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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Amphion Innovations Plc | LSE:AMP | London | Ordinary Share | GB00B0DJNP99 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.15 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAMP
RNS Number : 7942K
Amphion Innovations PLC
05 January 2016
Amphion Innovations plc
("Amphion" or "the Company")
Convertible Promissory Note and Macaleer Promissory Note Terms Extended
London and New York, 5 January 2016 - Amphion Innovations plc (LSE: AMP) ("Amphion" or the "Company"), the developer of medical and technology businesses, announces that a meeting of the holders of the Company's Unsecured Convertible Promissory Notes 2008-2015 ("Notes", and the "Note Holders") was held on 30 December 2015. A quorum of the Note Holders was present in person or by proxy at the meeting. After due consideration, it was resolved by a large majority of the Note Holders that the terms of the Notes be amended such that the due date for settlement be 28 February 2016 rather than 31 December 2015. Discussions with the Note Holders about a longer-term resolution are expected to be concluded by the end of February 2016.
The Company also announces that it has agreed, in principle, to replace the $3,308,600 of Notes payable to R. James Macaleer, the former Chairman of the Company, and the $3,300,000 of Notes payable to the RJM Amphion Trust, a trust set up for the benefit of Mr. Macaleer's children, with the issue of promissory notes that will now mature on 31 December 2016 from 31 December 2015 ("New Notes"). The rate of interest on the New Notes will remain unchanged at 7%. The New Notes also contain certain provisions for early repayment. In no case will any payment be made on the New Notes until the amounts outstanding under the Company's existing loan facility (as initially announced on 5 June 2014, the "Facility") are fully repaid. The final payment under the Facility is currently scheduled for 1 November 2016.
For further information please contact:
Amphion Innovations
Charlie Morgan
+1 212 210 6224
Yellow Jersey PR
Charles Goodwin / Dominic Barretto
+44 (0)7747 788 221
Panmure Gordon Limited (Nominated Adviser and Corporate Broker)
Freddy Crossley / Duncan Monteith (Corporate Finance)
Charlie Leigh-Pemberton (Corporate Broking)
+44 (0)20 7886 2500
Northland Capital Partners Limited (Joint Corporate Broker)
Patrick Claridge / David Hignell (Corporate Finance)
John Howes / Mark Treharne (Corporate Broking)
+44 (0)20 7382 1100
Plumtree Capital Limited (Financial Adviser)
Stephen Austin
+44 (0)20 7183 2493
+646 568 7502
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
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January 05, 2016 02:00 ET (07:00 GMT)
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