Arena Events Group PLC New multi-year contract (3882J)

TIDMARE

RNS Number : 3882J

Arena Events Group PLC

23 August 2021

23 August 2021

Arena Events Group plc

("Arena", the "Company" or the "Group")

New multi-year contract

Further to the announcement made on 26 April 2021, Arena Events Group plc (AIM: ARE), the integrated event solutions business, is pleased to report that its recently acquired US subsidiary, Arena Aztec Shaffer (AAS), based in Houston, Texas, has agreed to a new multi-year contract with Championship Management, a division of the PGA TOUR. The agreement, which runs until May 2023, covers the same scope of events as previously served by AAS, with pricing adjusted to reflect current market conditions.

The significant majority of the historical revenues of the previous Shaffer part of the business had come from golf, supporting in excess of seven tournaments a year including the Players Championship and the Presidents Cup. Shaffer originally signed a contract with Championship Management in 2000, which was renewed in 2008, 2012 and 2017. Prior to Arena's acquisition of Aztec Shaffer, the multi-year long term contract with Championship Management had been replaced by a short term amended contract up to the end of May 2021 and extended again through to the end of December 2021.

Greg Lawless, Chief Executive Officer of Arena commented:

"I am delighted that the team at Arena Aztec Shaffer and Championship Management have been able to agree to a new contract. This reflects the continued strong delivery of events by the team at AAS since we acquired our stake in the company in April and allows all parties to plan for a busy upcoming golf calendar, including the Presidents Cup in 2022. With a strong trading performance since we made the acquisition, this agreement further supports the rationale for our investment in AAS."

Enquiries:

 
 Arena Events Group plc 
  Greg Lawless (CEO)                              Via Alma 
  Steve Trowbridge (CFO) 
 
  Cenkos Securities (Nomad and Broker)            [phone] 
 Derrick Lee / Max Gould (Corporate Finance) 
  Julian Morse (Sales) 
 
   Alma PR (Financial PR)                         [phone] 
 

Josh Royston, John Coles, Helena Bogle

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August 23, 2021 02:00 ET (06:00 GMT)