Business
Strategic Partnership and Share Subscription
Strategic Partnership and Share Subscription.
About this update from Pebble Beach Systems Group Plc
[{"type":"text","content":"\n \nRNS Number : 5655Q Vislink PLC 02 September 2014 \n \n\n \n \n \n2 September 2014\nVislink plc\n \nPebble Beach Systems to partner with Harmonic Inc to provide integrated playout solutions to global broadcast market\n \nStrategic partnership sees Harmonic place an initial order valued at £2.0m to secure product for onward sale in its integrated packages\n \nHarmonic to acquire 4,000,000 new ordinary shares in Vislink plc at 50 pence per share, by way of a direct subscription\n \n \nVislink plc (\"Vislink\" or the \"Group\"), the global technology business specialising in high performance wireless communications products and services for the broadcast, defence and security markets, is pleased to announce that Pebble Beach Systems (\"PBS\"), the Group's wholly-owned subsidiary which it acquired in March 2014, has signed a strategic partnership with Harmonic Inc (\"Harmonic\") (Nasdaq: HLIT) the worldwide leader in video delivery infrastructure for emerging television and video services. \n \nHarmonic's production-ready technology enables content and service providers to efficiently create, prepare, and deliver differentiated services for television and new media video platforms.\n \nThe partnership will enable Harmonic to sell packages integrated with PBS products to the international broadcast market.\n \nAs part of the partnership agreement, Harmonic will place an initial order with PBS valued at £2.0m receivable in 2014 to secure PBS product for onward sale in its integrated packages.\n \nSubscription\n \nIn parallel with the strategic partnership, Harmonic has subscribed for 4,000,000 new ordinary shares of 2.5 pence each in the Group (\"New Ordinary Shares\") at a price of 50 pence per share by way of a direct subscription with the Group (the \"Subscription\").\n \nThe proceeds of the Subscription will be used by the Group to further strengthen its balance sheet.\n \nApplication has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 4 September 2014. The New Ordinary Shares will be fully paid and will rank pari passu in all respects with the Group's ex...