17th Sep 2008 11:48
Motive Television Plc (the "Company" or "Motive")
Issue of equity and director's dealing
Issue of Equity
The board announce that the Company has placed 52,000,000 new ordinary shares at 0.5 pence per share with clients of its broker, Dowgate Capital Stockbrokers Limited and Michael Pilsworth, a director of the Company. The placing has raised £260,000 before costs (the "Placing").
The net proceeds of the placing will be used to provide the Company with additional working capital and potentially fund any cash component of any future acquisitions.
The new ordinary shares will rank pari passu with existing ordinary shares. Application has been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM. Trading in these ordinary shares will commence on or around 23 September 2008.
Subsequent to the Placing the issued share capital of the Company comprises 342,499,463 ordinary shares of 0.1 pence each.
Director's Dealing
Michael Pilsworth, a director of the Company participated in the Placing. Details of his purchase and subsequent holding in the Company are set out below:-
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Name
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Number of shares subscribed for in the Placing
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Number of shares held subsequent to the Placing
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Interest over issued share capital of the Company
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|
|
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Michael Pilsworth
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2,000,000
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6,011,904
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1.6%
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Contact
Motive Television plc
Mick Pilsworth, Chairman
Tel: 020 7428 2004
Nominated Adviser to Motive Television plc
Dowgate Capital Advisers Limited
Liam Murray, Nominated Adviser
Tel: 020 7492 4777
Financial PR to Motive Television plc
Bishopsgate Communications Ltd
Jenni Herbert or Nick Farmer
Tel: 020 7562 3350
Related Shares:
Motive Television Plc