PTV Peertv

TIDMPTV

RNS Number : 2417H

PeerTV PLC

15 May 2014

15 May 2014

PeerTV PLC

("PeerTV" or the "Company")

Major New Customer Order & Placing

PeerTV plc (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market, and PCB (printed circuit board) production solutions wishes to update the market that its subsidiary company Digitek SMT Assemblies has received an order for sales of approximately $6.3 million from a new customer based in Israel.

The order is for the production of printed circuit boards on a full turnkey basis and has been placed by the customer in order to fulfil an export order received for high volumes of domestic electronic devices.

The project is expected to be completed and invoiced before the end of 2014 and will be paid through letters of credit drawn on a international bank.

Commenting on the order, Avi Vermus the Chief Executive Officer of Digitek said "This is a very important strategic order for Digitek. Mass production gives us the opportunity to fully utilize our production facilities on a continuing basis and maximize our efficiencies and profitability. It is the strongest sign yet of our success in repositioning the business. It is particularly pleasing that our success in winning this order was due to our ability to provide an innovative design and solution, resulting in a win win for Digitek and our customer."

At the same time, the directors are pleased to report that commitments totalling GBP266,300 ("Funds") have been received in respect of a private placing under which investors subscribed for 2,663,000 new ordinary shares of 0.5 pence each ("Ordinary Shares") at a price of 1p each ("Placing Shares") and received 5 years warrants to purchase an equal number of shares at a price of 1.5p each ("Warrants").

The Funds from the private placement are expected to be received by the end of May 2014 and will be utilized primarily to provide the working capital necessary to commence the major order described above. The Placing Shares will be issued and allotted to investors once the Funds are received.

Further enquiries:

PeerTV Plc

Eitan Yanuv, Chairman

Tel: +972 974 07315

Daniel Stewart & Company

Antony Legge / David Coffman

Tel: +44 (0)20 7776 6550

This information is provided by RNS

The company news service from the London Stock Exchange

END

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