Motive Television PLC Result of Meeting of Convertible Loan Note Holders (4576N)

TIDMMTV

RNS Number : 4576N

Motive Television PLC

29 January 2016

Motive Television PLC

("Motive" or the "Company")

Result of Voting by the holders of Convertible Loan Notes ("CLNs")

At the meeting of the holders of the CLNs held earlier today, the CLN holders voted to extend the redemption date of the CLNs from 31 December 2015 until 31 December 2017.

On 20 January 2016, Motive announced that it had reached agreement with the largest CLN holder to acquire its GBP1,393,795 of CLNs for GBP150,000 in cash plus a 5-year warrant to acquire 5% of the Company.

As a result of the decision today and upon payment of the GBP150,000 to the largest CLN holder, the remaining CLN debt, now due 31 December 2017 held by CLN holders other than by the Company will be reduced to GBP1,584,600 from GBP2,978,396 as of 31 December 2015.

Working Capital

As announced previously, Motive's working capital continues to be tightly managed and Motive continues to rely on the support of its creditors, staff and of its directors in order to continue to trade.

Enquiries:

 
 Motive Television plc               T: [phone] 
  Michael Pilsworth, Chairman 
  Leonard M Fertig, CEO 
 Sanlam Securities UK (Nominated     T: [phone] 
  Adviser) 
  Simon Clements / James 
  Thomas 
 Beaufort Securities                 T: [phone] 
  Jon Belliss 
 Newgate Communications              T: [phone] 
  Jason Nisse/Andre Hamlyn 
 Media PR Europe                     T: [phone] 
  Gerry Buckland 
 Brainerd Communicators              T: [phone] 
  Chris Plunkett / Mike Smargiassi 
 

Notes to Editors:

Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).

http://www.motivetelevision.co.uk

Motive Television provides broadcasters and pay television operators with enabling technology that provides opportunities to deliver highly valued services to viewers that generate additional income and retain existing subscribers, comprising:

Content Express(TM)

Today's television viewers are demanding the ability to watch whatever they want when they want it on any screen, and Motive's Content Express(TM) makes that possible without having to build new networks. Content Express(TM) software provides secure delivery and management of non-linear digital content across any type of broadcast network to any consumer-facing screen or device. Motive has deployed it in both single and hybrid distribution systems that combine broadband access with traditional distribution for an optimal solution.

Motive's Content Express(TM) solutions platform provides a one-stop shop for digital terrestrial broadcasters, satellite, DTT cable pay television platforms, and Internet OTT content providers to offer new services including: Video on Demand (VOD and SVOD), Catch-up television, Tablet Television, Targeted advertising for VOD, Mocast for 4G LTE, Virtual channels and Video2Go.

TabletTV(TM)

With a proprietary app and TPod antenna-tuner, tablet owners around the globe can watch and record all the programming currently broadcast over digital terrestrial channels. Additionally, Tablet TV subscribers have the ability to download a selection of video-on-demand movies and programmes without the need for Internet access and, when they are connected, use integrated social networking and access anything available over the Internet.

BYOD TV(TM)

Motive's BYOD TV solution provides passengers and crew in maritime environments with access to video-on-demand movies and television without needing direct access to the Internet or broadcast signals. Markets for the platform include operators of passenger ferries, cruise lines, commercial ships, and oil platforms among others. In addition, BYOD TV has application for additional markets including passenger airlines, trains, waiting lounges, etc.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 29, 2016 06:16 ET (11:16 GMT)