REG - Pebble Beach Sys Grp - Payment of Part of the Deferred Consideration <Origin Href="QuoteRef">PEB.L</Origin>

Pebble Beach SystemsAnnouncement

07/03/2017 10:50

RNS Number : 7439Y
Pebble Beach Systems Group PLC
07 March 2017
Pebble Beach Systems Group plc (the "Company" or the "Group")
Further Payment of Part of the Deferred Consideration
Further to the announcement of 23 February 2017, and in accordance with the amendment to the revised Business Purchase Agreement, xG Technology Inc ("xG") have settled a further sum of $1.6 million of the remaining deferred consideration of $6.5 million (due on 17 March 2017) by taking on liability for settling $1.6 million of VCS trade creditors. Following this payment, the deferred consideration due from xG is reduced to $4.9 million.
For further information please contact:
John Varney
Non-Executive Chairman
Pebble Beach Systems Group plc
+44 (0) 14 88 68 55 00
Charlie Jack / Bertie Berger 
Hudson Sandler
+44 (0) 20 77 96 41 33


Shaun Dobson / James White
N+1 Singer 
+44 (0) 20 74 96 30 00
The Company is listed on the LSE AIM market (PEB.L). More information can be found at www.pebbleplc.com.
About Pebble Beach Systems Limited 
Pebble Beach Systems Limited (Pebble) is a leading developer and supplier of automation, channel in a box, integrated and virtualised playout technology for TV broadcasters, service providers, and cable and satellite operators. Founded in 2000 and headquartered in Weybridge, Surrey, Pebble has developed a portfolio of successfulproductswhich have the flexibility to support a wide range of broadcast applications with scalable products designed for highly efficient multichannel transmission as well as complex news and sports television. Installed in more than 70 countries and with proven systems ranging from single up to over 150 channels in operation, Pebble's international client base includes TV Globo Brazil, Fox News and Business channels USA, ZDF Germany, Orbit Showtime NetworkUAE, TV4 Sweden, TV2Denmark, MTG UK, DMC in the Netherlandsand AMC Networks Inc. USA.

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