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Share Name Share Symbol Market Type Share ISIN Share Description
Arena Events Group Plc LSE:ARE London Ordinary Share GB00BF0HYJ24 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 17.00 16.50 17.50 17.00 16.325 17.00 417,908 08:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 183.2 -23.0 -15.0 - 55

Arena Events Group PLC Further re Placing and Potential Acquisition

07/04/2021 7:43am

UK Regulatory (RNS & others)


Arena Events (LSE:ARE)
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RNS Number : 6427U

Arena Events Group PLC

07 April 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (AS AMENDED) (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("EUWA")). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

7 April 2021

ARENA EVENTS GROUP PLC

(the "Company")

Further re Placing and Potential Acquisition

Arena Events Group plc (AIM: ARE) is pleased to announce that, further to the announcement on 29 March 2021, the Company has been successful in its bid for the operating business and assets of Aztec Shaffer. As anticipated, the bid was submitted on 2 April 2021 in accordance with an auction process pursuant to Section 363 of the United States Bankruptcy Code. The total value of the bid to the secured lender (AIG) and including amounts payable to the parties that provided interim funding through the bankruptcy process is $25.6 million funded by Arena's equity contribution of $3.35 million for its 50% equity stake in NewCo and a debt financing package from the Co-Bidders totalling $18.25 million.

Completion remains subject to, inter alia, the sale hearing at the United States Bankruptcy Court for the Southern District of Texas on 12 April 2021.

A further announcement will be made in due course.

Defined terms in this announcement shall have the same meaning as those in the RNS release on 29 March 2021.

Enquires:

 
 Arena Events Group plc                 Via Alma PR 
  Greg Lawless (CEO)                     +44(0)207 397 8900 
  Steve Trowbridge (CFO) 
  Cenkos Securities (Nomad and 
  Broker) 
 Max Hartley, Max Gould (Corporate 
  Finance) 
  Julian Morse (Sales) 
 
 
   Alma PR (Financial PR) 
   John Coles, Josh Royston, Helena 
   Bogle                                 +44(0)203 405 0205 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

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(END) Dow Jones Newswires

April 07, 2021 02:43 ET (06:43 GMT)

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