Amphion Innovations PLC Update on Loan Facility (5537U)
01 Abril 2019 - 3:00AM
UK Regulatory
TIDMAMP
RNS Number : 5537U
Amphion Innovations PLC
01 April 2019
1 April 2019
AMPHION INNOVATIONS PLC
("Amphion" or "the Company")
Update on Loan Facility
London and New York, 1 April 2019 - Amphion Innovations plc
(AIM: AMP), the developer of medical, life science, and technology
businesses, announces that, further to the announcement of the 11
March 2019, the Company has pledged its holding of Polarean Imaging
plc ("Polarean") as additional security against the loan facility
(the "Facility") with the Company's debt provider ("the
Lender").
The loan amount under the Facility continues to be secured by
the Company's pledge of 18,000,591 ordinary shares of Motif Bio plc
("Motif"). Amphion currently holds 18,779,611 ordinary shares of
Motif, representing 5.5% of the issued share capital. From 1 April
2019, the loan is also secured by the Company's holding of
18,372,523 shares of Polarean.
Currently, the loan balance under the Facility is approximately
US $3.65 million (including fees and accrued interest). The loan is
repayable on 30 September 2019. Amphion has transferred the legal
title to, but retains the beneficial interest in, the total pledged
shares in both Motif and Polarean. Following completion of a
lock-in period in respect of the Polarean shares held, the Lender
has agreed to adhere to the terms of an orderly market agreement
for the next 12 months.
Under the amended terms of the Facility, the interest rate will
remain at 10% per annum. The Lender will also receive 15% of the
future appreciation on Amphion's holding of 10,000,000 ordinary
shares in Motif, above 10 pence as well as participate in 15% of
the appreciation in 10,000,000 ordinary shares of Polarean held by
the Company, above 18 pence.
The Lender's participation in the appreciation of the Motif and
Polarean shares will expire on the earlier of 30 September 2021 or
when the Company has sold all of its ordinary shares in Motif and
Polarean.
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 Adviser Tel: +44 (0)20
and Corporate Broker) 7886 2500
Emma Earl/ Freddy Crossley (Corporate
Finance)
Charles Leigh-Pemberton (Corporate
Broking)
SP Angel Corporate Finance LLP (Joint Corporate Tel: +44 (0) 20
Broker) 3470 0470
David Hignell (Corporate Finance)
Vadim Alexandre (Corporate Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or amphion@walbrookpr.com
Anna Dunphy / Paul
McManus
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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April 01, 2019 02:00 ET (06:00 GMT)
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