20th Oct 2015 14:34
LONDON (Alliance News) - PeerTV PLC on Tuesday said it has issued an advance notice to draw down a further GBP89,000 under the terms of its standard equity distribution agreement with YA Global Master SPV Ltd.
The proceeds will be used to provide the company with additional working capital.
New shares will be issued at a 7% discount to the company's share price based on a figure calculated over 10 days from Monday this week.
In addition, a 3% fee is deductible from the net advance under the drawdown.
Shares in PeerTV were up 2.2% at 0.022 pence on Tuesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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