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Motive Television Plc Announces Issue Of equity


Friday, 31 May 2013 02:00am EDT 

Motive Television Plc announced that, in response to continuing interest from investors in the Company's recent announcements relating to the Company's development of its Tablet TV solution for the UK Freeview platform and the commercial deployment of Motive's Television Anytime Anywhere technology at Digiturk, it has conditionally raised, through XCAP Securities plc, an additional GBP638,755.78 through the proposed issue of 4,258,371,867 new ordinary shares of 0.01 pence each at 0.015 pence per share. The proceeds will be used to repay debt thereby improving monthly cash burn significantly and move the Company closer to monthly cash breakeven and provide funding for the acquisition of the remainder of Motive Television SL following resolution of the legal dispute with CCAN. In addition, the Company has issued, conditional on admission, 241,628,133 new ordinary shares of 0.01 pence each at 0.015 pence per share in satisfaction of GBP36,244.22 of accrued interest for the period from January 1, 2013 to June 30, 2013 payable in respect of some of the convertible loan notes (CLNs) issued at the time of the Company's admission to trading on AIM on October 15, 2010. 

Company Quote

0.017
-0.0015 -8.11%
21 Jul 2014