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Deferred Consideration Shares & Director's dealing

2 Oct 2015 09:23

RNS Number : 0505B
TLA Worldwide PLC
02 October 2015
 

2 October 2015

 

TLA Worldwide PLC

 

("TLA", "the Company" or "the Group")

 

Deferred Consideration Shares for the acquisition of

Peter E Greenberg & Associates LLC,

Director's dealing and issue of new shares

 

 

 

TLA Worldwide plc (AIM: TLA), the athlete representation and sports marketing business, announces that the Deferred Consideration Shares ("Shares") of 3,226,029 due to the vendors of Peter E Greenberg & Associates LLC ("PEG"), under the terms of the Acquisition Agreement dated 16 October 2012 between the Group and the vendors of PEG, are to be issued. The Shares are subject to a three month lock-in agreement and an orderly market undertaking thereafter.

 

Application has been made for a total of 3,226,029 new ordinary 2 pence shares to be issued and admitted to trading on AIM on 5 October 2015. The new Shares will rank pari passu with the existing Ordinary shares of the Company.

 

TLA also announces that, in accordance with the terms of its Long Term Incentive Plan ("LTIP"), and achievement of a 50 pence share price for period of 90 consecutive days, the Company will issue and allot 3,648,624 Ordinary shares of 2 pence each. Under the provisions of the LTIP, the shares that are being issued are in exchange for shares that were subscribed for in a subsidiary of TLA, at 1 pence per share. These shares are now being exchanged for shares in the Company, following achievement of certain required performance criteria.

 

Of the shares being issued, 1,459,450 are being issued to International Sports Pte Limited, of which Bart Campbell (TLA Director) is the beneficial owner. Also 1,459,450 shares are being issued to Michael Principe (TLA Director) and a further 729,724 shares are being issued to Dwight Mighty (Chief Operating Officer and Company Secretary).

 

Following the issue, International Sports Pte Limited, and therefore, Bart Campbell. will have a voting interest in 6,469,120 Ordinary shares; Michael Principe will have voting interest in 7,117,567 Ordinary shares; and Dwight Mighty will have voting interest in 4,161,740 Ordinary shares representing 4.53 per cent; 4.98 per cent; and 2.91 per cent of the Company's total issued share capital respectively.

 

Application has been made for a total of 3,648, 624 new Ordinary shares in the Company to be issued and admitted to trading on AIM and is expected on 5 October 2015. These new shares will rank pari passu with the existing Ordinary shares of the Company.

 

Following the admission of these shares, and shares issued to the vendors of PEG, the Company's total ordinary share capital will be 142,959,325 Ordinary shares of 2 pence each. This figure (142,959,325 Ordinary shares) may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

-Ends-

 

Enquiries:

 

TLA Worldwide

Michael Principe, Chief Executive Officer

+1 212 645 2141

Numis Securities

Nick Westlake, Oliver Hardy (Nomad)

+44 20 7260 1000

David Poutney (Broker)

Luther Pendragon

Harry Chathli, Alexis Gore

+44 20 7618 9100

 

 

About TLA Worldwide

 

TLA Worldwide is a leading athlete representation, event management and sports marketing group quoted on London's AIM. The Group derives revenues from long term agency relationships with many prominent US and international sports stars, broadcasters and media personalities associated with major sports including the MLB, NFL, NBA, PGA tour, AFL and Olympians and Cricketers. In addition, it also provides a range of services in respect of media consultancy, sports sponsorship and event creation and ownership, including the International Champions Cup tournament in Australia. With over 140 full-time personnel, TLA Worldwide serves its clients from 10 locations worldwide including its offices in London, UK; New York Newport Beach, California, USA; Melbourne, Sydney, Perth and Adelaide, Australia. For more information, please visit www.tlaww-plc.com.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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