RNS Number : 8128G
Motive Television PLC
08 February 2010
8 February 2010
Motive Television PLC
("Motive" or "the Group")
Clarification of Option, Warrant and Contract Terms
The Board of Motive announces that it has recently conducted a review of its administrative records in preparation for the audit for the year ended 31 December 2009.
Following that review the Board would like to clarify the quantum of executive directors' warrants and options awarded during 2009, the terms attaching to those warrants and options and certain of the terms of the Distribution Rights Agreement signed with Adecq Digital SL in July 2009.
Option and Warrants
|
Name of Option/Warrant holder
|
No. of Options/Warrants
|
Exercise Price
(Pence)
|
Exercise period
|
|
Leonard M. Fertig
|
Warrant over 10 per cent of the issued share capital from time to time*
|
0.31
|
29 July 2009 - 28 July 2019
|
|
|
Options over 5 million shares
|
0.45
|
17 June 2012 - 16 June 2019
|
|
Michael J. Pilsworth
|
Warrant over 7.5 per cent of the issued share capital from time to time*
|
0.62
|
21 October 2009 - 20 October 2019
|
|
|
Options over 5 million shares
|
0.45
|
17 June 2012 - 16 June 2019
|
|
Alistair J. King
|
Warrant over 2.5 per cent.of the issued share capital from time to time*
|
0.62
|
21 October 2009 - 20 October 2019
|
|
|
Options over 5 million shares
|
0.45
|
17 June 2012 - 16 June 2019
|
|
Ian C. Buckley
(now resigned)
|
Warrant over 2.5 per cent of the issued share capital from time to time*
|
0.45
|
18 August 2009 - 17 August 2019
|
* - these options/warrants are subject to anti dilution provisions which, on exercise, allow the holder to subscribe for such number of shares to maintain their stated percentage
Distribution Rights Agreement
Further to the announcement made on 30 July 2009 regarding the Distribution Rights Agreement entered into with Adecq Digital SL, the Company confirms that the initial term of this agreement is three years subject to a three month notice period by either party thereafter.
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Enquiries:
Motive Television PLC Tel: +44 (0) 20 3086 9430
Mick Pilsworth
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