TIDMPTV

RNS Number : 0989O

PeerTV PLC

13 September 2011

13 September 2011

PeerTV PLC

("PeerTV" or "the Company")

Closing of successful placing

PeerTV (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market, announces that at its directors have decided to exercise their discretion to close the current fundraise. The Placing has received irrevocable commitments for a total of GBP2.4 million before expenses (approximately GBP1.7 million after expenses). The Placing was marketed by CSS Partners LLP an appointed representative of Charles Street Securities Europe LLP, in the form of GBP10,000 units, each unit consisting of GBP5,000 face value 2014 Loan Notes and 16,667 Placing Shares at an implied price of 30p per share ("Placing Price").

Note: definitions are the same as in the shareholder circular posted to shareholders on 12 September 2011

Mr Ofer Barda, Chief Executive Officer, says:

"We are delighted to have raised these funds which will be used to fund the costs of the acquisition of Digitek Holdings Ltd. and the additional working capital requirements of the enlarged group. This enables us to change the scope and scale of our business, providing solid foundations for growth. As well as providing us with the ability to grow our client base and expand our product offering, the enlarged business will benefit from significant operational benefits to logistics, quality control and production management. We look forward to further updating the market with developments in due course."

Further enquiries:

PeerTV Plc

Leon Nahon, Chairman +972 974 07315

Ofer Barda, CEO

Libertas Capital Corporate Finance Limited

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

Rivington Street Corporate Finance

Dru Edmonstone +44 (0) 20 7562 3350

This information is provided by RNS

The company news service from the London Stock Exchange

END

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