12 Nov 2007 10:39
Motive Television Plc (the "Company")
Placing and Directors' Dealing
Placing
The board of the Company announce that conditional on shareholder approval at the forthcoming General Meeting of the Company to be held on 22 November 2007, the Company has agreed (through its broker Ellis Stockbrokers Limited) to issue 86,414,285 new ordinary shares at 0.7p per share to raise ‚£604,900 before expenses.
The new ordinary shares will rank pari passu with existing ordinary shares. Application will be made for the new ordinary share to be admitted to trading on AIM, which is expected to occur on or around 23 November 2007.
Michael O'Rourke and Alistair King, both directors of the Company have participated in the placing, further details are set out below.
The proceeds of the placing will be used to provide the Company with additional working capital and with funds to make further investments in joint ventures.
Director's Dealings
Michael O'Rourke, and Alistair King both directors of the Company have participated in the above placing. Subsequent to their participation their interests in the Company are as set out below:-
Name Participation in Interest in Company Percentage holding Placing as at date of this in the enlarged announcement share capital of the Company Michael O'Rourke 14,285,714 23,119,047 11.9% Alistair King 800,000 1,500,000 0.8%
Following the placing the total number of shares in issue in the Company will be 195,020,952 ordinary shares of 0.1 pence nominal value.
ContactMotive Television PLC 020 7766 8445 Mick Pilsworth City Financial Associates Limited 020 7492 4777
Liam Murray
MOTIVE TELEVISION PLC