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17 Sep 2008 11:48
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Motive Television Plc (the "Company" or "Motive")
Β
Issue of equity and director's dealing
Issue of Equity
The board announce that the Company has placedΒ 52,000,000Β new ordinary shares atΒ 0.5Β pence per share with clients of its broker, Dowgate Capital Stockbrokers LimitedΒ and Michael Pilsworth, a director of the Company. The placing has raised Β£260,000Β before costs (the "Placing").
The net proceeds of the placing will be usedΒ to provide the Company with additional working capital and potentially fund any cash component of any future acquisitions.
The new ordinary shares will rankΒ pari passuΒ with existing ordinary shares. Application has been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM. Trading in these ordinary shares will commence on or aroundΒ 23Β September 2008.
Subsequent to the Placing the issued share capital of the Company comprisesΒ 342,499,463 ordinary shares of 0.1 pence each.
Director's Dealing
Michael Pilsworth, a director of the CompanyΒ participated in the Placing. Details ofΒ hisΒ purchase and subsequentΒ holdingΒ in the Company areΒ set out below:-
|
Name
|
Number of shares subscribed for in the Placing
|
Number of shares held subsequent to the Placing
|
Interest over issued share capital of the Company
|
|
Β
|
Β
|
Β
|
Β
|
|
Michael Pilsworth
|
2,000,000
|
6,011,904
|
1.6%
|
|
Β
|
Β
|
Β
|
Β
|
Β
Contact
Motive Television plcΒ
Mick Pilsworth, Chairman
Tel:Β 020 7428 2004
Nominated Adviser toΒ Motive Television plc
Dowgate Capital Advisers Limited
Liam Murray,Β Nominated Adviser
Tel: 020 7492 4777
Financial PR to Motive TelevisionΒ plc
Bishopsgate Communications Ltd
Jenni Herbert or Nick Farmer
Tel:Β 020 7562 3350
motive@bishopsgatecommunications.com
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