News blog

Motive Television

• BY: Andrew Hore |
• POSTED: 27/08/2013 |

Nearly one-third of the share capital of Motive Television (MTV) has been traded today but it appears this is based on rumours that are not true. 

Digital television technology developer MTV denies singing an agreement with a high profile potential customer and it is not in negotiations with them. MTV says that it continues to be in negotiations concerning a number of potential deals.

The company’s technology uses spare capacity on the channels transmitting to TV set top boxes to transmit other programming and enable the viewers to watch it when they want to. Progress has been slow and costly. There were 2.56bn shares in issue at the end of 2012 and this has been increased to 18.48bn via fundraisings.

More than 5.6bn shares have been traded today which is a greater number than in the whole of the previous month. Nearly all of the trading was in the afternoon. The largest trade was worth £13,425 so this shows that it was all based on small investor interest. Many trades were valued at less than £100.

The share price more than doubled at one point in the day but ended up rising 0.007p to 0.019p, valuing MTV at £3.51m. 

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2013_47.pdf