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Motive Television raises cash to fund roll-out of TabletTV

Published: 08:24 02 Apr 2015 BST

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Motive Television (LON:MTV) has raised £1mln through a share issue to fund the roll-out of its revolutionary Tablet TV offering.

The company has placed shares at 0.015p a share, which is a discount to last night's closing mid-market price of 0.023p.

As is often the case with discounted share placings, the share price of Motive has moved down towards the placing price, and is currently trading at 0.0154p.

Shares are still up 20% year-to-date, however, following a number of promising developments, including the launch of a video-on-demand service that will make long ferry trips less boring, a revised app for its TabletTV offering, and plans to add Chromecast functionality into its TabletTV apps.

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