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Reach4Entertainment makes amendment to debt facility with AIB

Fri, 06th Nov 2015 09:35

(ShareCast News) - Reach4Entertainment Enterprises has proposed amendments to restructure its existing £14.8m loan facility with AIB Group.Under the terms of the amendment, the Irish lender will no longer convert £5.2m of the outstanding principal debt due under the existing facility into new ordinary shares in the company or receive a European put option over the shares.Reach4Entertainment said that instead, AIB will be given warrants over the same value of the shares exercisable only once the closing mid-market price of an ordinary share reaches 5p.All other terms of the agreement as announced on 10 June remain the same, the company added.The media and marketing group also said on Friday that it expects turnover for the year ended 31 December to be in line with market expectations. Still, it said full year results will be subject to earnings before interest, tax, depreciation and amortisation for the fourth quarter.Executive chairman David Stoller said: "We are grateful for the continuing support shown to r4e by AIB and their commitment to working with the company to achieve an acceptable settlement of our bank facilities with them."Whilst trading for the year has been slightly behind where we expected to be at this stage, we are confident that the successful completion of the refinancing of our bank debt will position the company well for future growth."At 0950 GMT, shares were down 14% at 2.05p.
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20 Jun 2014 07:15

Strength On Broadway Shows Lifts Reach4Entertainment

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10 Apr 2014 10:57

UK WINNERS & LOSERS: M&S, WH Smith Drop Sharply After Early Strength

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday. ------- FTSE 100 - WINNERS ------- Resolution, up 1%. The firm said its insurance and pensions provider Friends Life is scrapping active member

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10 Apr 2014 09:40

reach4entertainment Confident For 2014 As Profit Jumps In 2013

LONDON (Alliance News) - reach4entertaiment enterprises PLC Thursday expressed confidence for further progress in 2014 and beyond, as it saw pretax profit nearly double in 2013. reach4entertainment is a media, marketing and event management company with operations in the New York and London

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8 Apr 2014 09:44

Reach4Entertainment secures new agreement on lending facilities

Integrated media business company Reach4Entertainment cheered investors on Tuesday by announcing the completion of a bank refinancing. The new agreement has a six-year term and a new interest rate of 3% above LIBOR on its £14.8m revolving credit facility. The first repayment of £0.2m is due in Apr

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8 Apr 2014 07:47

reach4entertainment To Save GBP220,000 From Bank Refinancing

LONDON (Alliance News) - reach4entertainment Enterprises PLC Tuesday said it expects to save about GBP220,000 in interest over 2014 after completing a bank refinancing with Allied Irish Bank Group (UK) PLC. In a statement, reach4entertainment said covenants have been agreed for a six-year t

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8 Apr 2014 07:29

UK MORNING BRIEFING: Bob Diamond Recruits CEO From Barclays

LONDON (Alliance News) - UK shares have opened lower Tuesday on a weak lead from the US and renewed concerns about Ukraine.

Barclays PLC has reached a settlement with Guardian Care Homes ahead of a court case that was being seen as the measure of whether customers w

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7 Feb 2014 17:17

CORRECT: Reach4entertainment Expects FY In Line; Targets Expansion

[Correcting the name of the recently announced initiative] LONDON (Alliance News) - Reach4entertainment Enterprises PLC Thursday said its performance improved over the course of its financial year and will therefore report results for the full-year in line with market expectations. In

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6 Feb 2014 12:13

Reach4entertainment Expects FY In Line; Targets Expansion

LONDON (Alliance News) - Reach4entertainment Enterprises PLC Thursday said its performance improved over the course of its financial year and will therefore report results for the full-year in line with market expectations. In a year end trading update ahead of its full-year results - to be

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6 Feb 2014 11:45

UK WINNERS & LOSERS: EasyJet And TUI Travel In Different Directions

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.

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FTSE 100 - WINNERS

Vodafone, up 2.9%. The telecommunications company has confirmed its ful

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6 Feb 2014 08:32

UK MORNING BRIEFING: Vodafone Gains, AstraZeneca Falls At Open

LONDON (Alliance News) - Vodafone has delivered results in line with expectations Thursday morning, helping to give UK share a positive start. Vodafone is up 1.4%.

Meanwhile, AstraZeneca has opened down 2.1% after reporting lower revenue and profit

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6 Feb 2014 08:31

UK MORNING BRIEFING:

LONDON (Alliance News) - Vodafone has delivered results in line with expectations Thursday morning, helping to give UK share a positive start. Vodafone is up 1.4%.

Meanwhile, AstraZeneca has opened down 2.1% after reporting lower revenue and profit

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23 Jan 2014 10:25

Reach4Entertainment Shares Rise As It Is Granted 17% Stake In Stage17

LONDON (Alliance News) - Shares in Reach4entertainment Enterprises PLC soared Thursday morning after it said it has been granted a 17% stake in digital theatre and arts entertainment platform Stage17 Inc, to support development. Stage 17 has been funded and developed by Stoller Family Partn

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25 Nov 2013 11:52

UK WINNERS & LOSERS: Airlines Soar, Oil Producers Slip After Iran Deal

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25 Nov 2013 10:31

Reach4entertainment Confident To Meet Full-Year Expectations On Improved Second Half

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25 Nov 2013 07:59

AIM IN BRIEF: UBC Media Confirms Agreement To Acquire 7digital

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