19 Nov 2013 07:00
19 November 2013
Motive Television plc
("Motive" of the "Company")
Issue of equity and purchase of convertible loan notes
The Company refers to its £6,585,264.17 9% convertible secured redeemable loan notes due 31 December 2015 (the "Notes") and announces today that it and its wholly owned subsidiary, MTV Investments Limited, have entered into an agreement (the "Agreement") with one of the holders of the Notes, Moore Blatch LLP (the "Seller") in relation to Notes having a nominal value of £45,117 plus accrued interest of £1,568. Pursuant to the Agreement, the Seller has agreed to: (i) the transfer of its Notes to MTV Investments Limited; and (ii) waive its legal fees of £81,169.21, in consideration for which, the Seller will be issued with 639,270,000 new fully paid ordinary shares in the capital of the Company (the "Consideration Shares").
The Consideration Shares are subject to certain rights and restrictions as further set out in the Agreement, which include an 18 month soft lock-in arrangement, limiting the Seller's disposal of the Consideration Shares to a disposal made through the Company's brokers with a view to maintaining an orderly market in the Company's securities.
Application will be made for the Consideration Shares to be admitted to trading on AIM which is expected to occur on 22 November 2013. Following the issue of the Consideration Shares the Company will have 28,680,713,238 ordinary shares in issue.
Enquiries:
Motive Television plc Michael Pilsworth, Chairman Leonard M Fertig, CEO
| T: +44 20 7025 8425
|
Sanlam Securities UK Limited Simon Clements / Virginia Bull
| T: +44 20 7628 2200 |
XCAP Securities Jon Belliss | T: +44 20 7101 7070 |
Newgate Communications Jason Nisse/Stephanie Dobbs
Media PR Europe Gerry Buckland
Brainerd Communicators Chris Plunkett / Mike Smargiassi
| T: +44 20 7680 6559
T: +44 7774 860011
T: +1 212 986 6667
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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