PTV Peertv

TIDMPTV

RNS Number : 9247D

PeerTV PLC

03 February 2015

3 February 2015

PeerTV PLC

("PeerTV" or the "Company")

New Assembly Line and Issue of Shares

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 its Digitek business has taken delivery of a major part of the new assembly line, first announced to the market in September 2014.

That part of the new line has already gone into operation and the remaining sectors are expected to become fully operational within the next few weeks.

The new assembly line, which utilizes some of the most advanced SMT (Surface Mount Technologies) is expected to increase Digitek's manufacturing and assembly capacity by at least 50% and facilitate more competitive pricing and direct cost savings.

Following the deployment, Digitek is now providing customers with advanced AOI (Automated Optical Inspection) which is a key technique which enables fast and accurate inspection of electronics assemblies and in particular PCBs to ensure that the quality of product leaving the production line is high and the items are built correctly and without manufacturing faults.

The directors are confident that by offering more advanced technologies, Digitek will attract high quality conscious customers especially from the medical equipment and military sectors, many of which Digitek is in negotiation with.

The introduction of the new assembly line will enable Digitek to dispose of some older items of equipment. This has allowed a reduction in the space occupied by the PeerTV Group by almost 40%, with a corresponding saving in rent and other related costs.

PeerTV also announces that it has issued 3,333,333 new Ordinary Shares in part payment of loans and unpaid fees due by its subsidiaries PeerTV Limited and SM Digitek (1993) Limited at a price of 1.50 pence per new Ordinary Share ("New Shares").

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 10(th) February 2015 ("Admission").

Therefore following Admission, the Company will have in issue 101,679,628 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 101,679,628. 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

ZAI Corporate Finance Limited

Ray Zimmerman / Richard Morrison

Tel: +44 20 7060 2220

Daniel Stewart & Company plc

David Coffman

Tel: +44 207 7766550

This information is provided by RNS

The company news service from the London Stock Exchange

END

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