21 Jul 2016 07:00
Embargoed until 7h00 on Thursday, 21 July 2016
Paragon Entertainment Limited ("Paragon" or the "Company")
AGM Statement, Board Appointment, 2016 Half Year Results Update
Paragon Entertainment Limited (AIM: PEL), the AIM-listed attractions design and build company, will today hold its AGM. A slide presentation will be given at the meeting during which the Board will make the following statements in relation to current trading and prospects:
· Half year 2016 results will be released by the end of July 2016 and will show the following results:
o Revenue: £5.536m
o EBITDA: £0.282m
o Profit after tax: £0.106m
o Net debt: (£0.246m)
· Previous board guidance for 2016 of revenue of £11m and EBITDA of £0.5m remains unchanged, and
· John Dobson, Chief Operating Officer, has been appointed to the board of PEL.
Save for the above, the slide presentation will contain no new information of a price sensitive nature. The slide presentation will be available on the Paragon website (http://www.paragonent.com/) from 12.00 p.m. today.
Commenting on the forecasts, Mark Taylor, Executive Chairman of Paragon Entertainment, said:
"This is a solid result for Paragon and I am proud of the progress that we are making. Our contracted order book is progressing well and our potential pipeline is at a record level for the remainder of 2016 and beyond. It has required enormous commitment from our whole team and we are now well on track to continue delivering steady growth into the future. John's elevation to the Board reflects his invaluable contribution since joining Paragon. I look forward to working with him"
The following information regarding John Dobson, aged 49, is disclosed under Schedule 2(g) of the AIM Rules for Companies:
Current directorships and/or partnerships | Former directorships and/or partnerships (within the last five years) |
(none) | Essex Pension Trustees Limited |
| Bergen Pipe Supports Thailand Ltd |
Mr Dobson is the beneficial owner of 1,667,627 shares in Paragon, representing approximately 0.9% of the Company's issued share capital.
There are no further disclosures to be made under Schedule 2(g) of the AIM Rules for Companies.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information:
Paragon Entertainment Limited Mark Taylor (Chairman)
FinnCap Ltd Julian Blunt / Simon Hicks (corporate finance) Alice Lane (corporate broking) |
01904 680020
020 7220 0500
|
Notes to Editors:
Paragon Entertainment Limited (AIM:PEL) is an award winning provider of attraction services from initial design production and consulting through to the fit out and installation of themed attractions, heritage exhibits, museums, aquariums and water parks, inter alia.
Paragon Entertainment is the holding company for Paragon Creative Limited.
The Group's projects have included:
· The design and build of Kidzania, London;
· The design and build of galleries at the Olympic Museum for the IOC in Lausanne, Switzerland;
· The design and build of the galleries at The National Museum of Kazakhstan;
· The design and build of Titanic Belfast;
· The thematic build of the Wallace and Gromit ride at Blackpool Pleasure Beach;
· Licensing and distribution installations at Gullivers, Milton Keynes and Art Mall, Ukraine.
The Group listed on AIM in 2011.
Further information can be found at: http://www.paragonent.com/