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20 Oct 2015 15:21
20 October 2015
PeerTV plc
("PeerTV" or the "Company")
Drawdown under SEDA Facility
The Board of PeerTV (AIM: PTV), a provider of technology solutions for the OTT (TV over the internet) market, and PCB (printed circuit board) production solutions has today issued an Advance Notice to draw down a further tranche of £89,000 under the terms of the Standard Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ("YA") dated 28 July 2014.
The proceeds of the drawdown will be used to provide the Company with additional working capital.
Under the terms, new Ordinary Shares will be issued at an agreed discount of 7% to the prevailing market price (based on the lowest daily Volume Weighted Average Price during the 10 dealing day pricing period) which commenced on October 19 2015. In addition, a 3% fee is deductible from the net advance under the drawdown.
The ten day pricing period is scheduled to finish on 30th October 2015 and accordingly the Company will issue such number of shares necessary to satisfy the drawdown under the SEDA Facility during the week ending 6th November 2015.
Further enquiries:
PeerTV Plc
Eitan Yanuv, Chairman
Tel: +972 974 07315
ZAI Corporate Finance Limited
Tim Cofman / Richard Morrison
Tel: +44 20 7060 2220
Daniel Stewart & Company plc
David Coffman
Tel: +44 207 7766550
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