Amphion Innovations plc
Additional Draw Down on Loan Facility
London and New York, 28 April 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 $1,765,000 (an “Additional Draw”) under the loan facility as announced on 5 June 2014 (the “Facility”).
Under the terms of the Additional Draw, the interest rate will be 10% with repayments starting on 1 May 2016 and with the final repayment due on 1 February 2017. The proceeds are to be used to repay the existing amount due under the Facility and for working capital for Amphion and its Partner Companies.
The loan is secured by the pledge by the Company of 7,774,678 ordinary shares of Kromek Group plc and 14,906,145 ordinary shares of Motif Bio plc.
Richard Morgan, CEO of Amphion, said: “We continue to believe in the future upside potential of our holdings in both Partner Companies, Kromek and Motif Bio. We are working on moving other programmes forward and this facility gives us access to additional working capital to progress the business’ pipeline while these two Partner Companies develop further.”
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 7382 1100
Plumtree Capital Limited (Financial Adviser)
+44 (0)20 7183 2493
+646 568 7502
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.