Amphion Innovations PLC Additional Draw Down on Loan Facility (5832W)
28 April 2016 - 4:01PM
UK Regulatory
TIDMAMP
RNS Number : 5832W
Amphion Innovations PLC
28 April 2016
Amphion Innovations plc
("Amphion" or "the Company")
Additional Draw Down on Loan Facility
London and New York, 28 April 2016 - Amphion Innovations plc
(AIM: AMP), the developer of medical, life science, and technology
businesses, today announces that the Company has agreed terms for
the draw-down of an additional tranche of US $1,765,000 (an
"Additional Draw") under the loan facility as announced on 5 June
2014 (the "Facility").
Under the terms of the Additional Draw, the interest rate will
be 10% with repayments starting on 1 May 2016 and with the final
repayment due on 1 February 2017. The proceeds are to be used to
repay the existing amount due under the Facility and for working
capital for Amphion and its Partner Companies.
The loan is secured by the pledge by the Company of 7,774,678
ordinary shares of Kromek Group plc and 14,906,145 ordinary shares
of Motif Bio plc.
Richard Morgan, CEO of Amphion, said: "We continue to believe in
the future upside potential of our holdings in both Partner
Companies, Kromek and Motif Bio. We are working on moving other
programmes forward and this facility gives us access to additional
working capital to progress the business' pipeline while these two
Partner Companies develop further."
For further information please contact:
Amphion Innovations
Charlie Morgan
+1 212 210 6224
Yellow Jersey PR
Charles Goodwin / Dominic Barretto
+44 (0)7747 788 221
Panmure Gordon Limited (Nominated Adviser and Corporate
Broker)
Freddy Crossley / Duncan Monteith (Corporate Finance)
Charlie Leigh-Pemberton (Corporate Broking)
+44 (0)20 7886 2500
Northland Capital Partners Limited (Joint Corporate Broker)
Patrick Claridge / David Hignell (Corporate Finance)
John Howes (Corporate Broking)
+44 (0)20 3861 6625
Plumtree Capital Limited (Financial Adviser)
Stephen Austin
+44 (0)20 7183 2493
+646 568 7502
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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