17 Dec 2015 07:00
17 December 2015
Motive Television PLC
("Motive" or the "Company")
Issue of equity
The Company announces that it has received a Conversion Notice from Bergen Global Opportunity Fund, LP ("Bergen") pursuant to the Convertible Securities Issuance Deed between Motive and Bergen dated 12 May 2014 (the "Deed") to exercise its right to convert £61,400 of existing debt into equity (the "Conversion"). Accordingly, the Company has allotted 372,121,212 ordinary shares of £0.00005 ("Ordinary Shares") at a price of £0.000165 per share to Bergen ("New Ordinary Shares").
Under the terms of the Deed, Bergen has agreed to certain, substantial, limitations on its ability to dispose of the shares following a conversion of the Convertible Securities. Additionally, Bergen does not, and has agreed to cause its affiliates not to, short-sell the Company's Ordinary Shares.
Following the Company meeting its obligations under the Deed in relation to the Conversion, the outstanding nominal amount of the first convertible security will be reduced from £408,355 to £346,955.
The issue is conditional, inter alia, upon admission of the Ordinary Shares to trading on AIM. The shares will rank pari passu with the existing issued Ordinary Shares.
Application will be made for the 372,121,212 shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 23 December 2015. Following the issue of the shares, the Company will have 1,241,352,100 Ordinary Shares in issue.
Motive Television plc Michael Pilsworth, Chairman Leonard M Fertig, CEO
| T: +44 20 7025 8425
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Sanlam Securities UK (Nominated Adviser) Simon Clements / James Thomas
| T: +44 20 7628 2200
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Beaufort Securities Ltd (Company Broker) Jon Belliss
| T: +44 20 7382 8300 |
Newgate Communications Jason Nisse/Stephanie Dobbs
Media PR Europe Gerry Buckland
Brainerd Communicators Chris Plunkett/Mike Smargiassi
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T: +44 20 7680 6559
T: +44 7774 860011
T: +1 212 986 6667
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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:
Content Express™
Today's television viewers are demanding the ability to watch whatever they want when they want it on any screen, and Motive's Content Express™ makes that possible without having to build new networks. Content Express™ software provides secure delivery and management of non-linear digital content across any type of broadcast network to any consumer-facing screen or device. Motive has deployed it in both single and hybrid distribution systems that combine broadband access with traditional distribution for an optimal solution.
Motive's Content Express™ solutions platform provides a one-stop shop for digital terrestrial broadcasters, satellite, DTT cable pay television platforms, and Internet OTT content providers to offer new services including: Video on Demand (VOD and SVOD), Catch-up television, Tablet Television, Targeted advertising for VOD, Mocast for 4G LTE, Virtual channels and Video2Go.
Tablet TV
With a proprietary app and T-Pod antenna-tuner, tablet owners around the globe can watch and record all the programming currently broadcast over digital terrestrial channels. Additionally, Tablet TV subscribers have the ability to download a selection of video-on-demand movies and programmes without the need for Internet access and, when they are connected, use integrated social networking and access anything available over the Internet.
Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).
http://www.motivetelevision.co.uk