Motive Television Plc Regulatory News (MTV)

25 Jul 2005 07:00

Civilian Content PLC25 July 2005 CIVILIAN CONTENT PLC PURCHASES STAKE IN MOTIVE TV PLC 25 July 2005 Civilian Content Plc ("Civilian"), the film production, finance, UK distributionand international sales group announces today that it has acquired a 5.92% stakein Motive Television plc ("Motive"). Motive is the AIM-listed televisioninvestment vehicle headed by ex-Chrysalis industry veteran, Mick Pilsworth. Thecompany was established in May 2005 to acquire television production andlicensing businesses in the UK, following recent favourable regulatory changesin the television market. Motive's first acquisition was a TV Production business owned by Setanta, thesuccessful Irish sports driven broadcaster. Civilian's decision to investfollows meetings with the Motive management in the period prior to launch. Chris Auty, CEO of Civilian, commented today, "This is a strategic investment for the company as we look to further diversifyour interests. Recent changes to the regulatory framework governing terms oftrade in the TV sector are clearly favourable to the production sector,particularly in drama and series. We believe Mick Pilsworth and his team havethe experience to build Motive by acquisition in a sector which is undergoingconsolidation" For further information: Civilian Content Plc 020 7612 0030Chris Auty, Managing Director Citigate Dewe Rogerson 020 7638 9571Seb HoyleGeorge Cazenove Notes to Editors: 1. Civilian Content plc bought on 22nd July 2005 2,651,000 shares at 3.5pin Motive TV plc from Crispin Barker, non-executive chairman of Civilian. Thisis a total consideration of £92,785 plus stamp duty. These shares represent theentirety of Mr. Barker's stake in Motive TV. As part of the purchase agreement, Civilian has a put option on the shares at3.5p back to Mr. Barker during November and December 2005. As part of thisagreement, Civilian would retain 65% of any gain in the shares above 3.5p. 2. Civilian Content plc is a film production, finance, UK distribution andinternational sales group consisting of three wholly-owned subsidiary companies:The Works International (film rights sale, managed by Joy Wong), The FilmConsortium film production, managed by Neil Peplow), and The Works UKDistribution Ltd (managed by Mick Southworth). All three units are located inCivilian's offices and all three units report to group MD, Chris Auty and groupFD, Norman Humphrey. 3. Motive Television plc was formed to acquire businesses in theindependent television production sector. The management of Motive Televisionplc is a team of proven and experienced industry executives that intends to useits experience of mergers and acquisitions in the television sector to identifyprofitable businesses with growth potential. Motive Television PLC floated on the Alternative Investment Market (AIM) in May2005. It will be an acquirer of target companies in the independent televisionproduction sector. The Directors expect to raise additional finance eitherthrough raising debt and/or through the issue of further equity to complete anyacquisitions the Company may identify. Motive's first acquisition was Setanta TV, a Dublin-based sports, documentaryand factual TV production company which has been renamed Motive Television Ltd. This information is provided by RNS The company news service from the London Stock Exchange