6 Jan 2011 07:00
Motive Television PLC
("Motive" or "the Company")
Redemption of convertible loan notes
Motive Television PLC (AIM: MTV), the digital television technology, software and services provider, announces that it has issued, conditional on admission, 18,998,449 ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares"). The Ordinary Shares have been issued following receipt of a number of redemption notices of 9 per cent. convertible secured redeemable loan notes 2015 which amount to, in aggregate, £75,281.26 together with the associated accrued interest amounting to, in aggregate, £1,652.06.
Application has been made for the 18,998,449 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 12 January 2011. Following the issue of these shares, the Company will have 1,226,246,045 Ordinary Shares in issue.
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 (Broker) 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