9th Sep 2014 09:03
LONDON (Alliance News) - Motive Television PLC Tuesday said it had amended the terms of the convertibles securities deal it signed with Bergen Global Opportunity Fund LP in May, raising the currently outstanding nominal amount of the first convertible security to GBP1.3 million, from GBP1.2 million, in return for Bergen foregoing certain rights under the deed.
It didn't say what rights Bergen had given up, but said all the other terms of the deed are unchanged.
In May, Motive Television said it had secured up to GBP3.0 million of investment through a placing of convertible securities with New York-based Bergen Global Opportunity Fund, as it looked to fund the anticipated acquisition of the last third of its Spanish subsidiary.
Motive Television shares were down 6.7% at 0.0147 pence Tuesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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