PTV Peertv

TIDMPTV

RNS Number : 9488B

PeerTV PLC

09 April 2013

9 April 2013

PeerTV PLC

("PeerTV" or "the Company")

Issue of Debt in Subsidiary and

ISO 9001-2008 and AS9100-C certification

The board of PeerTV (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market and PCB (printed circuit board) production solutions, announces the placing of an additional GBP500,000 Secured Loan Notes with attached warrants to Digitek SMT Assemblies Ltd ("Digitek Assemblies") under a GBP1,750,000 issuance program. Digitek Assemblies is the sales and financing subsidiary of Digitek Holdings Ltd. ("Digitek"), a 70% owned subsidiary of PeerTV.

The Secured Loan Notes

As announced on 30 April 2012, Digitek Holdings Ltd and its subsidiaries restructured their balance sheets in H1 2012 and established a non-bank financing facility for its working capital needs.

The Secured Loan Notes were placed with investors in either 6 month or 12 month tranches. The 6 month tranche carries an interest of 0.8% per month while the 12 month tranche carries an interest of 1% per month. In each case interest is payable quarterly. Both tranches have bonus warrants into PeerTV attached, with the 6 months tranche receiving 25,000 warrants per GBP10,000 subscription and the 12 month tranche subscribers receiving 50,000 warrants per GBP10,000 subscription. The exercise price of the warrants is the par value per share.

In total the Company has issued approximately GBP1,659,000 under the Secured Loan Notes issuance program. It is intended that this facility will be used and rolled over until Digitek can replace it with more conventional banking facilities.

ISO 9001/2008 and AS9100-C certification

The Company is also pleased to announce that SM Digitek, the production subsidiary of Digitek, has received both ISO 9001-2008 and AS9100-C quality certification. The latter certification is to Aerospace standards and will allow Digitek to bid directly for Israeli defense contracts.

Late in 2012 Digitek renewed its ISO 13485 certification for electronic assembly of products in the medical and biopharmaceutical industries.

Avi Vermus, CEO commented: " these certifications place Digitek in a very small group of companies, with only seven SMT companies qualified with the AS0100-C certification to bid on Israeli defense work. This new certification will offer a significant strategic advantage for the development of the Company and will help to drive our sales in the future. The lead time to sales progress from the military market is expected to be approximately 3-4 months."

Further enquiries:

 
 PeerTV Plc 
 Leon Nahon, Chairman                                                  +972 974 07315 
 Libertas Capital Corporate 
  Finance Ltd 
 Thilo Hoffmann/Andrew 
  McLennan                                                       +44 (0) 207 569 9650 
 Peterhouse Corporate 
  Finance 
 Jon Levinson/Eran Zucker                                        +44 (0) 20 7469 0932 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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