30th Aug 2017 07:00
Amphion Innovations plc
("Amphion" or "the Company")
30 August 2017
Sale of Partner Company Shares
London and New York, Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, today announces that 1,700,000 shares in Partner Company, Motif Bio have been sold in partial repayment of the loan facility (the "Facility") originally announced on 5 June 2014. Following this sale, Amphion holds 41,540,645 ordinary shares of Motif Bio, representing 15.8% of the issued share capital.
Up to June 2017, Amphion has drawn down US $6.149 million under the Facility, using certain assets of Amphion as collateral. This capital has been used to support the development of the Partner Companies which will in turn enhance the asset value of Amphion. If not modified, the Facility will be due for final payment by December 2017.
Discussions are continuing with the Lender in relation to a rescheduling of the remaining amounts due. Our confidence in the future of Motif Bio remains high and we will endeavor to minimise the further reduction of the size of our holding.
For further information please contact:
Amphion Innovations | Tel: +1 (212) 210 6224 | ||||
Charlie Morgan | |||||
Panmure Gordon Limited (Nominated Adviser and Corporate Broker) | Tel: +44 (0)20 7886 2500 | ||||
Freddy Crossley / Duncan Monteith (Corporate Finance) | |||||
Charlie Leigh-Pemberton (Corporate Broking) | |||||
Northland Capital Partners Limited (Joint Corporate Broker) | Tel: +44 (0)20 3861 6625 | ||||
Patrick Claridge / David Hignell (Corporate Finance) | |||||
John Howes (Corporate Broking) | |||||
Walbrook PR | Tel: +44 (0)20 7933 8780 or | ||||
Mike Wort/ Paul McManus | |||||
About Amphion Innovations plc
Amphion Innovations is a developer of medical, life science and technology businesses.
We use our extensive experience in company building to invest and build shareholder value in high growth companies in the US and UK. Amphion has significant shareholding in 7 Partner Companies developing proven technologies targeting substantial commercial marketplaces. The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the Partner Companies. The Partner Companies collectively own or control over 200 separately identified pieces of intellectual property, a number which grows rapidly each year.
On the web: www.amphionplc.com
Related Shares:
AMP.L