Amphion Innovations PLC Sale of Partner Company Shares (3612Y)
August 21 2018 - 2:00AM
UK Regulatory
TIDMAMP
RNS Number : 3612Y
Amphion Innovations PLC
21 August 2018
Amphion Innovations plc
("Amphion" or "the Company")
Sale of Partner Company Shares
London and New York: Amphion Innovations plc (AIM: AMP), the
developer of medical, life science, and technology businesses,
announces that 3,000,000 shares in Partner Company, Motif Bio plc
("Motif"), have been sold directly to an institutional investor at
33.5 pence per share (the "Motif Shares"). Net proceeds of
approximately US $1,273,000 from the sale of the Motif Shares will
be used as partial repayment of the loan facility (the "Facility")
originally announced on 5 June 2014 with the most recent terms
announced on 22 December 2017, as well as ongoing business
operations and development of Amphion's other Partner Companies.
Following this sale, Amphion's holding will represent 8.51% of the
issued share capital of Motif. The Motif Shares had a book value of
US $1,339,166 as at 30 June 2018.
Following repayment, the current loan balance of the Facility
will be US $2,822,642 including fees and accrued interest. The
remaining loan balance will be repaid in 3 monthly installments
from 15 October - 15 December 2018.
The current loan under the Facility continues to be secured by
the pledge of 24,475,591 ordinary shares of Motif Bio plc. Amphion
has transferred the legal title to, but retains the beneficial
interest in, the total pledged shares. Amphion recognises the
intrinsic value of its Motif Bio holding and is eager to retain as
much of its holding as possible.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For further information please contact:
Amphion Innovations Tel: +1 (212) 210 6224
Charlie Morgan
Panmure Gordon Limited (Nominated Adviser Tel: +44 (0)20
and Corporate Broker) 7886 2500
Freddy Crossley / Emma Earl (Corporate
Finance)
Charlie Leigh-Pemberton (Corporate
Broking)
Northland Capital Partners Limited (Joint Tel: +44 (0)20
Corporate Broker) 3861 6625
David Hignell (Corporate Finance)
Rob Rees (Corporate Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or amphion@walbrookpr.com
Anna Dunphy / Paul
McManus
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
a small number of 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.
On the web: www.amphionplc.com
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END
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