9th Oct 2015 12:43
LONDON (Alliance News) - Peer TV PLC on Friday confirmed it has begun preliminary discussions for a debt to equity conversion with key loan note holders of its 64.12% owned subsidiary Digitek SMT Assemblies Ltd.
The confirmation follows a sharp rise in the company's share price. Shares in Peer TV were up 140% at 0.0300 pence Friday afternoon, having risen as high as 0.04 pence earlier in the session.
Peer TV said talks were at "an early stage and no definitive terms have been agreed, nor can there be any certainty that such an agreement will be reached."
It noted that any agreement may result in its interest in Digitek being materially reduced. Digitek assembles electronics products and components for companies in the telecommunications industries.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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