We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Metrodome Grp. | LSE:MRM | London | Ordinary Share | GB0002937141 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMRM
RNS Number : 1432M
Metrodome Group PLC
11 August 2011
11 August 2011
METRODOME GROUP PLC
('Metrodome', 'the Group', or the 'Company')
Acquisition of Hollywood Classics
Successful Placing
Conversion of Loan Notes
Appointment of Luke Johnson as Director
The board of Metrodome is pleased to announce that it has acquired Hollywood Classics Limited ("HC"), which markets and distributes the theatrical rights of classic films, for USD$2.6 million (GBP1.6 million) in cash, satisfied in part through a placing of New Ordinary Shares with both institutional and individual investors. HC represents theatrical and home video rights for classic films with a catalogue of some 600 'independent' films worldwide.
HC proudly represents the classic film libraries of Universal, Paramount, Twentieth Century Fox, Warner Bros. and the UK Film Council, including films such as Breakfast at Tiffany's, The Godfather and Psycho. It also distributes a growing number of studio classic films for the DVD market as well as a total library of over 700 films for television, DVD and VOD.
This strategic acquisition gives the Company access to major studios and vital international distribution networks. It should also create substantial cross-selling opportunities and potential for increased Group revenues.
In the full year to 2010 HC achieved annual revenues of GBP6.7 million and pre-tax profit of GBP510,000.
In conjunction with this acquisition, the Company has successfully raised GBP967,000 of new capital through the issue of 48,350,000 new ordinary shares at 2 pence each (the 'Placing'). The placees included Luke Johnson, best known for his involvement with Pizza Express, who will join the board with effect from 1 September 2011 as a non-executive director. In addition, GBP800,000 of Convertible Loan Notes have been converted into equity at a price of 2p per share - GBP400,000 from Metrodome BV (an investment vehicle controlled by Adrian Sarbu) and GBP400,000 from Mark Webster - resulting in the issue of a further 40,000,000 new ordinary shares. In addition, a further 7,500,000 shares have been issued at a price of 2p per share to satisfy fees due to Peter Urie (GBP125,000) and Steve Winetroube (GBP25,000).
As a result of the Group expanding, the management team of Metrodome will be further strengthened with Steve Winetroube moving from his role as a non-executive director to a full time role as chief operating officer for the Group. In addition, Peter Urie will move back into a full time role as chief executive officer of Hollywood Classics. Both appointments take place with immediate effect.
Application has been made for the shares issued in the Placing, on conversion of the Loan Notes and in satisfaction of fees to be admitted to trading on AIM and it is expected that their admission will become effective at 7.00 a.m. on 10 August 2011. Following admission the issued share capital of the Company will comprise 280,567,915 ordinary shares.
The Placing and the conversion of Loan Notes both strengthen the Company's balance sheet. The Company has also secured Euros EUR930,000 of additional loan facilities from its bankers, Coutts.
Mark Webster, Chairman of Metrodome, commented:
"This important acquisition is the next step in our mission to become one of the leading independent rights management groups in the UK providing independent producers and other intellectual property owners with a comprehensive solution for worldwide exploitation of their IP and content across all platforms. Hollywood Classics is an excellent company and one which offers revenue upsides through scale and an international reach. It is an excellent endorsement from the market that we were able to raise the entire consideration monies, which confirms investors belief in Metrodome's continued expansion and development. I am delighted to welcome Luke Johnson to the Board; Luke joins us with a huge amount of cross-sector experience which I am sure will prove invaluable in the next stage of our evolution.
As a result of this placing and acquisition, Metrodome will look to start paying a dividend in 2012."
For further information please visit www.metrodomegroup.com, or contact:
Metrodome Group plc Mark Webster / Deborah Brown Tel: 020 7535 7300 Charles Stanley Securities plc Dugald J.Carlean / Karri Vuori Tel: 020 7953 6000 Tavistock Communications John West / Lydia Eades Tel: 020 7920 3150
For the purposes of AIM Rule 17 (Schedule 2 (g)) in relation to the appointment of Luke Oliver Johnson (aged 49) the Company discloses the following:
Mr Johnson currently holds the following directorships/partnerships:
Cedar Pharma Ltd
Giraffe Concepts Ltd
Risk Capital Ltd
The Cobden Club Ltd
Patisserie Holdings Ltd
Synarbor PLC
APT Controls Ltd
Superbrands Ltd
Spice Bakery Ltd
Risk Capital Partners LLP
Risk Capital Partners II (GP) Ltd
Risk Capital Partners II (Scotland) Ltd
Beak Street Films Ltd
Theatre Investment Fund Ltd
Flour Power City Ltd
Automotive Repair Solutions Ltd
RSA Adelphi Enterprises Ltd
Phaidon Press Ltd
Feng Sushi Ltd
The Entrepreneurial Exchange (London) Ltd
3Sixty Restaurants Ltd
Playful Productions LLP
Bread Holdings Ltd
AKA Group Ltd
Fiery Dragons Ltd
Draft House Holding Ltd
Mr Johnsons Directorships / Partnerships held in the last 5 years:
Channel Four Television Corporation
Interquest Group plc
Seafood Holdings Ltd
4Ventures Ltd
Acquisitor plc
Assembly Theatre Ltd
Acquisitor Holdings Ltd
Bookshop Acquisitions Ltd
Diverse Holdings Ltd
Elderstreet VCT plc
GRA Acquisition Ltd
Healthy Living Centres plc
Integrated Dental Holdings Ltd
Keel Haul Ltd
Mayfair Gaming Ltd
Pinco 1771 Ltd
Loewy Group Ltd
East Ltd
The Riverside Trust Ltd
Signature Restaurants Ltd
Third Stage Productions Ltd
Details of Directorships / Partnerships held where receivers were appointed:
-- Just Tyres Ltd - entered administrative receivership October 2001.
-- Sunday Business Newspapers Limited -entered administrative receivership in July 1997.
-- Utility Cable PLC - entered administrative receivership in September 1998.
-- Income Tax Professionals Limited - accountancy services; creditors' voluntary liquidation in May 1999.
-- Bookshop Acquisitions Ltd - Borders book retailer; Sold to Valco in July 2009 - the business went into administration in November 2009.
Save as disclosed above, there are no further disclosures to be made in accordance with Rule 17 and Schedule 2 (g) of the AIM Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEASPEFAPFEFF
1 Year Metrodome Chart |
1 Month Metrodome Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions