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PeerTV PLC (PTV)

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Monday 18 January, 2016

PeerTV PLC

Issue of Equity

RNS Number : 2361M
PeerTV PLC
18 January 2016
 

18th January 2016

 

PeerTV PLC

 

("PeerTV" or the "Company")

Issue of Equity

 

PeerTV plc (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market, and PCB (printed circuit board) production solutions announces that it has issued 3,400,000 Ordinary shares at a price of 1.5056 pence per share to YA Global SPV Limited ("YAG") being a further net drawdown of £51,189 under the Standby Equity Distribution Agreement announced on 30th July 2014.

The Advance Notice in respect of this drawdown was announced on 4th January 2016. YAG elected to reduce the amount of the drawdown from £68,000 to avoid exceeding the limits of its possible shareholding in the Company under the terms of the Standby Equity Distribution Agreement.

The issue price of the shares was determined based on the lowest Volume Weighted Average Price (VWAP) during the relevant pricing period which ended on 14th January 2016.

The Company is actively seeking alternative sources of financing.

Application has been made for the New Shares to be admitted to trading on AIM and admission is expected to occur at 8:00am on 22nd January 2016 ("Admission").

Following Admission, the Company will have in issue 15,712,320 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of Ordinary Shares with voting rights in the Company will be 15,712,320. This figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.

Further enquiries:

PeerTV Plc

Eitan Yanuv, Chairman                                                                                            

Tel: +972 974 07315

 

ZAI Corporate Finance Limited

Tim Cofman / Richard Morrison

Tel: +44 20 7060 2220

 

Daniel Stewart & Company plc

David Coffman

Tel: +44 207 7766550


This information is provided by RNS
The company news service from the London Stock Exchange
 
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