4 Mar 2016 13:21
4 March 2016
Motive Television PLC
("Motive" or the "Company")
Notice of intention to appoint Administrators - Update
The Company today provides an update, further to the announcement made on 23 February 2016, in which Motive announced that it had filed at court a notice of intention to appoint administrators.
The initial filing provided the Company with a statutory moratorium for a ten-day period ending 3 March 2016. The Company has now filed a further notice of intention to appoint administrators at court today to enable the Company to have the benefit of the statutory moratorium for a further ten-day period.
The Board continues to explore options in order to minimise the financial uncertainty surrounding the Company. A further update will be made as and when developments occur.
The suspension of trading in the Company's shares, as announced on 15 February 2016, remains effective. Should the Company not appoint a replacement nominated adviser by 14 March 2016 the admission of the Company's shares to trading on AIM will be cancelled.
Enquiries:
Motive Television plc T: +44 20 7025 8425
Michael Pilsworth, Chairman
Leonard M. Fertig, CEO