Amphion Innovations PLC Restructure of Loan and Additional Drawdown (1523A)

TIDMAMP

RNS Number : 1523A

Amphion Innovations PLC

22 December 2017

AMPHION INNOVATIONS PLC

("Amphion" or "the Company")

Extended Repayment and Additional Draw Down on Loan Facility

London and New York, Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces that the Company has agreed terms for re-structuring the loan payments under the Facility and the draw-down of an additional US $1,550,000 (an "Additional Draw") under the loan facility as announced on 5 June 2014 (the "Facility").

The loan balance under the Facility after the Additional Draw will be US $6,187,786 including fees and accrued interest through the date of close. The loan balance will be repaid in 7 monthly instalments from 15 June - 15 December 2018. Prior to this change the loan balance would have come due on 15 January 2018.

Under the terms of the Additional Draw, the interest rate will be 10%. The Lender will also receive 10% of the appreciation on 12,000,000 ordinary shares of Motif Bio plc above 35 pence. The proceeds are to be used for working capital for Amphion and its Partner Companies.

The current loan under the Facility continues to be secured by the pledge by the Company of 36,371,625 ordinary shares of Motif Bio plc. Amphion has transferred the legal title to, but retains the beneficial interest in, the total pledged shares. The Lender has agreed not to sell any ordinary shares of Motif Bio plc until 15 June 2018 as long as the Company remains in compliance with the terms of the Facility.

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: [phone] 
 Charlie Morgan 
 
 Panmure Gordon Limited (Nominated                     Tel: +44 (0)20 
  Adviser and Corporate Broker)                             7886 2500 
 Freddy Crossley / Ryan McCarthy 
  (Corporate Finance) 
 Charlie Leigh-Pemberton 
  (Corporate Broking) 
 
 Northland Capital Partners                       Tel: [phone] 
  Limited (Joint Corporate Broker)                               6625 
 Patrick Claridge / David 
  Hignell (Corporate Finance) 
 John Howes (Corporate 
  Broking) 
 
 Walbrook PR                                 Tel: [phone] 
                                                                   or 
 Mike Wort/ Paul McManus                       [e-mail] 
 
 
 

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCOKDDPBBDBFBB

(END) Dow Jones Newswires

December 22, 2017 02:00 ET (07:00 GMT)