TIDMAMP

RNS Number : 8862B

Amphion Innovations PLC

12 June 2019

AMPHION INNOVATIONS PLC

("Amphion" or "the Company")

Loan facility update

12 June 2019, London and New York - Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces an update in respect of its loan facility.

The Company has been notified by the Company's debt provider (the "Lender") that, further to the terms of the loan facility which were announced on 11 March 2019 and 1 April 2019 (the "Facility"), the excess value of the collateral above the loan balance does not presently meet the terms of the Facility. As of 11 June 2019, the loan balance outstanding pursuant to the Facility is approximately US $3.2 million (including fees and accrued interest) and the number of Motif shares held was 10,900,591. The Board is working closely with the Lender regarding potential resolution in connection with the collateral requirement and further announcements will be made as appropriate.

The Company remains highly cash constrained and continues to consider both its short term and medium term funding options and work with the Company's note holders. The outstanding Facility balance plus accrued interest are currently due for repayment on 30 September 2019.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

For further information please contact:

 
 Amphion Innovations                                            Tel: +1 (212) 210 6224 
 Charlie Morgan 
 
 Panmure Gordon Limited (Nominated Adviser                              Tel: +44 (0)20 
  and Corporate Broker)                                                      7886 2500 
 Emma Earl/ Freddy Crossley (Corporate 
  Finance) 
 Charles Leigh-Pemberton (Corporate 
  Broking) 
 
 SP Angel Corporate Finance LLP (Joint Corporate                       Tel: +44 (0) 20 
  Broker)                                                                    3470 0470 
 David Hignell (Corporate Finance) 
 Vadim Alexandre (Corporate Broking) 
 
 Walbrook PR                        Tel: +44 (0)20 7933 8780 or amphion@walbrookpr.com 
 Anna Dunphy / Paul 
  McManus 
 
 

About Amphion Innovations plc

Amphion Innovations is a developer of medical, life science and technology businesses. We use our extensive experience in company building to invest and build shareholder value in high growth companies in the US and UK. Amphion has significant shareholding in 7 Partner Companies developing proven technologies targeting substantial commercial marketplaces. The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the Partner Companies.

On the web: www.amphionplc.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCEANKFFALNEFF

(END) Dow Jones Newswires

June 12, 2019 02:00 ET (06:00 GMT)

Amphion Innovations (LSE:AMP)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Amphion Innovations.
Amphion Innovations (LSE:AMP)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Amphion Innovations.