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9 Dec 2010 07:00
Motive Television plc
("Motive" or "the Company")
Pre-Close Trading Update
Motive Television PLC, the digital television technology, software and services provider, is pleased to announce that, since the first half results announcement, significant progress has been made integrating into the group the two acquisitions previously announced, Adecq Digital S.L. ("Adecq", trading as Bestv), and NXV Limited ("NXV").
During the nine months to 30 September 2010 Adecq's total sales were €707,000, compared with €260,000 in the same period in 2009, an increase of 172%. This was in line with management expectations following the successful installation of Bestv's on-demand software for Mediaset in the early part of the year.
As previously announced Adecq has now signed a second major supply agreement, anticipated to be worth approximately US$1.1m (£685,782) in first year revenues, with one of Europe's leading television satellite equipment providers. Work on this contract has commenced and is progressing in line with plans. The pilot tests at Nova TV in Prague for CME, and at Antenna Hungaria in Budapest for TDF, have both been concluded and have successfully met technical and stability requirements. These broadcasters are now discussing commercial applications with Motive. Discussions are also proceeding with a number of other European, Central European and Latin American broadcasters and development of the technology for the US market (using the ATSC standard) is progressing.
NXV's "TV Anywhere"* NX Vision technology is now being updated to accommodate recent changes in the mobile "pad" and "tablet" marketplaces and demonstrations are planned with a number of broadcasters as well as former clients of the predecessor company. There is a good fit between Bestv and NX Vision in households with Hybrid DTT & Internet television delivery. The Board is confident that this combination of place-changing and time-shifting technologies position Motive as a solution provider that can offer TV Anywhere, anytime to the industry.
The Board is expecting to announce preliminary results for the year ended 31 December 2010 in April 2011.
Commenting on the trading update, Mr. Michael Pilsworth, Executive Chairman of Motive Television plc, said:
"The Company has made solid progress over the past few months with the integration of Bestv and NXV proceeding well and in line with management expectations. We are pleased with the performance of both businesses, which are attracting high levels of interest from broadcasters, and we are confident of the Company's future prospects."
Contact:
Motive Television plc Mick Pilsworth
| T: 020 3080 9430 |
Merchant Securities (Nominated Adviser) Simon Clements / Virginia Bull
| T: 020 7628 2200 |
Jendens Securities Limited Jeremy Read / Justine Waldisberg
| T: 0203 372 2586 |
Cubitt Consulting Chris Lane / Samantha Boston
| T: 020 7367 5100 |
Notes to Editors
Motive Television provides digital television technology and services globally. The market is driven by the mandatory switchover from analogue to digital broadcasting which, as mandated by the International Telecommunication Union, will come into full effect by 2015.
Motive Television provides broadcasters with new sources of income and business models and currently operates via three subsidiaries:
·; Adecq Digital S.L. is the creator of Bestv®, a technology that permits and enables digital terrestrial broadcasters to offer enhanced broadcasting services without the need for the Internet. Broadcasters can earn additional income through these services, including Catch-Up TV, Virtual Channels, Video-on-Demand and Targeted Advertising. Bestv® is currently in commercial operation by digital broadcasters in Italy and Spain and is being tested in the Czech Republic and Hungary.
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·; NXV Limited owns NX Vision, an advanced place-changing television technology that allows a viewer to interact, control and watch their Internet-connected home television from a computer, mobile phone, iPad or any other Internet connected device. NX Vision is software orientated, doesn't require an additional box, and can be updated via software upgrades.
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·; 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.
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The Group has 27 employees and operates across Western Europe and Central & Eastern Europe. Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).
http://www.motivetelevision.co.uk/ir/mtv/ir.jsp?page=home
*'TV Anywhere' refers to the viewing of TV content on any device. NX Vision is NXV's technology for broadcasters that allows set-top box users to access their internet-connected set-top box content and functionality from anywhere, on any device, including, for example, I-phones, I-pads, mobiles etc.
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