Information  X 
Enter a valid email address

PeerTV PLC (PTV)

  Print      Mail a friend       Annual reports

Monday 18 June, 2012

PeerTV PLC

Request to capitalize interest payments

RNS Number : 5872F
PeerTV PLC
18 June 2012
 



 

18 June 2012

 

PeerTV PLC

("PeerTV" or "the Company")

Trading Update

Request to defer interest payment

PeerTV (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet), announces that it is requesting that note holders of the Peer TV Plc 8% Loan Notes due 31 December 2014 agree to accrue the interest payments due in June 2012 and in December 2012 to the principal. In consideration for this the Company will issue to each note holder a five year warrant equal to 50% of the interest to be accrued, to purchase ordinary shares at a price of 7.5 pence per share. The request is subject to approval at a meeting by loan note holders. The meeting has been called for 27 June 2012. PeerTV will update the market as to the outcome of the meeting.

The Company has decided to take this step to manage cash resources following the slower than anticipated sales of its legacy, pre-Android, set top boxes that was announced on 8 June 2012.

 

Further enquiries:

PeerTV Plc

Leon Nahon, Chairman                                                                                               +972 974 07315

Libertas Capital Corporate Finance Limited

Thilo Hoffmann/Andrew McLennan                                                                  +44 (0) 20 7569 9650

Rivington Street Corporate Finance

Jon Levinson/Eran Zucker                                                                                +44 (0) 20 7562 3384

Bishopsgate Communications

Nick Rome/Sam Allen                                                                                        +44 (0) 20 7562 3350

peertv@bishopsgatecommunications.com 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTEAFKPFLLAEFF