Receipt of First Payment

RNS Number : 9181C

Pebble Beach Systems Group PLC

21 April 2017

 

Pebble Beach Systems Group plc (formerly Vislink plc)

Receipt of first payment

Further to the announcement of 20 March 2017, the Company is pleased to confirm that it has received the first $250,000 into its bank account in respect of the $2.0 million debtor outstanding, where xG Technology Inc ("xG") is completing the order on behalf of itself and the Company.

This payment amount is in line with the expectations of the Company at 20 March 2017, when the final settlement agreement was signed with xG. This money will be used to reduce the Company's bank borrowings. The Board remains in regular dialogue with its bank, who remain supportive.

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For further information please contact:

John Varney, Non-Executive Chairman	[phone]
Charlie Jack / Bertie Berger Hudson Sandler	[phone]
Shaun Dobson / James White N+1 Singer	[phone]

The Company is listed on the LSE AIM market (PEB.L).  More information can be found at www.pebbleplc.com.

About Pebble Beach Systems

Pebble Beach Systems is a leading developer and supplier of automation, channel in a box and content management solutions for TV broadcasters, service providers, and cable and satellite operators.  Founded in 2000 and headquartered in Weybridge Surrey, the Company has developed a portfolio of successful products which have the flexibility to support a wide range of broadcast applications. Pebble Beach Systems works closely with broadcasters, systems integrators and technical partners to deliver the best possible solution for each customer.  Its international client base includes TV Globo Brazil, Fox News and Business channels USA, ZDF Germany, Orbit Showtime Network UAE, TV4 Sweden, TV2 Denmark, Viasat UK and AMC Networks Inc. USA.

Forward-looking statements

Certain statements in this announcement are forward-looking. Although the Group believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. Because these statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. The Group undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast.

 

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