence per share.
The Company also re-priced Warrants for the executive directors on 1 February 2013 as follows:
L M Fertig: Warrants over 171,932,940 shares at 0.31 pence per share have been re-priced to 0.03 pence per share
Michael Pilsworth: Warrants over 111,749,964 shares at 0.62 pence per share have been re-priced to 0.03 pence per share.
Contacts:
Motive Television plc Michael Pilsworth, Chairman Leonard M. Fertig, CEO
| T: +44 20 7025 8425 |
Merchant Securities (Nominated Adviser) Virginia Bull / Simon Clements
| T: +44 20 7628 2200 |
XCAP Securities (Joint Broker) Jon Belliss
| T: +44 20 7101 7070 |
Newgate Communications (Financial PR) Jason Nissé | T: +44 20 7680 6559 T: +44 7769 688 618
|
Brainerd Communicators Chris Plunkett / Mike Smargiassi
| T: +1 212 986 6667 |
Media PR Gerry Buckland | T: +44 7774 860 011
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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/ir/mtv/ir.jsp?page=home