1st Apr 2015 15:41
1 April 2015
PeerTV PLC
("PeerTV" or the "Company")
Installation of New Digitek Assembly Line and Issue of Equity
PeerTV plc (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market, and PCB (printed circuit board) production solutions announces that further to the announcement of 3rd February 2015, its subsidiary Digitek SMT Assemblies Ltd ("Digitek") has taken delivery of the remaining parts of the new production line.
The new line has been brought into full operation and as expected, Digitek is seeing increasing interest from both potential and existing customers, across a variety of industry sectors, which should be reflected in increasing revenues in the coming months.
PeerTV also announces that it has issued 8,000,000 Ordinary Shares in part repayment of loans due by the Company and its subsidiary PeerTV Limited and Digitek SMT Assemblies Limited at a price of 0.75 pence per Ordinary Share. The amount of liabilities being repaid is £60,000. It has also issued 1,333,333 Ordinary Shares in settlement of professional fees due by the Company.
Application has been made for the New Shares to be admitted to trading on AIM and admission is expected to occur at 8:00am on 10 April 2015 ("Admission").
Following Admission, the Company will have in issue 153,361,712 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of Ordinary Shares with voting rights in the Company will be 153,361,712. This figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.
Further enquiries:
PeerTV Plc
Eitan Yanuv, Chairman
Tel: +972 974 07315
ZAI Corporate Finance Limited
Tim Cofman / Richard Morrison
Tel: +44 20 7060 2220
Daniel Stewart & Company plc
David Coffman
Tel: +44 207 7766550
Related Shares:
PTV.L