19 Mar 2019 14:33
AMPHION INNOVATIONS PLC
("Amphion" or "the Company")
Sale of Partner Company Shares
London and New York, 19 March 2019 - Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces that 3,250,000 shares in Partner Company, Motif Bio have been sold ("Sale") in partial repayment of the loan facility (the "Facility") originally announced on 5 June 2014 and most recently amended as announced on 11 March 2019 ("Amendment Agreement"). Following this Sale, Amphion holds 20,179,611 ordinary shares of Motif Bio, representing 6.78% of the issued share capital.
The Sale generated proceeds of US $240,656. In accordance with the terms of the Amendment Agreement, two thirds of the sale proceeds will be used to reduce the loan balance under the Facility and one third of the remaining proceeds will be returned to the Company to be used for working capital. Further terms of the Amendment Agreement were included in the announcement on 11 March 2019. The loan balance plus accrued interest will become due for repayment on 30 September 2019.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For further information please contact:
Amphion Innovations | Tel: +1 (212) 210 6224 | ||||
Charlie Morgan | |||||
Panmure Gordon Limited (Nominated Adviser and Corporate Broker) | Tel: +44 (0)20 7886 2500 | ||||
Emma Earl/ Freddy Crossley (Corporate Finance) | |||||
Charles Leigh-Pemberton (Corporate Broking) | |||||
SP Angel Corporate Finance LLP (Joint Corporate Broker) | Tel: +44 (0) 20 3470 0470 | ||||
David Hignell (Corporate Finance) | |||||
Vadim Alexandre (Corporate Broking) | |||||
Walbrook PR | Tel: +44 (0)20 7933 8780 or amphion@walbrookpr.com | ||||
Anna Dunphy / Paul McManus | |||||
About Amphion Innovations plc
Amphion Innovations is a developer of medical, life science and technology businesses.
We use our extensive experience in company building to invest and build shareholder value in high growth companies in the US and UK. Amphion has significant shareholding in 7 Partner Companies developing proven technologies targeting substantial commercial marketplaces. The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the Partner Companies. The Partner Companies collectively own or control over 200 separately identified pieces of intellectual property, a number which grows rapidly each year.
On the web: www.amphionplc.com
AMP.L (AMP)