31 May 2012
Motive, which provides software and services to the global television industry, is pleased to announce an update to its discussions with CCAN 2005 Inversiones Societarias, S.C.R., S.A. De Regimen Simplificado ("CCAN") as announced on 13 April 2012. In relation to the Put and Call Option entered into with CCAN on 15 October 2010, the Company and CCAN had agreed to a standstill until 31 May 2012 pending further discussions.
The Board of Motive is pleased that an agreement in principal has been reached with CCAN regarding the acquisition of CCAN's 32.3 percent interest in Motive Television SL. The execution of this agreement is subject to the approval of CCAN's credit committee which is expected to meet shortly, after which a further announcement will be made.
Leonard M. Fertig, CEO, Commented
"The satisfactory conclusion to these discussions enables us to move ahead rapidly with our ambitious plans. This month alone, we made two announcements which I believe shows us punching above our weight in delivering new products into the huge marketplace available to us.
"We anticipate more exciting commercial news as the year progresses."
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
Nicholas Nelson / Madeline Douglas
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).