12 March 2012
Motive Television PLC (AIM: MTV), the digital television technology, software and services provider, is pleased to announce that, to satisfy demand from institutional investors, it has completed a placing of 366,666,667 new ordinary shares of 0.1 pence each at a price of 0.15p per share ("Placing Shares"), with an aggregate value of approximately £550,000 before expenses. The placing was undertaken by XCAP Securities plc. The additional funds will be used to fund the Company's growth in global markets and to provide working capital.
The placing is conditional upon admission of the Placing Shares to trading on AIM. Application will be made for the Placing Shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 16 March 2012. Following the issue of the Placing Shares, the Company will have 3,102,268,430 ordinary shares in issue.
The Company is also pleased to report that it has commenced pre-launch testing of its TV-Anytime technology at Digiturk, the leading Turkish satellite broadcaster, which represents the culmination of 18 months of development and will lead to the first-ever launch of TV-Anytime on a satellite platform. The successful deployment of the TV-Anytime service will provide Digiturk's subscribers with Video-On-Demand in HD and 3D as well as other new features.
Motive Television continues to receive wide international interest in its Broadcast Cloud joint venture with Granite Broadcasting in the USA, and remains confident of the future implementation of its technology with CME, the leading east European broadcaster.
Commenting on the placing and update, Leonard M. Fertig, CEO of Motive Television plc, said: "We are pleased to have completed this placing with new and existing institutional investors which demonstrates continued confidence in our progress and future profitability.
"The start of pre-launch testing at Digiturk follows an extensive development period in which our unique technology has proven robust and successful. The Group continues to generate significant interest both in Europe and in the United States and we look forward to updating shareholders on our continued progress in the near future."
Motive Television plc
Michael Pilsworth, Chairman
Leonard M. Fertig, CEO
T: +44 20 7025 8425
Merchant Securities (Nominated Adviser)
Simon Clements / Virginia Bull
T: +44 20 7628 2200
XCAP Securities (Joint Broker)
T: +44 20 7101 7070
First Columbus LLP (Joint Broker)
Chris Crawford/Kelly Gardiner
T: +44 20 3002 2070
T: +44 20 7367 5100
Chris Plunkett / Mike Smargiassi
T: +1 212 986 6667
T: +44 7774 860011
Notes to Editors
Motive Television provides software and services to the global television industry, enabling Television Anytime Anywhere. Motive's patented and proprietary technology platform responds to the heightened viewer demand for watching what they want, when they want, on whatever device they want; and is driven by the mandatory switchover from analogue to digital broadcasting as mandated by the International Telecommunication Union.
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:
Television Anytime. A technology platform that enables digital broadcasters and pay television operators to offer enhanced broadcasting services with or without the need for an Internet connection. These services, include, among others, Video-on-Demand, Catch-Up TV, Virtual Channels, Sneak Preview TV, and Targeted Advertising. Television Anytime is currently in commercial operation in Europe both in digital terrestrial (DTT) and soon in satellite (DTH) environments. Patented in Spain and patent pending in the EU.
Television Anywhere. An advanced multi-screen multi-channel technology that allows a viewer to control and watch all the content received by or recorded in their main home television equipment on any computer, mobile phone, iPad or any other Internet connected device. Television Anywhere is software-based and can be updated via software upgrades on existing STB. US patent pending.
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).