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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Motive Tv | LSE:MTV | London | Ordinary Share | GB00BZ56DX12 | ORD 0.005P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00225 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMTV
RNS Number : 2297U
Motive Television PLC
28 July 2015
28 July 2015
Motive Television PLC
("Motive" or the "Company")
Issue of equity and amendment of deed
The Company announces that it has received a Conversion Notice from Bergen Global Opportunity Fund, LP ("Bergen") pursuant to the Convertible Securities Issuance Deed between Motive and Bergen dated 12 May 2014 (the "Deed") to exercise its right to convert GBP280,000 of existing debt into equity (the "Conversion"). Accordingly, the Company has allotted 3,733,333,333 ordinary shares of GBP0.00005 ("Ordinary Shares") at a price of GBP0.000075 per share to Bergen ("New Ordinary Shares").
Under the terms of the Deed, Bergen has agreed to certain, substantial, limitations on its ability to dispose of the shares following a conversion of the Convertible Securities. Additionally, Bergen does not, and has agreed not to, and to cause its affiliates not to, short-sell the Company's Ordinary Shares.
The Company has also entered into a deed of amendment in relation to the Deed. Under the amendment, the currently outstanding nominal amount of the first convertible security previously issued under the Deed has been amended from GBP641,838 to GBP756,534 (and shall be GBP476,534 following the Company meeting its obligations under the Deed in relation to the Conversion), in consideration of Bergen foregoing certain rights under the Deed.
All the other terms of the Deed remain as previously announced.
The issue is conditional, inter alia, upon admission of the 3,733,333,333 Ordinary Shares to trading on AIM. The shares will rank pari passu with the existing issued Ordinary Shares.
Application will be made for the shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 31 July 2015. Following the issue of the shares, the Company will have 22,256,422,122 Ordinary Shares in issue.
Motive Television T: +44 20 7025 plc 8425 Michael Pilsworth, Chairman Leonard M Fertig, CEO Sanlam Securities T: +44 20 7628 UK (Nominated Adviser) 2200 Simon Clements / James Thomas Beaufort Securities T: +44 20 7382 Ltd (Company Broker) 8300 Jon Belliss Newgate Communications T: +44 20 7680 Jason Nisse/Stephanie 6559 Dobbs T: +44 7774 Media PR Europe 860011 Gerry Buckland T: +1 212 986 Brainerd Communicators 6667 Chris Plunkett/Mike Smargiassi
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.
Tablet TV
With a proprietary app and T-Pod 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.
Motive's content division is:
Motive Television Limited, a Dublin-based award-winning independent production company that produces factual programmes for Irish broadcasters. It specializes in live sports production and sports documentaries and also produces factual and entertainment series.
Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).
http://www.motivetelevision.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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