PeerTV PLC Company Update and Resignation of Nomad (3794N)
2016年1月29日 - 4:00PM
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RNS Number : 3794N
PeerTV PLC
29 January 2016
29 January 2016
PeerTV PLC
("PeerTV" or the "Company")
Company Update and Resignation of Nominated Adviser
Board Changes
The Company announces that Kavi Dhana resigned from his position
as a non-executive director of PeerTV on 28 January 2016 with
immediate effect. Ossie Weitzman has withdrawn his resignation,
announced yesterday, and therefore remains finance director of
PeerTV.
Corrective Statement
The Company wishes to make a corrective statement in respect of
the announcement issued on 23 June 2015 in which it stated that
Fidelity Venture Capital Limited ("Fidelity Venture") subscribed
for 50 million ordinary shares (in their then pre 1000:1
consolidated form) at a price of 0.20 pence per ordinary share for
cash.
The announcement did not include the full terms of payment for
the issue of the shares which included an immediate payment of
GBP25,000 and further payments to be settled in three parts being
one month, two months and three months from the date of the
allotment, such payments to be at the lower of (i) GBP25,000 (ii)
the value of 12.5 million Ordinary Shares of PeerTV priced at the
average VWAP of the lowest 10 trading days in the preceding
month.
In the event, Fidelity Venture failed to provide details of its
share trading account for several weeks, during which time there
was a significant fall in the market price of the Company's shares.
According to the Company's estimates Fidelity Venture has a further
liability to the Company under the agreement of about GBP10,000.
However, Fidelity Venture has not made any further payment.
Discussions have been held to try to realize some further payment
but these have to date been unsuccessful. Consequently, only
GBP25,000 of the GBP100,000 subscription funds from Fidelity
Venture implicit in respect of the 23 June 2015 announcement has so
far been received.
The agreement with Fidelity Venture dated 23 June 2015 also
included an obligation to issue warrants valid for two years from
the date of allotment to subscribe for up to 25 million shares at a
price of 0.40 pence per share. In light of the circumstances above,
these warrants have not been issued.
Resignation of Nominated Adviser and continued suspension of
shares
The Company announces that ZAI Corporate Finance has resigned as
the Company's nominated adviser with immediate effect. Accordingly
the Company's shares will remain suspended from trading on AIM. In
accordance with AIM Rule 1, if the Company fails to appoint a
replacement nominated adviser within one month of the date of that
suspension, admission of the Company's shares to trading on AIM
will be cancelled.
Admission to trading of the new ordinary shares
Further to the announcement on 26 January 2016 regarding the
loan conversion and issue of shares, the Company announces that the
admission of the 1,580,711 shares due to be admitted to AIM on 02
February 2016 may be delayed as a result of the suspension of the
Company's shares from trading on AIM.
Further enquiries:
PeerTV Plc
Eitan Yanuv, Chairman
Tel: +972 974 07315
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 29, 2016 02:00 ET (07:00 GMT)
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