Amphion Innovations PLC Additional Draw Down on Loan Facility (1706W)
07 February 2017 - 6:00PM
UK Regulatory
TIDMAMP
RNS Number : 1706W
Amphion Innovations PLC
07 February 2017
Amphion Innovations plc
("Amphion" or "the Company")
Additional Draw Down on Loan Facility
London and New York, 7 February 2017 - 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 $500,000 (an
"Additional Draw") under the loan facility as announced on 5 June
2014 (the "Facility").
The current loan balance under the Facility after the Additional
Draw will be US $5,800,000. The Additional Draw may be converted
into Ordinary Shares of Amphion in accordance with the additional
terms of the Facility announced on 22 August 2016.
Under the terms of the Additional Draw, the interest rate will
be 10% with repayment to be added to the outstanding balance and
amortized over the remaining life of the loan, which matures on 1
December 2017. The proceeds are to be used for working capital for
Amphion and its Partner Companies.
The Additional Draw is secured by the additional pledge by the
Company of 14,500,000 ordinary shares of Motif Bio plc, bringing
the total amount pledged to 4,139,255 ordinary shares of Kromek
Group plc and 42,461,625 ordinary shares of Motif Bio plc. Amphion
transfers the legal title to, but will retain the beneficial
interest in, the total pledged shares.
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 7382 1100
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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