Arena Events Group PLC Vendor Deferred Consideration (1259W)

TIDMARE

RNS Number : 1259W

Arena Events Group PLC

15 April 2019

15 April 2019

Arena Events Group plc

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

Vendor Deferred Consideration

Arena Events Group plc announces that pursuant to the acquisition of Stuart Rentals announced on 14 August 2018, the initial earn-out condition has been achieved and is now due. The vendors have elected to receive approximately 25% of the deferred consideration amount in new ordinary shares in the Company, with the balance paid in cash. As such, the Company will issue 800,000 ordinary shares to the vendors of Stuart Rentals at a price per share of 38.5 pence.

Application has been made for the new ordinary shares to be admitted to trading, with admission expected to occur on 18 April 2019.

The total number of voting rights in the Company is therefore 152,710,833. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 
 Arena Events Group plc 
  Greg Lawless (CEO) 
  Piers Wilson (CFO) 
  Cenkos Securities (Nomad and Broker)     [phone] 
 Max Hartley (Corporate Finance) 
  Julian Morse (Sales)                    [phone] 
 
  Alma PR (Financial PR) 
 Josh Royston / John Coles / Helena 
  Bogle                                   [phone] 
 

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(END) Dow Jones Newswires

April 15, 2019 02:00 ET (06:00 GMT)