PeerTV receives 20,000 unit STB order from KartinaWednesday, September 17th, 2014
Conditional Purchase Order, Update on Digitek Order
PeerTV plc (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market, and PCB (printed circuit board) production solutions wishes to announce that it has received an order from Kartina Gmbh (“Kartina”), subject to conditions precedent, to purchase 20,000 Set Top Boxes for a total consideration of approximately $1,200,000 (the “Conditional Purchase Order”).
The Conditional Purchase Order is the first received for PeerTV’s next generation set top box using H.265 HEVC (High Efficiency Video Coding) technology to deliver TV over the internet. The new technology means that content can be streamed via the PeerTV set top box using less than 50% of the bandwidth previously required for other technologies. Significant enhancements to transmission quality have also been reported
The order is conditional on the completion of satisfactory technical due diligence by Kartina in respect of the new Set Top Box product. Accordingly there is no guarantee that such technical approval will be granted or that the Conditional Purchase Order will be finalised. Under the terms of the Conditional Purchase Order, technical due diligence is expected to be completed by 1 November 2014.
A further announcement will be made when Kartina have completed their technical due diligence on the new STB.
It is emphasised that because the Conditional Purchase Order is subject to final technical approval by Katrina, there is no guarantee that such technical approval will be granted. Shareholders should exercise caution when trading in the Company’s shares.
The Company also announces that due to customer delays in implementing the mass production stage of the order received by its subsidiary Digitek SMT Assemblies Limited, and announced on 13 May 2014, it is now likely that the project will not be fully completed by the end of 2014, as originally expected. Further announcements shall be made as and when appropriate