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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Pivot Entertain | LSE:PVT | London | Ordinary Share | GB00B1HLCW86 | ORD 2.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 10.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMR4E
RNS Number : 1554F
Reach4Entertainment Enterprises PLC
10 November 2015
10 November 2015
reach4entertainment enterprises plc
("r4e" or the "Company")
SpotCo repayment agreement
The Company is pleased to announce the conclusion of its deferred payment arrangements in respect of its acquisition of Spot and Company of Manhattan Inc. ("SpotCo"). The Company acquired SpotCo in 2008 and, as announced on 15 November 2012, a debt repayment agreement was entered into, which restructured outstanding debt owed to the vendor, Drew Hodges. Pursuant to that agreement, regular payments have been made to the vendor up to a total of $3.2 million, following which the Company had the option to pay the remaining balance of $1 million by the issue of new ordinary shares in the Company. It has now been agreed to waive this final payment of $1 million in full. Drew Hodges continues in his current role at SpotCo.
This agreement with Drew Hodges represents a related party transaction pursuant to the AIM Rules for Companies. Accordingly, the Directors of r4e consider, having consulted with r4e's nominated adviser, Allenby Capital Limited, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.
Enquiries:
Hot Features
Premium
reach4entertainment enterprises
plc +44 (0) 20 7968
David Stoller, Executive Chairman 1655
Allenby Capital (Nominated Adviser
and Broker) +44 (0) 20 3328
Jeremy Porter/James Reeve 5656
+44 (0) 20 3151
Novella Communications (Financial 7008
PR) +44 (0) 7900
Tim Robertson / Ben Heath 927650
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRVBLBFEFFXFBE
(END) Dow Jones Newswires
November 10, 2015 03:40 ET (08:40 GMT)
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