Amphion Innovations : Convertible Promissory Note Extended to December 2017

Amphion Innovations plc

Convertible Promissory Note Extended
to December 2017

London and New York, 2 March 2016 - Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces that at a meeting on 26 February 2016, the holders of £5,707,738 Convertible Promissory Notes previously due on 31 December 2015 (the 'Notes', and the 'Note Holders') unanimously agreed to amend the terms of the Notes.

The Notes will now be redeemed on 31 December 2017 (subject to certain early partial redemptions options) unless previously converted; will be convertible into fully paid ordinary shares of 1 pence in the capital of the Company ('Shares') at 8 pence per Share; and will pay interest at 7 per cent. if the respective Noteholder elects to be paid in Ordinary Shares, or will pay interest at 5 per cent. if the respective Noteholder elects to be paid in cash or additional Notes, until conversion or redemption. In addition, for every £1 of Note held, the respective Noteholder will be issued two warrants. Each warrant granted will entitle the holder to subscribe for Shares at 10 pence per Share.

Mr. Richard Morgan is a Director of the Company and has an interest in approximately 12.98 per cent. of its issued share capital. Mr. R. James Macaleer was a former Director of the Company (within the preceding 12 months) and his estate has an interest in approximately 13.21 per cent. of its issued share capital. By virtue of Mr. Morgan being a Director in addition to his current interests in the Company, and by virtue of Mr. Macaleer having been a former Director in addition to his estate's current interests in the Company, Mr. Morgan and the estate of Mr. Macaleer are considered to be 'related parties' as defined under the AIM Rules. Mr. Morgan and the Estate of Mr. Macaleer are Note Holders, and accordingly the amendment of the terms of the Notes, as described above, is deemed a related party transaction for the purposes of the AIM Rules. As a result, the independent Directors of the Company consider, having consulted with the Company's nominated adviser, Panmure Gordon, that the amendment to the terms of Notes are fair and reasonable insofar as its shareholders are concerned.

For further information please contact

Amphion InnovationsCharlie Morgan
[phone]

Yellow Jersey PR
Charles Goodwin / Dominic Barretto
[phone]

Panmure Gordon Limited (Nominated Adviser and Corporate Broker)
Freddy Crossley / Duncan Monteith (Corporate Finance)
Charlie Leigh-Pemberton (Corporate Broking)
[phone]

Northland Capital Partners Limited (Joint Corporate Broker)Patrick Claridge / David Hignell (Corporate Finance)
John Howes (Corporate Broking)
[phone]

Plumtree Capital Limited (Financial Adviser)Stephen Austin
[phone]
[phone]

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.