21 December 2012
MOTIVE TELEVISION PLC
("Motive" or the "Group")
("Motive" or the "Group")
Issue of Equity
The Company announces that it has today issued, conditional on admission, 183,333,333 Ordinary Shares in the capital of the Company to Dutchess Opportunity Cayman Fund Ltd ("Dutchess") as a result of issuing a put notice to Dutchess on 6 December 2012 ("Put Date") under the terms of the Equity Line Facility ("ELF") announced on 3 July 2012.
The Company has issued the shares to Dutchess at a price of 0.03 pence per share which, in keeping with the terms of the ELF, represents 94 per cent. of the lowest of the daily volume weighted average price of the shares during the 10 consecutive trading days after the Put Date.
Application will be made for the 183,333,333 new ordinary shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 3 January 2013. Following the issue of the subscription shares, the Company will have 5,382,735,548 ordinary shares in issue.
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
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).