Reach4Entertainment Enterprises PLC Completion of vendor placing and director holding (7902E)

TIDMR4E

RNS Number : 7902E

Reach4Entertainment Enterprises PLC

13 February 2018

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

Not for publication, distribution or release directly or indirectly, in whole or in part, into or in the United States, Australia, Canada, Japan, the Republic of South Africa or any other jurisdiction in which offers for sale would be prohibited by applicable law.

This announcement is not an offer to sell or a solicitation to buy securities in any jurisdiction, including the United States, Australia, Canada, Japan or the Republic of South Africa. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.

13 February 2018

reach4entertainment enterprises plc

("r4e" or the "Company")

Completion of vendor placing

and change in director shareholding

Further to the announcement made earlier today titled 'Proposed vendor placing', the Company announces that the accelerated bookbuild referred to therein has now closed and has been successful.

236,306,668 ordinary shares in the Company have been sold by Gate Ventures plc through a placing conducted by Allenby Capital Limited (the "Placing"), at a price of 1.5 pence per ordinary share (the "Placing Price"). The Placing shares have been placed out to new and existing shareholders of the Company, including strategic investors and Miroma r4e Holdings Limited, a company controlled by r4e's CEO.

Following completion of the Placing, Gate Ventures plc (of which Lord Michael Grade, Chairman of the Company, is Chairman) no longer holds any ordinary shares in the Company.

Directors' participation in the Placing

Miroma r4e Holdings Limited, a company wholly owned by Miroma Holdings Limited, of which Marc Boyan, CEO of r4e, is a director and the controlling shareholder, has subscribed for 10,000,000 shares in the Placing at the Placing Price. Marc Boyan, through Miroma r4e Holdings Limited, therefore now has an interest in 123,333,336 ordinary shares in the Company, representing approximately 12.28 per cent. of the Company's issued share capital.

Enquiries:

 
 reach4entertainment enterprises 
  plc 
 Marc Boyan, Chief Executive           [phone] 
  Officer                               1655 
 Allenby Capital (Nominated            [phone] 
  Adviser and Broker)                   5656 
 Jeremy Porter/James Reeve 
  Novella Communications (Financial    [phone] 
   PR)                                  7008 
 Tim Robertson/Toby Andrews 
 

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                       Marc Boyan 
---  -------------------------  ------------------------------------- 
 2    Reason for the notification 
---  ---------------------------------------------------------------- 
 a)   Position/status            Chief Executive Officer 
---  -------------------------  ------------------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  ------------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ---------------------------------------------------------------- 
 a)   Name                       reach4entertaiment enterprises 
                                  plc 
---  -------------------------  ------------------------------------- 
 b)   LEI                        213800JHWWJD1PKYGS67 
---  -------------------------  ------------------------------------- 
 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             Ordinary shares of 0.5p each 
       the financial              in reach4entertainment enterprises 
       instrument, type           plc 
       of instrument              Identification code (ISIN) 
                                  for reach4entertainment enterprises 
       Identification             plc ordinary shares: GB00B1HLCW86 
       code 
---  -------------------------  ------------------------------------- 
 b)   Nature of the              Purchase of shares 
       transaction 
---  -------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)      Price(s)   Volume(s) 
                                  ---------  ----------- 
                                   1.5p       10,000,000 
                                  ---------  ----------- 
---  -------------------------  ------------------------------------- 
 d)   Aggregated information     N/A 
       - Aggregated volume 
       - Price 
---  -------------------------  ------------------------------------- 
 e)   Date of the transaction    13 February 2018 
---  -------------------------  ------------------------------------- 
 f)   Place of the transaction   London Stock Exchange, AIM 
                                  (XLON) 
---  -------------------------  ------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 13, 2018 11:20 ET (16:20 GMT)