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:
Tel: +1 (212) 210 6224
Panmure Gordon Limited (Nominated Adviser and Corporate Broker)
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
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