13th Feb 2013 10:19
13 February 2013
Motive Television PLC
("Motive", the "Company" or "the Group")
Further re: Settlement with Andre Vanyi-Robin
Further to the announcement on 21 January 2013, the Company is pleased to announce that the High Court has consented to the settlement reached with Mr Vanyi-Robin and has sealed the order. Accordingly, the settlement is now full and final.
Under the terms of the settlement agreement, and as previously announced, Motive has issued 100,000,000 ordinary shares in the capital of the Company to Mr Vanyi-Robin. In addition, a further 127,949,600 ordinary shares have been issued to Mr Vanyi-Robin in satisfaction of earn-out commissions as set out in the SPA dated 17 September 2010. Both issuances of shares will be subject to a soft lock-in arrangement for 12 months in order to preserve an orderly market.
Application will be made for the 227,949,600 new ordinary shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 19 February 2013. Following the issue of these shares, the Company will have 5,815,419,520 ordinary shares in issue.
Contacts:
Motive Television plc Michael Pilsworth, Chairman Leonard M. Fertig, CEO
| T: +44 20 7025 8425 |
Merchant Securities (Nominated Adviser) Simon Clements / Virginia Bull
| T: +44 20 7628 2200 |
XCAP Securities (Joint Broker) Jon Belliss
| T: +44 20 7101 7070 |
Newgate Communications (Financial PR) Jason Nissé | T: +44 20 7680 6559 T: +44 7769 688 618 |
Brainerd Communicators Chris Plunkett / Mike Smargiassi
| T: +1 212 986 6667 |
Media PR Gerry Buckland | T: +44 7774 860 011
|
Notes to Editors
Motive Television provides software and services to the global television industry, enabling Television Anytime Anywhere™. Motive's patented and proprietary technology platform responds to the heightened viewer demand for watching what they want, when they want, on whatever device they want; and is driven by the mandatory switchover from analogue to digital broadcasting as mandated by the International Telecommunication Union.
Motive Television provides broadcasters and pay television operators with enabling technology that provides opportunities to deliver highly valued services to viewers that generate additional income and retain existing subscribers, comprising:
Television Anytime. A technology platform that enables digital broadcasters and pay television operators to offer enhanced broadcasting services with or without the need for an Internet connection. These services include, among others, Video-on-Demand, Catch-Up TV, Virtual Channels, Sneak Preview TV, and Targeted Advertising. Television Anytime is currently in commercial operation in Europe both in digital terrestrial (DTT) and soon in satellite (DTH) environments. Patented in Spain and patent pending in the EU.
Television Anywhere. An advanced multi-screen multi-channel technology that allows a viewer to control and watch all the content received by or recorded in their main home television equipment on any computer, mobile phone, iPad or any other Internet connected device. Television Anywhere is software-based and can be updated via software upgrades on existing STB. US patent pending.
Motive's content division is:
Motive Television Limited, a Dublin-based award-winning independent production company that produces factual programmes for Irish broadcasters. It specializes in live sports production and sports documentaries and also produces factual and entertainment series.
Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).
http://www.motivetelevision.co.uk
Related Shares:
Motive Television Plc