21 Dec 2016 17:18
The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
21 December 2016
reach4entertainment enterprises plc
('r4e', 'the Company' or 'the Group')
Issue of equity, PDMR shareholding and total voting rights
r4e, the transatlantic media and entertainment company, announces the issue of new ordinary shares of 0.5p each in the Company ("Ordinary Shares").
The Company has today issued 2,097,879 Ordinary Shares (the "New Shares") to Michael Hildebrandt, CEO of Dewynters GmBH ("Dewynters Germany"), the Group's German subsidiary, in accordance with the terms of his service agreement, as part of his remuneration package. The New Shares have been issued at a price of 2p per New Share. Application has been made for the New Shares to be admitted to trading on AIM ("Admission") and it is anticipated that Admission will occur on or around 29 December 2016.
David Stoller, Executive Chairman of the Company, commented:
'We are excited by the opportunity available to us in Germany. Having Michael at the helm, with his considerable knowledge of the market, positions us to be very successful in Germany.'
PDMR shareholding
Following the issue of the New Shares, Michael Hildenbrandt now has an interest in 2,097,879 Ordinary Shares, equivalent to 0.33% of the Company's total issued share capital, as enlarged by Admission.
Total voting rights
Following Admission, the Company's issued share capital will comprise 614,992,671 Ordinary Shares, with one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company is 614,992,671.
The above 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 to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
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 | Michael Hildebrandt | ||||
2 | Reason for the notification | |||||
a) | Position/status | CEO, Dewynters GmBH | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | reach4entertaiment enterprises 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 0.5p each in reach4entertainment Enterprises plc
Identification code (ISIN) for reach4entertainment Enterprises plc ordinary shares: GB00B1HLCW86 | ||||
b) | Nature of the transaction | Purchase of shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 20 December 2016 | ||||
f) | Place of the transaction | Outside of trading venue | ||||
Enquiries:
reach4entertainment enterprises plc | |
David Stoller, Executive Chairman | +44 (0) 20 7968 1655 |
Allenby Capital (Nominated Adviser and Broker) | +44 (0) 20 3328 5656 |
Jeremy Porter/James Reeve (Corporate Finance) | |
Katrina Perez/Kelly Gardiner | |
Novella Communications (Financial PR) | +44 (0) 20 3151 7008 |
Tim Robertson Toby Andrews |