PTV Peertv

TIDMPTV

RNS Number : 6068K

PeerTV PLC

26 June 2014

26 June 2014

PeerTV PLC

("PeerTV" or the "Company")

Loan Note Conversion and Issue of Equity

PeerTV plc (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market, and PCB (printed circuit board) production solutions announces that further to the announcement on 23 December 2013, the Company and holders of 8% unsecured loan notes ("Loan Notes") agreed to the conversion of the Loan Notes to Ordinary Shares. The Company announces that it has converted Loan Notes to the value of GBP450,239 and has issued 43,007,388 new Ordinary Shares at a price of 1.047p each ("Conversion Shares").

The Company also announces that further to the placing announcement on 13 June 2014 (the "Placing") the Company has now received a further GBP5,000 taking the total amount received pursuant to the Placing to GBP259,000. Following receipt of the GBP5,000, the Company has issued and allotted 500,000 new ordinary shares of 0.5 pence each ("Ordinary Shares") at a price of 1 penny per new Ordinary Share ("Placing Shares").

Consideration for the remaining GBP7,300 to be received under the Placing is expected to be remitted to the Company by 15 July 2014 with the resulting 730,000 new Ordinary Shares issued and allotted to investors once the funds are received.

The Company also announces that it has issued 150,000 new Ordinary Shares in lieu of fees and marketing expenses for the raising of secured loan notes issued by the Company's subsidiary Digitek SMT Assemblies Limited ("Secured Loan Notes") at a price of 1p per new Ordinary Share ("Loan Shares"). Further to this, it has also issued a further 1,950,000 new Ordinary Shares in lieu of payment of outstanding fees at a price of 1.0735 pence per new Ordinary Share ("Fee Shares"). The Company has also issued 3,703,686 new Ordinary Shares in lieu of interest payable to CSS Alpha (BVI) Limited at a price of 1.038p per new Ordinary Share ("Interest Shares").

The Conversion Shares, Placing Shares, Loan Shares, Fee Shares and Interest Shares ("New Shares") amount to 49,311,074 new Ordinary Shares in aggregate. Application has been made for the New Shares to be admitted to trading on AIM and admission is expected to occur at 8:00am on 1 July 2014 ("Admission").

Following Admission, the Company will have in issue 266,987,865 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of Ordinary Shares with voting rights in the Company will be 266,987,865. This figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.

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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