Arena Events Group PLC Vendor Deferred Consideration (1259W)
15 April 2019 - 4:00PM
UK Regulatory
TIDMARE
RNS Number : 1259W
Arena Events Group PLC
15 April 2019
15 April 2019
Arena Events Group plc
("Arena", the "Company" or the "Group")
Vendor Deferred Consideration
Arena Events Group plc announces that pursuant to the
acquisition of Stuart Rentals announced on 14 August 2018, the
initial earn-out condition has been achieved and is now due. The
vendors have elected to receive approximately 25% of the deferred
consideration amount in new ordinary shares in the Company, with
the balance paid in cash. As such, the Company will issue 800,000
ordinary shares to the vendors of Stuart Rentals at a price per
share of 38.5 pence.
Application has been made for the new ordinary shares to be
admitted to trading, with admission expected to occur on 18 April
2019.
The total number of voting rights in the Company is therefore
152,710,833. This figure may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure and
Transparency Rules.
Arena Events Group plc
Greg Lawless (CEO)
Piers Wilson (CFO)
Cenkos Securities (Nomad and Broker) +44(0)203 770 3838
Max Hartley (Corporate Finance)
Julian Morse (Sales) +44(0)207 397 8900
Alma PR (Financial PR)
Josh Royston / John Coles / Helena
Bogle +44(0)203 405 0208
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END
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