Motive TV buys out venture capital backer

Motive Television, the 'TV anytime, anywhere' technology company, is to take full control of its intellectual property rights (IPR) by buying out the minority shareholder in its Spanish subsidiary.

Motive Television, the 'TV anytime, anywhere' technology company, is to take full control of its intellectual property rights (IPR) by buying out the minority shareholder in its Spanish subsidiary.

The AIM-listed television services provider has informed venture capital firm CCAN 2005 Inversiones Societarias that it has exercised its right to purchase CCAN's ownership in Motive Television SL at a nominal value of €0.10 per share. In total, Motive will pay €70,116 to CCAN. The action was triggered by a notice of merger of CCAN into La Caixa Bank received by Motive last week.

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