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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 : 2529T
Amphion Innovations PLC
11 October 2017
Amphion Innovations plc
("Amphion" or "the Company")
Related Party Transaction
Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, provides further details on the Deed of Postponement as announced on 29 September 2017 in the Company's interim results.
Certain directors of the Company, being Richard Morgan and Robert Bertoldi (the "Directors"), entered into a Deed of Postponement with the Company on 15 May 2017 where they agreed to postpone the repayment of the amounts owed to them by the Company as at 31 December 2016, which total US$4.3 million, plus any interest which may accrue thereon ("Director Debt") until all other debts of the Company are repaid. Furthermore, the Directors agreed that any amount owed by the Company other than the Director Debt (the "Debt") shall rank for all purposes and at all times ahead of the Director Debt.
Richard Morgan and Robert Bertoldi are directors of the Company and have an interest in approximately 23,642,499 and 6,436,431 Ordinary Shares respectively (representing an interest of approximately 11.39% and 3.10% of the Existing Ordinary Shares respectively). By virtue of Mr Morgan and Mr Bertoldi being directors in addition to Mr Morgan's current interests in the Company, the Directors are considered to be a related party as defined under the AIM Rules. Thus, entering into the Deed of Postponement constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules.
The independent directors, being Richard Mansell-Jones and Miroslaw Izienicki, consider, having consulted with the Company's nominated adviser, Panmure Gordon, that the terms of the Deed of Postponement as entered into by the Company with the Directors are fair and reasonable insofar as the Company's Shareholders are concerned.
For further information please contact:
Amphion Innovations Tel: +1 (212) 210 6224 Charlie Morgan Panmure Gordon Limited (Nominated Tel: +44 (0)20 Adviser and Corporate Broker) 7886 2500 Freddy Crossley / Duncan Monteith (Corporate Finance) Charlie Leigh-Pemberton (Corporate Broking) Northland Capital Partners Tel: +44 (0)20 3861 Limited (Joint Corporate Broker) 6625 Patrick Claridge / David Hignell (Corporate Finance) John Howes (Corporate Broking) Walbrook PR Tel: +44 (0)20 7933 8780 or Mike Wort/ Paul McManus amphion@walbrookpr.com
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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October 11, 2017 02:00 ET (06:00 GMT)
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