20 Aug 2020 07:42
20 August 2020
reach4entertainment enterprises plc
("r4e" or "the Company" or "the Group")
Claim
Further to reports in the media, reach4entertainment enterprises plc (AIM: R4E), the integrated international marketing group in the live performance and entertainment markets, confirms that the Company's subsidiary Spot and Company of Manhattan ("SpotCo") filed suit on 5 August 2020 to recover at least $6.3m that consists of money owed to SpotCo by a client or that SpotCo's client owes to media outlets for which SpotCo does business. On 14 August, the client filed a separate complaint against SpotCo which SpotCo will vigorously defend.
The Company continues to believe that all amounts sought by SpotCo are recoverable. Further announcements will be made as and when necessary.
For information, please contact:
reach4entertainment enterprises plc Marc Boyan, CEO Paul Summers, COO | Phone: +44 (0)20 3978 8590 |
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Luther Pendragon | Phone: +44 (0)20 7618 9100 |
Harry Chathli | Email: r4e@luther.co.uk |
Alexis Gore |
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Joe Quinlan |
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Grant Thornton, NOMAD | Phone: +44 (0)20 7383 5100 |
Philip Secrett |
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Jen Clarke |
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Seamus Fricker |
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Dowgate Capital, Broker | Phone: +44 (0)20 3903 7715 |
James Serjeant |
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David Poutney |
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About r4e
reach4entertainment enterprises plc ("r4e") operates a collection of theatrical, film and live entertainment marketing, PR, advertising and display agencies, across the world. The Company uses its extensive experience in the live entertainments space to create value through investing in innovative and established agencies that provide communications services to a range of clients involved with theatre, film, concerts and more. For further information on r4e, you are invited to visit the Company's website at www.r4e.com.