PTV Peertv

TIDMPTV

RNS Number : 7499K

PeerTV PLC

04 January 2016

04 January 2016

PeerTV PLC

("PeerTV" or the "Company")

Loan and Creditor Conversions

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 it has a number of arrangements with loan and other creditors under which such liabilities may be settled either by cash or through the issue of shares of the Company.

The details of these arrangements are as follows:

a) CSS Alpha (BVI) Limited (CSS) - under the terms of a Revolving Line of Credit that was announced in September 2014 repayments are due at the rate of GBP50,000 each month. Upon sale of such shares, the proceeds are credited to CSS's loan account. Prior to today's announcement, the balance on the facility was about GBP90,000.

b) Ran Zamir - Under the terms of an agreement dated 15 January 2015, the Company has issued shares in PTV as part repayment of a loan and accrued interest payable by Digitek SMT Assemblies Ltd which totalled about GBP95,000 as at that date. Upon sales of such shares, the proceeds are credited to Mr Zamir's account. Prior to the issue of shares announced on 15 December 2015, the balance due to Mr Zamir was about GBP33,000.

c) Galanti Group - repayments are being made to a group of Israeli investors which loaned funds to PeerTV Limited in 2011. Since August 2014 shares in PeerTV have been issued to repay the loan which at that time was GBP190,000. Upon sales of such shares, the proceeds are credited to the Galanti Group's account. Prior to the issue of shares to Shlomo and Ruth Galanti (representing the Galanti Group) announced on 15 December 2015 the balance due was about GBP150,000.

d) Adv Michael Avraham - in settlement of a court order for GBP60,000 granted to his clients, Box24, against PeerTV Limited in 2015, Adv Avraham has been issued shares in PeerTV. Upon sale of such shares, the proceeds are credited to his account. Prior to the issue of shares to Adv Avraham announced on 15 December 2015 the balance due was about GBP40, 000.

e) Cedric Littman - in settlement of a loan received by PeerTV plc in 2012. Mr Littman has been issued shares. Upon the sale of such shares, the proceeds are credited to his account. The current amount due is about GBP27,000.

It should be noted that the arrangements with Ran Zamir, Galanti Group and Adv Michael Avraham are subject to limitations on the quantity and frequency of share sales.

Further enquiries:

PeerTV Plc

Eitan Yanuv, Chairman

Tel: +972 974 07315

ZAI Corporate Finance Limited

Tim Cofman / 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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(END) Dow Jones Newswires

January 04, 2016 08:54 ET (13:54 GMT)

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