Amphion Innovations plc
("Amphion" or "the Company")
Additional Draw Down on Loan Facility
London and New York, 13 July 2016 - Amphion Innovations plc (AIM: 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 $750,000 (an "Additional Draw") under the loan facility as initially announced on 5 June 2014 (the "Facility"). The Company will receive the proceeds of the Additional Draw immediately.
Under the terms of the Additional Draw, nil interest is charged with a repayment amount of US $881,250 due on 6 October 2016. The proceeds of the Additional Draw are to be used to partially repay the existing amount due under the Facility and for working capital for Amphion and its Partner Companies. The Additional Draw may be converted into Ordinary Shares in Amphion in accordance with the additional terms of the Facility announced on 29 April 2016.
The Additional Draw is to be secured by the Company pledging an additional amount of marketable securities, equivalent in value to US $900,000, within 30 days of this announcement.
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 (Corporate Broking)
+44 (0)20 3861 6625
Plumtree Capital Limited (Financial Adviser)
+44 (0)20 7183 2493
+646 568 7502
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
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