Reach4Entertainment Enterprises PLC Completion of Acquisition (6338T)

TIDMR4E

RNS Number : 6338T

Reach4Entertainment Enterprises PLC

21 March 2019

21 March 2019

reach4entertainment enterprises plc

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

Completion of Acquisition

Further to the announcement made on 22 February 2019 and following shareholder approval at the Company's General Meeting on 15 March 2019, reach4entertainment enterprises plc, the entertainment marketing communications group, is pleased to announce that it has successfully completed the acquisition of Agency Press Limited (trading as "Sold Out"), a full-service advertising agency, specialising in arts and entertainment.

Commenting on the acquisition, Lord Michael Grade, Chairman of r4e, said: "We would like to thank both new and existing investors for their support, which has enabled r4e to complete the acquisition of Sold Out. This is a truly exciting development for the Group. Sold Out's impressive client base and long track-record of delivering successful campaigns makes it an ideal addition to the r4e family. We look forward to working closely with the Sold Out team and utilising their skills across the Group."

Following completion of the acquisition, 20,833,333 new ordinary shares of 1.2 pence each in the capital of the Company ("New Ordinary Shares") have been issued by the Company to the founder of Sold Out, Adrian Francis, pursuant to the Acquisition (the "Consideration Shares"). Application has been made for the 20,833,333 New Ordinary Shares to be admitted to trading on AIM. It is expected that Admission and dealings in the 20,833,333 New Ordinary Shares will commence at 08:00 a.m. on 22 March 2019.

Following the issue of the Consideration Shares, the Company's total issued share capital will consist of 1,276,430,385 Ordinary Shares, of which none are held in treasury. The figure of 1,276,430,385 may therefore 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Defined terms used in this announcement will have the meanings (unless the context otherwise requires) set out in the circular dated 22 February 2019.

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

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 
 Jen Clarke 
 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.

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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

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March 21, 2019 11:16 ET (15:16 GMT)