15 Nov 2011 07:00
15 November 2011
Motive Television PLC
("Motive" or "the Company")
Redemption of convertible loan notes
Motive Television PLC (AIM: MTV), the digital television technology, software and services provider, announces that it has issued, conditional on admission, 167,665,477 ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares"). The Ordinary Shares have been issued following redemption of £648,592.01, 9 per cent. convertible secured redeemable loan notes 2015 and the associated accrued interest by Andre Vanyi-Robin.
Application has been made for the 167,665,477 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 17 November 2011. Following the issue of these shares, the Company will have 2,548,786,159 Ordinary Shares in issue.
As set out in the Company's admission document dated 17 September 2010, Mr Vanyi-Robin entered into a lock-in agreement in relation to his interests in Ordinary Shares or other securities in the Company beneficially owned or otherwise held or controlled by him.
Pursuant to a lock-in agreement dated 17 September 2010, Mr Vanyi-Robin 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 a share purchase agreement dated 17 September 2010, 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. Motive will enforce the terms of this letter vigorously.
Contacts:
Motive Television plc | |
Michael Pilsworth, Chairman | T: +44 20 7025 8425 |
Leonard M. Fertig, CEO | |
Merchant Securities (Nominated Adviser) | |
Simon Clements / Virginia Bull | T: +44 20 7628 2200 |
XCAP Securities (Broker) | |
Jon Belliss / John Grant | T: +44 20 7101 7070 |
Cubitt Consulting | |
Chris Lane / Alice Coubrough | T: +44 20 7367 5100 |
Media PR | |
Gerry Buckland | T: +44 7774 860 011 |
Brainerd (USA), Mike Smargiassi | T: +1 212 986 6667 |
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, includes, 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 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).