Everyman Media Group PLC New Opening and Related Party Transactions (3652X)
21 February 2017 - 6:00PM
UK Regulatory
TIDMEMAN
RNS Number : 3652X
Everyman Media Group PLC
21 February 2017
Everyman Media Group plc ("Everyman" or the "Company")
New Opening and Related Party Transactions
The Company is pleased to confirm that the previously announced
venue in Stratford-upon-Avon has now become unconditional. It is
expected that the new four screen site will open in the second
quarter of 2017.
The lease for the site is 25 years and the annual rent is
GBP185,880 per annum. The landlord of the Stratford-upon-Avon site
is Blue Coast Stratford LLP. Blue Coast Stratford LLP and Blue
Coast Private Equity L.P., who owns 19.1 per cent. of the Company,
are companies within the same group. Michael Rosehill, a
non-executive director of the Company, is a director of both
entities.
Due to Mr Rosehill, as a director, and Blue Coast Private Equity
L.P, as a substantial shareholder, being connected with Blue Coast
Stratford LLP, the lease arrangement at the venue in
Stratford-upon-Avon is considered to be a related party transaction
under the AIM Rules. The directors of the Company consider the
terms of the lease to be on commercial terms. Furthermore, the
directors of the Company, other than Michael Rosehill, having
consulted the Company's nominated advisor Cenkos Securities plc,
consider the terms of the lease to be fair and reasonable insofar
as the Company's shareholders are concerned.
21 February 2017
For further information, please contact:
Tel: 020 3145
Everyman Media Group plc 0500
Crispin Lilly - Chief Executive
Officer
Cenkos Securities plc (NOMAD Tel: 020 7397
and Broker) 8900
Bobbie Hilliam
Harry Pardoe
This information is provided by RNS
The company news service from the London Stock Exchange
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