PTV Peertv

TIDMPTV

RNS Number : 1985H

PeerTV PLC

17 June 2013

17(th) June 2013

PeerTV PLC

Placing and Issue of equity

PeerTV (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market and PCB (printed circuit board) production solutions, announces a successful placing and the issue of new ordinary shares.

The Company has raised GBP750,000 through a placing of 21,428,550 new ordinary shares placed at a price of 3.5 pence per share. Each investor receives an equal number of five year warrants to purchase ordinary shares at 4.0 pence per share. The shares and attached warrants were placed with private investors. The Placing will be funded in a number of tranches all expected within 30 days. The first tranche of GBP301,000 has been remitted to the Company and 8,599,992 shares have been allotted to investors.

Application will be made for the 8,599,992 shares to be admitted to trading on AIM and admission is expected on or after 21 June 2013.

Commenting on the placing Avi Vermus the CEO of PeerTV said:

" We are very pleased with the outcome of the placing. The proceeds will help in providing the group with the working capital required for the continued relaunch of both our businesses. Importantly, it will also enable us to increase our production capacity at Digitek and to deliver our pipeline of orders and letters of intent, particularly from newly acquired mass production customers".

Further enquiries:

 
 PeerTV Plc 
 Eitan Yanuv, Chairman                           +972 974 07315 
 Libertas Capital Corporate 
  Finance Ltd 
 Thilo Hoffmann                          +44 (0) 207 569 9650 
 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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