Amphion Innovations plc
("Amphion" or "the Company")
Additional Draw on Loan Facility
London and New York, 26 November 2015 - Amphion Innovations plc (LSE: AMP), the developer of medical, life science, and technology businesses, today announces that the Company has agreed terms for the draw-down of an additional tranche of US $3 million under the loan facility as announced on 5 June 2014 ("Facility") to be drawn-down in two consecutive tranches ("Additional Draw"), the first being made on 25 November 2015 and the second on 8 December 2015.
Under the terms of the Additional Draw, the simulated warrants over Kromek Group plc, as detailed in the 5 June 2014 announcement, will be canceled, the interest rate on the Facility will be reduced from 12% to 10%, and no additional Amphion warrants will be granted. The remaining terms of the Additional Draw is on substantially the same terms as the Facility.
The Additional Draw is to be repaid in monthly installments starting 1 March 2016, with the final monthly repayment due on 1 November 2016. The proceeds are to be used to repay the existing amount due under the Facility and for working capital for Amphion and its Partner Companies.
For further information please contact:
+1 212 210 6224
Yellow Jersey PR
Charles Goodwin / Dominic Barretto
+44 (0)7747 788 221
Panmure Gordon Limited (Nominated Adviser and Corporate Broker)
Freddy Crossley / Duncan Monteith (Corporate Finance)
Charlie Leigh-Pemberton (Corporate Broking)
+44 (0)20 7886 2500
Northland Capital Partners Limited (Joint Corporate Broker)
Patrick Claridge / David Hignell (Corporate Finance)
John Howes / Mark Treharne (Corporate Broking)
+44 (0)20 7382 1100
Plumtree Capital Limited (Financial Adviser)
+44 (0)20 7183 2493
+646 568 7502
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. The Partner Companies collectively own or control over 200 separately identified pieces of intellectual property, a number which grows rapidly each year.
On the web: www.amphionplc.com
This information is provided by RNS