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Proposed Reorganisation of the Company's Share Capital - Adjournment of EGM
The Company has today posted a circular to shareholders which includes the following extract

12 June 2012
The Company has today posted a circular to shareholders which includes the following extract:
Further to the dispatch of the shareholder circular and notice of general meeting dated 28 May 2012 and following the return of the proxy forms, indications are that the company will not receive sufficient votes for all resolutions, proposed at the forthcoming general meeting, to be passed. The resolution that is at risk relates to the proposed consolidation of the Existing Ordinary Shares into new ordinary shares of 1p each.
After canvassing opinion from its institutional shareholders, the Company now believes that an alternative solution to the share consolidation, which provides an acceptable outcome, is a simple split of the Existing Ordinary Shares into one New Ordinary Share and one New Deferred Share. Furthermore, the Company believes that this action would receive significant support from shareholders.
Accordingly, the board is proposing to adjourn the general meeting scheduled to take place on 14 June 2012 and convene a new general meeting at 3pm on 29 June 2012, at which it is proposed to: 
sub-divide each Existing Deferred Share into 10 New Deferred Shares; and sub-divide and convert each Existing Ordinary Share into one New Ordinary Share and one New Deferred Share.
The New Ordinary Shares will have the same rights (including as to voting, dividends and return of capital) as the Existing Ordinary Shares. The rights attaching to the New Deferred Shares will be identical to those attaching to the Existing Deferred Shares, are set out in the articles of association of the Company and are minimal. The New Deferred Shares are effectively valueless as they will not carry any rights to vote or dividend rights and they will only be entitled to a payment on a return of capital or on a winding up of the Company after each New Ordinary Share has received a payment of £1,000,000. The New Deferred Shares will not be listed or traded on AIM and will not be transferable without the written consent of the Company. No certificates will be issued in respect of the New Deferred Shares. 
The reorganisation of the Company's share capital will not of itself affect the value of individual shareholdings, as can be seen from the worked example below:
Existing Ordinary Shares held prior to Capital Reorganisation 10,000
Current market price per Ordinary Share 0.1p
Current value of shareholding £10
Number of New Ordinary Shares held following Capital Reorganisation 10,000
Market price per New Ordinary Share immediately following Capital Reorganisation 0.1p
Value of New Ordinary shareholding £10
Number of New Deferred Shares held following Capital Reorganisation 10,000
Market price of New Deferred shareholding immediately following Capital Reorganisation £nil
By effecting the reorganisation in this way, the nominal value of the Company's issued share capital remains the same. In the example above, the 10,000 Existing Ordinary Shares each have a nominal value of 0.1p giving a total nominal value for the holding of £10. The New Ordinary Shares have a nominal value of 0.01p (£1 in aggregate) which when added to the aggregate nominal value of the New Deferred Shares (£9) means that the nominal value of the holding remains at £10.
Options, Warrants and Convertible Loan Notes
The Options, the Warrants, the Convertible Loan Notes and the rights of their respective holders will not be affected by the Capital Reorganisation.  Such holders will still able to exercise their rights under the Options, the Warrants and the Convertible Loan Notes, save that such Options and Warrants and the conversion rights in respect of such Convertible Loan Notes shall each be for the equivalent number of New Ordinary Shares.

A notice convening the GM to be held at Merchant Securities Limited, 51-55 Gresham Street, London EC2V 7EL at 3pm on 29 June 2012 is set out at the end of this document. At the GM, the following Resolutions will be proposed:
  • ordinary resolution to sub-divide each Existing Deferred Share into 10 New Deferred Shares;
  • special resolution to approve the Capital Reorganisation; and
  • special resolution  to alter the articles of association of the Company in consequence of the capital structure changes made pursuant to the Capital Reorganisation.

The definitions used in this announcement are the same as those used in the shareholders circular.        

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)
Jon Belliss 
T: +44 20 7101 7070

First Columbus LLP (Joint Broker)
Chris Crawford / Kelly Gardiner
T: +44 20 3002 2070

Financial PR
Cubitt Consulting
Nicholas Nelson / Madeline Douglas  
T: +44 20 7367 5100

Brainerd Communicators
Chris Plunkett / Mike Smargiassi
T: +1 212 986 6667

Media PR
Gerry Buckland
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).