Amphion Innovations PLC Sale of Partner Company Shares (6345R)
September 25 2017 - 1:00AM
UK Regulatory
TIDMAMP
RNS Number : 6345R
Amphion Innovations PLC
25 September 2017
Amphion Innovations plc
("Amphion" or "the Company")
Sale of Partner Company Shares
London and New York: Amphion Innovations plc (AIM: AMP), the
developer of medical, life science, and technology businesses,
announces that 4,390,000 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 37,150,645 ordinary shares of Motif Bio,
representing 14.1% of the issued share capital.
Up to June 2017, Amphion has drawn down US $6.149 million under
the Facility (of which US $4.3 million is currently outstanding),
using certain assets of Amphion as collateral. This capital has
been used to support the development of the other Partner Companies
which the Directors believe will in turn enhance the asset value of
Amphion. The Facility was due for final payment by December 2017,
with a series of monthly stage payments. Amphion recognises the
intrinsic value of its Motif Bio holding and in order to protect
against a further sales of shares it has been in negotiation with a
number of finance providers to seek an alternative resolution which
will not result in any further reduction of its holding in Motif
Bio.
We are therefore pleased to be able to announce that, as a part
of those negotiations, we have agreed with the current loan
provider that the sale of the Motif Bio shares today will be the
last until 15 January 2018. In addition, we can confirm that we are
already in negotiations regarding alternative longer term financing
strategies and will update shareholders in due course.
For further information please contact:
Amphion Innovations Tel: +1 (212) 210 6224
Charlie Morgan
Panmure Gordon Limited (Nominated Tel: +44 (0)20
Adviser and Corporate Broker) 7886 2500
Freddy Crossley / Duncan
Monteith (Corporate Finance)
Charlie Leigh-Pemberton
(Corporate Broking)
Northland Capital Partners Limited Tel: +44 (0)20
(Joint Corporate Broker) 3861 6625
Patrick Claridge / David
Hignell (Corporate Finance)
John Howes (Corporate
Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or
amphion@walbrookpr.com
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
This information is provided by RNS
The company news service from the London Stock Exchange
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