Last checked at 13 Sep 2017 11:36
Aeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media
13 September 2017
Aeorema Communications plc ('Aeorema' or the 'Company')
Completion of vendor placing and director dealings and
appointment of Joint Broker
Further to the announcement released earlier today, Aeorema Communications plc, the AIM-traded live events agency, announces that 3,426,500 ordinary shares in the Company have been sold by out-going Board members Peter Litten and Gary Fitzpatrick, though a placing conducted by Allenby Capital Limited at a price of 18p per ordinary share (the "Placing"). The incoming Joint Managing Directors, Steve Quah and Andrew Harvey, and existing non-executive director Richard Owen, have, in aggregate, purchased 281,010 of these shares and the balance was purchased by new and existing shareholders of the Company.
The changes in the shareholdings of the directors of the Company are set out in the table below:
Director | Number of Shares Purchased | Share Purchase Price | Number of shares held following the Director Purchase | % of Share Capital held following the Director Purchase |
Steve Quah | 181,010 | 18p | 481,010 | 5.31% |
Andrew Harvey | 50,000 | 18p | 130,000 | 1.44% |
Richard Owen* | 50,000 | 18p | 80,000 | 0.88% |
*30,000 ordinary shares are held by Reverse Take-Over investments plc, of which Richard Owen is a director
The Board of Aeorema is now interested in 2,416,010 ordinary shares in the Company in aggregate, representing 26.69 per cent. of the issued share capital. In addition, Steve Quah holds options over 300,000 ordinary shares in the Company, representing 3.31 per cent. of its current issued share capital.
Following completion of the Placing, Peter Litten and Gary Fitzpatrick have stepped down from their Board positions and no longer have an interest in the Company's issued share capital.
Appointment of a joint broker
The Company is pleased to announce the appointment of Allenby Capital Limited as joint broker to the Company with immediate effect.
Chairman Mike Hale said:
"With a robust cash position of in excess of £1.2 million, as at our year end in June 2017, a reinvigorated Board and management team, industry leading products, and a prospective growth outlook, I believe the coming year will be an active one for our Company. I am pleased to report that my confidence in Aeorema's prospects is shared by my fellow board members and new and existing shareholders, as highlighted by the share purchases. With all the foundations in place for growth, I look forward to working with our new Joint Managing Directors to expand our industry leading live events operations whilst also identifying prospective value accretive growth opportunities. We look forward to updating shareholders on these exciting developments in due course.
"Finally, I would like to take this opportunity to give my great thanks to Peter and Gary for their consistent hard work and commitment. We wish them well in their future endeavours and look forward to enjoying their continued support going forward as we move into a new phase of growth."
**ENDS**
For further information visit www.aeorema.com or contact:
Mike Hale | Aeorema Communications plc | Tel: +44 (0) 20 7291 0444 |
Marc Milmo / Catherine Leftley | Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker) | Tel: +44 (0) 20 7894 7000 |
Jeremy Porter / John Depasquale / Liz Kirchner | Allenby Capital Limited (Joint Broker) | Tel: +44 (0)20 3328 5656 |
Isabel de Salis / Charlotte Page | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
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 | Steve Quah | ||||
2 | Reason for the notification | |||||
a) | Position/status | Director | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Aeorema Communications plc | ||||
b) | LEI | n/a | ||||
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 financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each
ISIN code: GB00B4QHH456 | ||||
b) | Nature of the transaction | |||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 13 September 2017 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Andrew Harvey | ||||
2 | Reason for the notification | |||||
a) | Position/status | Director | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Aeorema Communications plc | ||||
b) | LEI | n/a | ||||
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 financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each
ISIN code: GB00B4QHH456 | ||||
b) | Nature of the transaction | |||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 13 September 2017 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Richard Owen | ||||
2 | Reason for the notification | |||||
a) | Position/status | Director | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Aeorema Communications plc | ||||
b) | LEI | n/a | ||||
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 financial instrument, type of instrument Identification code | Ordinary shares of 12.5p each
ISIN code: GB00B4QHH456 | ||||
b) | Nature of the transaction | |||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 13 September 2017 | ||||
f) | Place of the transaction | London Stock Exchange | ||||