Amphion Innovations PLC Sale of Partner Company Shares (9386O)
23 May 2018 - 4:00PM
UK Regulatory
TIDMAMP
RNS Number : 9386O
Amphion Innovations PLC
23 May 2018
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 8,896,034 shares in Partner Company, Motif Bio plc
("Motif"), have been sold directly to a leading US institutional
investor at 31 pence per share (the "Motif Shares"). Net proceeds
of approximately US $3,700,000 from the sale of the Motif Shares
will be used as partial repayment of the loan facility (the
"Facility") originally announced on 5 June 2014 with the most
recent terms announced on 22 December 2017, as well as ongoing
business operations and development of Amphion's other Partner
Companies. Following this sale, Amphion's holding will represent
9.53% of the issued share capital of Motif (following Motif's
recent placing announced on 17 May 2018). The Motif Shares had a
book value of US $3,497,019.85 as at 30 June 2017.
With the sale of the Motif shares, Amphion is able to pre-pay
three months' of loan repayments to the lender of the Facility.
Following repayment, the current loan balance of the Facility will
be US $3,685,183 including fees and accrued interest. The remaining
loan balance will be repaid in 4 monthly installments from 15
September - 15 December 2018.
The current loan under the Facility continues to be secured by
the pledge of 27,475,591 ordinary shares of Motif Bio plc. Amphion
has transferred the legal title to, but retains the beneficial
interest in, the total pledged shares. Amphion recognises the
intrinsic value of its Motif Bio holding and is eager to retain as
much of its holding as possible.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
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 / Emma Earl
(Corporate Finance)
Charlie Leigh-Pemberton
(Corporate Broking)
Northland Capital Partners Limited Tel: +44 (0)20
(Joint Corporate Broker) 3861 6625
David Hignell (Corporate
Finance)
John Howes (Corporate
Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or
amphion@walbrookpr.com
Paul McManus /Helen
Cresswell
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
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END
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