Motive Television PLC Issue of Equity (4446O)

TIDMMTV

RNS Number : 4446O

Motive Television PLC

09 February 2016

9 February 2016

Motive Television PLC

("Motive" or the "Company")

Issue of equity

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 GBP60,190 of existing debt into equity (the "Conversion"). Accordingly, the Company has allotted 1,203,800,000 ordinary shares of GBP0.00005 ("Ordinary Shares") at a price of GBP0.00005 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 to cause its affiliates not to, short-sell the Company's Ordinary Shares.

Following the Company meeting its obligations under the Deed in relation to the Conversion, the outstanding nominal amount of the first convertible security will be reduced from GBP346,955 to GBP239,355.

The issue is conditional, inter alia, upon admission of the Ordinary Shares to trading on AIM. The shares will rank pari passu with the existing issued Ordinary Shares.

Application will be made for the 1,203,800,000 shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 12 February 2016. Following the issue of the shares, the Company will have 4,039,596,544 Ordinary Shares in issue.

 
Motive Television plc                     T: [phone] 
 Michael Pilsworth, Chairman               8425 
 Leonard M Fertig, CEO 
Sanlam Securities UK (Nominated Adviser)  T: [phone] 
 Simon Clements / James Thomas             2200 
Beaufort Securities Ltd (Company Broker)  T: [phone] 
 Jon Belliss                               8300 
 
  Media PR Europe 
  Gerry Buckland                             T: [phone] 
 
  Brainerd Communicators 
  Chris Plunkett/Mike Smargiassi             T: +1 212 986 
                                             6667 
 

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 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

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February 09, 2016 02:00 ET (07:00 GMT)