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1 Nov 2013 10:33
1st November 2013
PeerTV PLC
("PeerTV" or the "Company")
Statement re. debt issue in subsidiary
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, wishes to update the market that holders of loan notes in its subsidiary company Digitek SMT Assemblies ("Digitek") have today been sent a letter by Digitek and its Security Agent.
In the letter Digitek and the Security Agent are asking the loan note holders to accept a delay in payment or a payment in shares of PeerTV for an interest payment that is due. The delay in payment has become necessary as a consequence of the recent good performance in winning new orders which has led to increased working capital requirements, putting further stress on cash resources.
The Security Agent has recommended that note holders accept the delay or shares in lieu of cash. Unless note holders do not follow the recommendation, no further announcement regarding this issue will be made.
Further enquiries:
PeerTV Plc
Eitan Yanuv, Chairman +972 974 07315
Libertas Capital Corporate Finance Ltd
Thilo Hoffmann/Sandy Jamieson +44 (0) 203 697 9499
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