Aeorema Communications Plc Completion of vendor placing (6433Q)

TIDMAEO

RNS Number : 6433Q

Aeorema Communications Plc

13 September 2017

Aeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media

13 September 2017

Aeorema Communications plc ('Aeorema' or the 'Company')

Completion of vendor placing and director dealings and

appointment of Joint Broker

Further to the announcement released earlier today, Aeorema Communications plc, the AIM-traded live events agency, announces that 3,426,500 ordinary shares in the Company have been sold by out-going Board members Peter Litten and Gary Fitzpatrick, though a placing conducted by Allenby Capital Limited at a price of 18p per ordinary share (the "Placing"). The incoming Joint Managing Directors, Steve Quah and Andrew Harvey, and existing non-executive director Richard Owen, have, in aggregate, purchased 281,010 of these shares and the balance was purchased by new and existing shareholders of the Company.

The changes in the shareholdings of the directors of the Company are set out in the table below:

 
 Director             Number of       Share Purchase     Number of       % of Share 
                   Shares Purchased        Price        shares held        Capital 
                                                         following      held following 
                                                        the Director     the Director 
                                                          Purchase         Purchase 
---------------  ------------------  ---------------  --------------  ---------------- 
 Steve Quah                 181,010              18p         481,010             5.31% 
---------------  ------------------  ---------------  --------------  ---------------- 
 Andrew Harvey               50,000              18p         130,000             1.44% 
---------------  ------------------  ---------------  --------------  ---------------- 
 Richard 
  Owen*                      50,000              18p          80,000             0.88% 
---------------  ------------------  ---------------  --------------  ---------------- 
 

*30,000 ordinary shares are held by Reverse Take-Over investments plc, of which Richard Owen is a director

The Board of Aeorema is now interested in 2,416,010 ordinary shares in the Company in aggregate, representing 26.69 per cent. of the issued share capital. In addition, Steve Quah holds options over 300,000 ordinary shares in the Company, representing 3.31 per cent. of its current issued share capital.

Following completion of the Placing, Peter Litten and Gary Fitzpatrick have stepped down from their Board positions and no longer have an interest in the Company's issued share capital.

Appointment of a joint broker

The Company is pleased to announce the appointment of Allenby Capital Limited as joint broker to the Company with immediate effect.

Chairman Mike Hale said:

"With a robust cash position of in excess of GBP1.2 million, as at our year end in June 2017, a reinvigorated Board and management team, industry leading products, and a prospective growth outlook, I believe the coming year will be an active one for our Company. I am pleased to report that my confidence in Aeorema's prospects is shared by my fellow board members and new and existing shareholders, as highlighted by the share purchases. With all the foundations in place for growth, I look forward to working with our new Joint Managing Directors to expand our industry leading live events operations whilst also identifying prospective value accretive growth opportunities. We look forward to updating shareholders on these exciting developments in due course.

"Finally, I would like to take this opportunity to give my great thanks to Peter and Gary for their consistent hard work and commitment. We wish them well in their future endeavours and look forward to enjoying their continued support going forward as we move into a new phase of growth."

**S**

For further information visit www.aeorema.com or contact:

 
 Mike Hale                Aeorema Communications      Tel: +44 (0) 
                           plc                        20 7291 0444 
-----------------------  ------------------------  --------------- 
 Marc Milmo / Catherine   Cantor Fitzgerald           Tel: +44 (0) 
  Leftley                  Europe (Nominated          20 7894 7000 
                           Adviser and Joint 
                           Broker) 
-----------------------  ------------------------  --------------- 
 Jeremy Porter /          Allenby Capital Limited   Tel: +44 (0)20 
  John Depasquale          (Joint Broker)                3328 5656 
  / Liz Kirchner 
-----------------------  ------------------------  --------------- 
 Isabel de Salis          St Brides Partners          Tel: +44 (0) 
  / Charlotte Page         Ltd                        20 7236 1177 
-----------------------  ------------------------  --------------- 
 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                         Steve Quah 
---  ---------------------------  -------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status              Director 
---  ---------------------------  -------------------------- 
 b)   Initial notification         Initial notification 
       /Amendment 
---  ---------------------------  -------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                         Aeorema Communications 
                                    plc 
---  ---------------------------  -------------------------- 
 b)   LEI                          n/a 
---  ---------------------------  -------------------------- 
 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 12.5p 
       the financial instrument,     each 
       type of instrument 
       Identification                ISIN code: GB00B4QHH456 
       code 
---  ---------------------------  -------------------------- 
 b)   Nature of the transaction 
---  ---------------------------  -------------------------- 
 c)   Price(s) and volume(s)         Price(s)   Volume(s) 
                                     ---------  ---------- 
                                      18p        181,010 
                                     ---------  ---------- 
---  ---------------------------  -------------------------- 
 d)   Aggregated information       N/A 
       - Aggregated volume 
       - Price 
---  ---------------------------  -------------------------- 
 e)   Date of the transaction      13 September 2017 
---  ---------------------------  -------------------------- 
 f)   Place of the transaction     London Stock Exchange 
---  ---------------------------  -------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                         Andrew Harvey 
---  ---------------------------  -------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status              Director 
---  ---------------------------  -------------------------- 
 b)   Initial notification         Initial notification 
       /Amendment 
---  ---------------------------  -------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                         Aeorema Communications 
                                    plc 
---  ---------------------------  -------------------------- 
 b)   LEI                          n/a 
---  ---------------------------  -------------------------- 
 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 12.5p 
       the financial instrument,     each 
       type of instrument 
       Identification                ISIN code: GB00B4QHH456 
       code 
---  ---------------------------  -------------------------- 
 b)   Nature of the transaction 
---  ---------------------------  -------------------------- 
 c)   Price(s) and volume(s)         Price(s)   Volume(s) 
                                     ---------  ---------- 
                                      18p        50,000 
                                     ---------  ---------- 
---  ---------------------------  -------------------------- 
 d)   Aggregated information       N/A 
       - Aggregated volume 
       - Price 
---  ---------------------------  -------------------------- 
 e)   Date of the transaction      13 September 2017 
---  ---------------------------  -------------------------- 
 f)   Place of the transaction     London Stock Exchange 
---  ---------------------------  -------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                         Richard Owen 

---  ---------------------------  -------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status              Director 
---  ---------------------------  -------------------------- 
 b)   Initial notification         Initial notification 
       /Amendment 
---  ---------------------------  -------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                         Aeorema Communications 
                                    plc 
---  ---------------------------  -------------------------- 
 b)   LEI                          n/a 
---  ---------------------------  -------------------------- 
 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 12.5p 
       the financial instrument,     each 
       type of instrument 
       Identification                ISIN code: GB00B4QHH456 
       code 
---  ---------------------------  -------------------------- 
 b)   Nature of the transaction 
---  ---------------------------  -------------------------- 
 c)   Price(s) and volume(s)         Price(s)   Volume(s) 
                                     ---------  ---------- 
                                      18p        50,000 
                                     ---------  ---------- 
---  ---------------------------  -------------------------- 
 d)   Aggregated information       N/A 
       - Aggregated volume 
       - Price 
---  ---------------------------  -------------------------- 
 e)   Date of the transaction      13 September 2017 
---  ---------------------------  -------------------------- 
 f)   Place of the transaction     London Stock Exchange 
---  ---------------------------  -------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 13, 2017 06:36 ET (10:36 GMT)