Proactive Investors - Run By Investors For Investors

Amphion Innovations 'working closely' with lenders on loan terms

As of Tuesday, the outstanding loan balance was US$3.2mln, including fees and accrued interest
Amphion
The loan is secured by the company's stake in Motif Bio

Amphion Innovations PLC (LON:AMP) reassured investors on Wednesday that it was working closely with its debt provider to find a resolution to the terms of its loan.

The developer of medical, life science and technology businesses currently does not hold enough collateral to meet the requirements of the facility. The loan amount is secured by the company's stake in Motif Bio.

READ: Amphion Innovations pledges Polarean shares as loan security

As of Tuesday, the outstanding loan balance was US$3.2mln, including fees and accrued interest, and Amphion held 10.9mln shares in Motif, representing a 4.8% stake.

“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,” Amphion said.

“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 and accrued interest are due for repayment at the end of September

View full AMP profile View Profile

Amphion Innovations PLC Timeline

Related Articles

machines
February 04 2019
“We continue to focus on further strengthening our engineering capability and optimising quality management to meet the expected growth in demand for driver monitoring systems,” chief executive Ken Kroeger.
e-learning
May 10 2019
The AIM-listed firm's 2018 results in March showed a 104% year-on-year jump in pre-tax earnings (EBIT) to £27.2mln, ahead of markets expectations, as revenues soared by 83% to £93.9mln
internet
June 17 2019
Signs FPGA Smartnic deal with Chinese firm FiberHome

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use