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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Paragon Entertainment Limited | LSE:PEL | London | Ordinary Share | KYG6906M1069 | ORD 0.1P (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.15 | 1.10 | 1.20 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
TIDMPEL
RNS Number : 8091S
Paragon Entertainment Limited
14 March 2019
Hot Features
Premium
Date: 14 March 2019
On behalf Paragon Entertainment Limited ("Paragon", the
of: "Company" or the "Group")
Paragon Entertainment Limited
Subscription to raise GBP150,000
Paragon is pleased to announce that it has raised in aggregate GBP150,000 through a subscription (the "Subscription") for 18,750,000 ordinary shares of 0.1 pence in the Company ("Ordinary Shares") at a price of 0.80 pence per Ordinary Share (the "Subscription Shares"), representing a premium of approximately 23.1 per cent to the closing mid-market price of an Ordinary Share of 0.65 pence on 13 March 2019.
The Subscription was undertaken by certain members of the Board, a manager and an existing shareholder known to the Company. The Subscription represents 9.99% of the existing share capital of Paragon and the Subscription Shares will be issued under the Company's existing authorities.
The funds raised from the Subscription will be used for general working capital and to increase the Company's headroom against its on-demand facility with HSBC.
Subscribers
The following Directors, manager and existing shareholder participated in the Subscription:
Director Role Shareholding Number Shareholding Percentage
prior to of Ordinary on Admission of the enlarged
Admission Shares issued share
subscribed capital held
for in on Admission
the Subscription
Non-Executive
Mark Taylor(1) Chairman 10,876,961 5,250,000 16,126,961 7.81%
--------------- ------------- ------------------ -------------- -----------------
Mark Pyrah CEO 19,366,341 5,000,000 24,366,341 11.8%
--------------- ------------- ------------------ -------------- -----------------
Neil Jefferies CFO 0 3,125,000 3,125,000 1.51%
--------------- ------------- ------------------ -------------- -----------------
Tim North(2) Manager 0 375,000 375,000 0.18%
--------------- ------------- ------------------ -------------- -----------------
Colin Pyrah Shareholder 4,166,667 5,000,000 9,166,667 4.44%
--------------- ------------- ------------------ -------------- -----------------
(1) Subscription via Hemsby International Retirement Pension Scheme, a retirement scheme set up for the benefit of Mark Taylor
(2) Tim North's participation in the Subscription has undertaken by way of the conversion of a GBP3,000 balance payable to him by the Group into Subscription Shares
Further information is set out in the FCA disclosure tables below.
Related Party Transactions
The participation in the Subscription by Mark Taylor, Mark Pyrah and Neil Jefferies are related party transactions under Rule 13 of the AIM Rules for Companies (the "AIM Rules"). With the exception of Mark Taylor, Mark Pyrah and Neil Jefferies (together the "Participating Directors"), who are treated as related parties due to their participation in the Subscription, the independent Director, being David Bridgford, who did not participate in the Subscription, having consulted with finnCap Ltd ("finnCap") in its capacity as the Company's nominated adviser for the purposes of the AIM Rules, consider the terms on which the Participating Directors will participate in the Subscription to be fair and reasonable insofar as the Company's shareholders are concerned.
Admission
The issue of the Subscription Shares is conditional on their admission to trading on AIM ("Admission"). Application is being made for the Subscription Shares to be admitted to trading on AIM and it is expected that Admission will become effective and dealing in the Subscription Shares will commence on or around 20 March 2019. The Subscription Shares will rank pari passu with the existing Ordinary Shares.
Following Admission, the total issued share capital of the Company will be 206,430,550. The above figure of 206,430,550 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 the Company under the FCA's Disclosure and Transparency Rules.
Notice of Results
The Company expects to announce full year results for the year ended 31 December 2018 in May 2019.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For further information: Paragon Entertainment Limited Neil Jefferies (Finance Director) Mark Taylor (Non-Executive Chairman) finnCap Ltd 01904 608020 Julian Blunt / Simon Hicks (corporate finance) Alice Lane (ECM) 020 7220 0500
About Paragon
Paragon Entertainment Limited (AIM:PEL) is an award winning provider of attraction services from initial design production and consulting through to the fit out and installation of themed attractions, heritage exhibits, museums, aquariums and water parks, inter alia. Paragon Entertainment is the holding company for Paragon Creative Limited.
The Group's projects have included:
-- The build of Rolling Stones Exhibitionism at the Saatchi Gallery, London; -- The design and build of Kidzania, London;
-- The design and build of galleries at the Olympic Museum for the IOC in Lausanne, Switzerland;
-- The design and build of the galleries at The National Museum of Kazakhstan; -- The design and build of Titanic Belfast; and -- The thematic build of the Wallace and Gromit ride at Blackpool Pleasure Beach.
The Group listed on AIM in 2011. Further information can be found at http://www.paragonent.com.
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 Mark Taylor
------------------------------- ------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------
a) Position/status Non-Executive Chairman
------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Paragon Entertainment Limited
------------------------------- ------------------------------------
b) LEI 213800SQL72GNAE2WE08
------------------------------- ------------------------------------
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 the Ordinary shares of 0.1p
Financial instrument,
type of instrument
Identification code KYG6906M1069
------------------------------- ------------------------------------
b) Nature of the transaction Subscription for Ordinary Shares
------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
0.8p 5,250,000
----------
------------------------------- ------------------------------------
d) Aggregated information: Subscription for 5,250,000 Ordinary
* Aggregated volume Shares at a price of 0.8 pence per
Ordinary Share
* Price
------------------------------- ------------------------------------
e) Date of the transaction 13 March 2019
------------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Pyrah
------------------------------- ------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Paragon Entertainment Limited
------------------------------- ------------------------------------
b) LEI 213800SQL72GNAE2WE08
------------------------------- ------------------------------------
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 the Ordinary shares of 0.1p
Financial instrument,
type of instrument
Identification code KYG6906M1069
------------------------------- ------------------------------------
b) Nature of the transaction Subscription for Ordinary Shares
------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
0.8p 5,000,000
----------
------------------------------- ------------------------------------
d) Aggregated information: Subscription for 5,000,000 Ordinary
* Aggregated volume Shares at a price of 0.8 pence per
Ordinary Share
* Price
------------------------------- ------------------------------------
e) Date of the transaction 13 March 2019
------------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Neil Jefferies
------------------------------- ------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------
a) Position/status CFO
------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Paragon Entertainment Limited
------------------------------- ------------------------------------
b) LEI 213800SQL72GNAE2WE08
------------------------------- ------------------------------------
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 the Ordinary shares of 0.1p
Financial instrument,
type of instrument
Identification code KYG6906M1069
------------------------------- ------------------------------------
b) Nature of the transaction Subscription for Ordinary Shares
------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
0.8p 3,125,000
----------
------------------------------- ------------------------------------
d) Aggregated information: Subscription for 3,125,000 Ordinary
* Aggregated volume Shares at a price of 0.8 pence per
Ordinary Share
* Price
------------------------------- ------------------------------------
e) Date of the transaction 13 March 2019
------------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------
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.
END
IOEJJMLTMBMBBAL
(END) Dow Jones Newswires
March 14, 2019 03:01 ET (07:01 GMT)
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