TIDMARE

RNS Number : 1635B

Arena Events Group PLC

08 January 2018

8(th) January 2018

Arena Events Group plc

(the "Company" or the "Group")

Director/PDMR Dealing

Exercise of Option Agreement

and

Issue of Equity

Arena Events Group plc (AIM: ARE) announces that on 5(th) January 2018 the Company exercised its call option in relation to the remaining loan notes in issue by the Group, held by Greg Lawless, CEO, and Gaitsford Investments Limited (a company owned and controlled by Greg Lawless) ("Gaitsford"). Accordingly Greg Lawless and Gaitsford have each sold the retained principal and accrued interest on the loan notes back to the Group and used the proceeds of such sale to subscribe for an aggregate of 2,513,541 new ordinary shares of 1p each ("New Ordinary Shares") to be issued by the Company. The New Ordinary Shares have a value equivalent to GBP1,382,448 at the price of 55p per share, representing the placing price of the Group's initial public offering.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 11 January 2018. Upon issue of the New Ordinary Shares, the total number of shares in issue and total voting rights will be 117,153,481. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.

As a result of the call option exercise, Greg Lawless will have a total beneficial holding of 6,640,755 ordinary shares in the Company, representing 5.7% of the Company's then issued share capital.

Further information is disclosed below pursuant to Article 19 of the Market Abuse Regulation.

 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
----  --------------------------------------------------------------- 
 a)    Name                             1. Greg Lawless 
                                         2. Gaitsford Investments 
                                         Limited 
----  --------------------------  ----------------------------------- 
 2     Reason for the notification 
----  --------------------------------------------------------------- 
 a)    Position/status                  1. Chief Executive Officer 
                                         2. Person closely associated 
                                         with Greg Lawless 
----  --------------------------  ----------------------------------- 
 b)    Initial notification        Initial 
        /Amendment 
----  --------------------------  ----------------------------------- 
 3     Details of the issuer, emission allowance 
        market participant, auction platform, auctioneer 
        or auction monitor 
----  --------------------------------------------------------------- 
 a)    Name                        Arena Events Group plc 
----  --------------------------  ----------------------------------- 
 b)    LEI                         213800Z94NF6F4C9AD43 
----  --------------------------  ----------------------------------- 
 4     Details of the transaction(s): section to 
        be repeated for (i) each type of instrument; 
        (ii) each type of transaction; (iii) each 
        date; and (iv) each place where transactions 
        have been conducted 
----  --------------------------------------------------------------- 
 a)    Description of              Ordinary Shares of 1p each 
        the financial 
        instrument, type 
        of instrument 
                                    ISIN: GB00BF0HYJ24 
 
        Identification 
        code 
----  --------------------------  ----------------------------------- 
 b)    Nature of the               Subscription of new ordinary 
        transaction                 shares 
----  --------------------------  ----------------------------------- 
 c)    Price(s) and volume(s)        Price(s)       Volume(s) 
                                     -------------  ---------- 
 
                                           1. 55p    2,302,620 
                                            2. 55p    210,921 
                                     -------------  ---------- 
----  --------------------------  ----------------------------------- 
       Aggregated information 
 
 
        - Aggregated volume 
                                     2,513,541 
 
 d)     - Price                      55p 
----  --------------------------  ----------------------------------- 
 e)    Date of the transaction     5 January 2018 
----  --------------------------  ----------------------------------- 
 f)    Place of the transaction    Outside a trading venue 
----  --------------------------  -----------------------------------

Ends

Enquiries

 
Arena Events Group plc:     0203 770 3838 
Greg Lawless, CEO 
 Piers Wilson, FD 
 
Cenkos:                     020 7397 8900 
Max Hartley, Camilla Hume 
 (NOMAD) 
 Julian Morse (Sales) 
 
Alma PR:                    020 8004 4219 
John Coles 
Josh Royston 
 Helena Bogle

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHEAPFXEAXPEFF

(END) Dow Jones Newswires

January 08, 2018 02:00 ET (07:00 GMT)

Arena Events (LSE:ARE)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Arena Events Charts.
Arena Events (LSE:ARE)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Arena Events Charts.