27th May 2015 09:20
LONDON (Alliance News) - Motive Television PLC said Wednesday that it is rolling out an advertising and promotional campaign for its TabletTV product in the UK, and said Bergen Global Opportunity Fund LP has opted to convert GBP180,000 of existing debt into equity under a convertible securities issuance deed.
As a result Motive has allotted 1.63 billion shares at a price of GBP0.00011 per share to Bergen.
Motive has also amended the deed, amending the currently outstanding nominal amount for the first convertible security previous issued under the deed to GBP821,838 from GB:780,020, in consideration of Bergen foregoing certain rights under the deed. All other terms of the deed remain the same.
Motive will be launching several consumer reviews and blogs in the coming weeks to promote TabletTV UK, as part of a digital advertising campaign with London agency Golley Slater.
Shares in Motive Television are trading down 10.7% at 0.00960 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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