Reach4Entertainment Enterprises PLC Capital Reduction Update (2147H)

TIDMR4E

RNS Number : 2147H

Reach4Entertainment Enterprises PLC

30 July 2019

30 July 2019

reach4entertainment enterprises plc

("r4e" or "the Company" or "the Group")

Capital Reduction Update

Further to the Company's announcement on 16 July 2019, regarding the Capital Reduction, the final hearing held today at the High Court of Justice (the "Court") approved the Company's order to confirm a reduction of the issued share capital of the Company and cancellation of the Company's share premium account and capital redemption reserve.

The Capital Reduction involves:

-- the cancellation of the amount standing to the credit of the Company's share premium account and capital redemption reserve;

   --    the cancellation of the 74,894,792 deferred shares with a nominal value of GBP0.02 each; and 
   --    a reduction in the nominal value of the ordinary shares from GBP0.005 each to GBP0.001 each. 

Application has been made to the London Stock Exchange for admission of 1,276,430,385 Ordinary Shares to trading on AIM ("Admission") and it is expected that Admission will take place and that trading will commence on or around 1 August 2019.

The number of ordinary shares in issue following the Capital Reduction remains unchanged at 1,276,430,385.

For information, please contact:

 
   reach4entertainment enterprises   Phone: [phone] 
    plc 
    Marc Boyan, CEO 
    Paul Summers, COO 
 
 Yellow Jersey PR                    Phone: [phone] / +44 
                                      (0)7544 275 882 
 Charles Goodwin                     Email: [e-mail] 
 Harriet Jackson 
 
 Grant Thornton, NOMAD               Phone: [phone] 
 Philip Secrett 
 Jamie Barklem 
 Seamus Fricker 
 
 Dowgate Capital, Broker             Phone: [phone] 
 James Serjeant 
 David Poutney 
 
 

Notes to Editors

reach4entertainment enterprises plc ("r4e") operates a collection of theatrical, film and live entertainment marketing, PR, advertising and display agencies, across the world. The Company uses its extensive experience in the live entertainments space to create value through investing in innovative and established agencies that provide communications services to a range of clients involved with theatre, film, concerts and more.

For further information on r4e you are invited to visit the Company's website at www.r4e.com.

Spot and Company of Manhattan, INC.

A global leading full-service arts and live entertainment advertising and marketing agency. In an ever-changing media landscape, it stays ahead of the curve with a mix of bold positioning through interactive, broadcast, environmental and print campaigns.

https://www.spotnyc.com

Dewynters Limited

A leading independent arts, events and live entertainment marketing specialist. The agency's work in theatre, museums, attractions, sport and music is seen right across the globe.

http://www.dewynters.com

Newman Displays Limited

The UK's leading large-scale outdoor signage, front of house, marquee display and installation company. Clients include major West End theatre productions, leading film companies, cinemas and major global events.

http://www.newman-displays.com

Wake the Bear Limited

A marketing communications agency that supports businesses to invent, reposition and regenerate their brands in order to grow. The agency carries out brand strategy, communications planning and end-to-end activation.

http://wakethebear.co.uk

Story House PR Limited

A new public relations agency for the theatre and live entertainment industries, operating in the UK and internationally. The agency crafts engaging campaigns for audiences, driven by strategy: the right channel, at the right time, with the right message. Fully integrating PR with paid media and social, ensuring all elements of a campaign are working together, Story House collaborates with its clients to ensure its work is dedicated to realising their ambitions.

www.storyhousepr.co.uk

Buzz 16 Productions

Buzz 16 is an independent production company, which creates both short and long form sports orientated content. The Company was co-founded by former Manchester United player and respected broadcaster, Gary Neville, along with former Sky Sports Premier League producer, Scott Melvin.

https://buzz16.uk

Sold Out

Sold Out is an independent full service advertising agency, specialising in arts and entertainment for over 25 years.

https://soldout.london

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July 30, 2019 06:55 ET (10:55 GMT)