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Motive signs Agreement with the Largest Holder of Convertible Loan Notes
On 8 December 2015, Motive Television Plc ("Motive" or the "Company") announced that discussions with holders of convertible loan notes ("CLN Holders") in the Company remained ongoing and were at an advanced stage.

05 January 2016
Motive Television PLC
("Motive" or the "Company")

Motive signs Agreement with the Largest Holder of Convertible Loan Notes

Company continuing negotiations with remaining CLN Holders

Convertible Loan Notes

On 8 December 2015, Motive Television Plc ("Motive" or the "Company") announced that discussions with holders of convertible loan notes ("CLN Holders") in the Company remained ongoing and were at an advanced stage. The Company originally issued £6,585,670 of fixed interest Convertible Loan Notes ("CLNs") in October 2010 to fund the acquisition of Motive Television SL. The Company currently has a balance of outstanding unredeemed CLNs with a face value of £2,978,396 which mature on 31 December 2015 not including the CLN's owned by Motive Investments Limited, a wholly-owned subsidiary of the Company with a £1,060,244 face value.

Motive announces today that it has reached agreement with the largest CLN holder to acquire its £1,393,795 of CLN's for £100,000 in cash plus a 5-year warrant to acquire 5% of the Company. Completion of the acquisition is scheduled no later than 15 January 2016.

The Company continues in negotiations with the remaining CLN holders to extend or acquire the remaining notes.

The acquired CLN's will be held in MTV Investments Limited.  Following the acquisition, the total CLN's owned by MTV Investments Limited will represent 60.8% of total outstanding CLN's.
Michael J Pilsworth, Chairman commented, "The agreement to acquire the CLN's represent a significant improvement in the Company's balance sheet. With the drive toward near term profitability based on the Company's success in winning new contracts and success with our technology, the financial restructuring represents a balance sheet reset and hopefully a new beginning for Motive. "

Leonard M Fertig, CEO added, "The recent increased market interest in our patented and unique Content Express™, TabletTV™ and BYODTV™ technology and the combined investment and sacrifices of directors, management, and investors provide a path for the Company to deliver growth in shareholder value."

Working Capital and Trading Update

Motive's working capital continues to be tightly managed and Motive continues to rely on the support of its creditors, staff and of its directors. To assist in the drive toward monthly cash positive operations during the first half of 2016, the Directors and senior management of Motive will continue to be compensated at the rate of half salary in cash and half in ordinary shares from January until the Company reaches monthly cash profitability.

Litigation Update

On 6 October 2015 Motive announced that the Court of Appeal in Barcelona had ruled against the Company in its legal action to appeal the judgment of the Court of First Instance in Barcelona in the case of Motive Television PLC vs HISCAN PATRIMONIO S.A.U. ("HISCAN", the successor to CCAN 2005 INVERSIONES SOCIETARIAS S.A.U. and now part of Spanish bank Caixa Bank S.A.), the minority holder.

As announced previously, in November 2015 the filed an Appeal against this decision in the Spanish Supreme Court. A decision on whether the appeal would be heard in the Spanish Supreme Court is expected by the end of Q1 2016. If successful, an appeal to the Supreme Court is estimated to take four to five years to be heard. In the meantime negotiations with HISCAN to settle the case out of court continue.


Motive Television plc
Michael Pilsworth, Chairman
Leonard M Fertig, CEO
T: +44 20 7025 8425

Sanlam Securities UK (Nominated Adviser)
Simon Clements / James Thomas
T: +44 20 7628 2200

Beaufort Securities
Jon Belliss
T: +44 20 7382 8300

Newgate Communications
Jason Nisse
T: +44 20 7680 6559

Media PR Europe
Gerry Buckland
T: +44 7774 860011

Brainerd Communicators
Chris Plunkett / Mike Smargiassi
T:  +1 212 986 6667

Notes to Editors:

Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).

Motive Television provides broadcasters and pay television operators with enabling technology that provides opportunities to deliver highly valued services to viewers that generate additional income and retain existing subscribers, comprising:

Content Express™

Today's television viewers are demanding the ability to watch whatever they want when they want it on any screen, and Motive's Content Express™ makes that possible without having to build new networks. Content Express™ software provides secure delivery and management of non-linear digital content across any type of broadcast network to any consumer-facing screen or device.  Motive has deployed it in both single and hybrid distribution systems that combine broadband access with traditional distribution for an optimal solution.

Motive's Content Express™ solutions platform provides a one-stop shop for digital terrestrial broadcasters, satellite, DTT cable pay television platforms, and Internet OTT content providers to offer new services including: Video on Demand (VOD and SVOD), Catch-up television, Tablet Television, Targeted advertising for VOD, Mocast for 4G LTE, Virtual channels and Video2Go.


With a proprietary app and TPod antenna-tuner, tablet owners around the globe can watch and record all the programming currently broadcast over digital terrestrial channels.  Additionally, Tablet TV subscribers have the ability to download a selection of video-on-demand movies and programmes without the need for Internet access and, when they are connected, use integrated social networking and access anything available over the Internet.


Motive's BYOD TV solution provides passengers and crew in maritime environments with access to video-on-demand movies and television without needing direct access to the Internet or broadcast signals.  Markets for the platform include operators of passenger ferries, cruise lines, commercial ships, and oil platforms among others.  In addition, BYOD TV has application for additional markets including passenger airlines, trains, waiting lounges, etc.

Motive's content division is:
Motive Television Limited, a Dublin-based award-winning independent production company that produces factual programmes for Irish broadcasters. It specializes in live sports production and sports documentaries and also produces factual and entertainment series.