8 Jan 2018 07:00
8th January 2018
Arena Events Group plc
(the "Company" or the "Group")
Director/PDMR Dealing
Exercise of Option Agreement
and
Issue of Equity
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Arena Events Group plc (AIM: ARE) announces that on 5th January 2018 the Company exercised its call option in relation to the remaining loan notes in issue by the Group, held by Greg Lawless, CEO, and Gaitsford Investments Limited (a company owned and controlled by Greg Lawless) ("Gaitsford"). Accordingly Greg Lawless and Gaitsford have each sold the retained principal and accrued interest on the loan notes back to the Group and used the proceeds of such sale to subscribe for an aggregate of 2,513,541 new ordinary shares of 1p each ("New Ordinary Shares") to be issued by the Company. The New Ordinary Shares have a value equivalent to £1,382,448 at the price of 55p per share, representing the placing price of the Group's initial public offering.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 11 January 2018. Upon issue of the New Ordinary Shares, the total number of shares in issue and total voting rights will be 117,153,481. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
As a result of the call option exercise, Greg Lawless will have a total beneficial holding of 6,640,755 ordinary shares in the Company, representing 5.7% of the Company's then issued share capital.
Further information is disclosed below pursuant to Article 19 of the Market Abuse Regulation.
1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name   | 1. Greg Lawless 2. Gaitsford Investments Limited  | ||||
2  | Reason for the notification  | |||||
a)  | Position/status   | 1. Chief Executive Officer 2. Person closely associated with Greg Lawless | ||||
b)  | Initial notification /Amendment   | Initial | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name   | Arena Events Group plc | ||||
b) Â | LEI Â Â | 213800Z94NF6F4C9AD43 | ||||
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 1p each    ISIN: GB00BF0HYJ24   | ||||
b)  | Nature of the transaction   | Subscription of new ordinary shares | ||||
c) Â | Price(s) and volume(s) Â Â | Â
  | ||||
d)  | Aggregated information   - Aggregated volume   - Price   |    2,513,541  55p    | ||||
e)  | Date of the transaction   | 5 January 2018 | ||||
f)  | Place of the transaction   | Outside a trading venue | ||||
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Ends
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Enquiries
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Arena Events Group plc: | 0203 770 3838 |
Greg Lawless, CEO Piers Wilson, FD | |
Cenkos: | 020 7397 8900 |
Max Hartley, Camilla Hume (NOMAD) Julian Morse (Sales) Â | |
Alma PR: | 020 8004 4219 |
John Coles | |
Josh Royston Helena Bogle |
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