11th Jun 2015 08:41
LONDON (Alliance News) - Israel-based technology company PeerTV PLC said Thursday it is questioning Speech Modules Holdings Ltd to determine whether or not its recent sale of its entire stake in Peer TV was in breach of a collaboration agreement signed between the two.
Speech Modules informed Peer TV on Wednesday it had sold its entire share in PeerTV. The shares had been issued to Speech Modules at a value of GBP200,000 as part of a second collaboration agreement signed April 16, under which Speech Modules agreed it would not sell shares having a market value of more than GBP50,000 per month.
PeerTV has a market capitalisation of GBP716,949. Speech Modules had a 9.25% holding in PeerTV, according to Morningstar, some 29.4 million shares out of a total of 302.68 million.
Shares in PeerTV are trading up 7.8% at 0.221 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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