Motive Television PLC Result of Meeting of Convertible Loan Note Holders (4576N)
January 29 2016 - 6:16AM
UK Regulatory
TIDMMTV
RNS Number : 4576N
Motive Television PLC
29 January 2016
Motive Television PLC
("Motive" or the "Company")
Result of Voting by the holders of Convertible Loan Notes
("CLNs")
At the meeting of the holders of the CLNs held earlier today,
the CLN holders voted to extend the redemption date of the CLNs
from 31 December 2015 until 31 December 2017.
On 20 January 2016, Motive announced that it had reached
agreement with the largest CLN holder to acquire its GBP1,393,795
of CLNs for GBP150,000 in cash plus a 5-year warrant to acquire 5%
of the Company.
As a result of the decision today and upon payment of the
GBP150,000 to the largest CLN holder, the remaining CLN debt, now
due 31 December 2017 held by CLN holders other than by the Company
will be reduced to GBP1,584,600 from GBP2,978,396 as of 31 December
2015.
Working Capital
As announced previously, Motive's working capital continues to
be tightly managed and Motive continues to rely on the support of
its creditors, staff and of its directors in order to continue to
trade.
Enquiries:
Motive Television plc T: +44 20 7025 8425
Michael Pilsworth, Chairman
Leonard M Fertig, CEO
Sanlam Securities UK (Nominated T: +44 20 7628 2200
Adviser)
Simon Clements / James
Thomas
Beaufort Securities T: +44 20 7382 8300
Jon Belliss
Newgate Communications T: +44 20 7680 6559
Jason Nisse/Andre Hamlyn
Media PR Europe T: +44 7774 860011
Gerry Buckland
Brainerd Communicators T: +1 212 986 6667
Chris Plunkett / Mike Smargiassi
Notes to Editors:
Motive Television was founded in London in 2005 and its shares
are quoted on the London Stock Exchange (AIM).
http://www.motivetelevision.co.uk
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.
TabletTV(TM)
With a proprietary app and TPod 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.
BYOD TV(TM)
Motive's BYOD TV solution provides passengers and crew in
maritime environments with access to video-on-demand movies and
television without needing direct access to the Internet or
broadcast signals. Markets for the platform include operators of
passenger ferries, cruise lines, commercial ships, and oil
platforms among others. In addition, BYOD TV has application for
additional markets including passenger airlines, trains, waiting
lounges, etc.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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