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Year-end trading update

26 Feb 2015 15:45

RNS Number : 0061G
Reach4Entertainment Enterprises PLC
26 February 2015
 



26 February 2015

reach4entertainment enterprises plc

('r4e', the 'Company' or the 'Group')

Year End Trading Update

r4e, the transatlantic media and entertainment marketing company, today provides an update on trading ahead of its preliminary results announcement for the year ended 31 December 2014, which will be announced before the end of May 2015.

Trading Update

As previously reported, the Group delivered an encouraging set of interim results and trading has continued to be solid in the second part of the year. The Company will report results for the full year in line with market expectations.

Although overall performance in 2014 has been strong, it is not expected that 2015 will match these results. As reported at interim, growth in 2014 has been generated from Spot & Company of Manhattan Inc. ('SpotCo'), the Group's New York based theatre and live entertainment business, whose performance included a number of significant one-off projects which are not likely to be repeated in 2015.

The Company is currently funded by a significant bank loan. The Directors are in discussions with the Company's bank and third parties on how best to restructure this bank loan or replace it altogether. Whilst there can be no guarantee that these discussions will be successful or that an agreement will be reached with the Company's bankers, the Directors of r4e remain hopeful that a satisfactory resolution will be achieved. The Company has, to date, made all the required repayments under the existing bank facility agreement and is not in breach of the financial covenants in the agreement. Further updates will be provided as and when appropriate.

Ends

Enquiries:

reach4entertainment +44 (0) 20 7968 1655

David Stoller, Executive Chairman

Blythe Weigh Communications (Financial PR) +44 (0) 20 7138 3204

Alexandra Shilov +44 (0) 7989 394027

Eleanor Parry +44 (0) 7551 293620

 

Allenby Capital (Nominated Adviser and Broker) +44 (0)20 3328 5656

Jeremy Porter / James Reeve (Corporate Finance) 

Katrina Perez/Kelly Gardiner (Corporate Broking)

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Date   Source Headline
31st Dec 20151:24 pmRNSTotal Voting Rights
10th Dec 20158:50 amRNSHolding(s) in Company
9th Dec 20157:00 amRNSHolding(s) in Company
8th Dec 201512:44 pmRNSHolding(s) in Company
4th Dec 20154:24 pmRNSHolding(s) in Company
4th Dec 201511:50 amRNSCompletion of Bank Refinancing
3rd Dec 20155:17 pmRNSHolding(s) in Company
3rd Dec 20153:06 pmRNSHolding(s) in Company
3rd Dec 20159:46 amRNSHolding(s) in Company
2nd Dec 201510:22 amRNSResult of GM and Total Voting Rights
13th Nov 201512:15 pmRNSPlacing, Bank Refinancing, Capital Reorg & GM
10th Nov 20158:40 amRNSSpotCo repayment agreement
6th Nov 20157:00 amRNSFurther re restructuring and trading update
30th Oct 20153:55 pmRNSFurther update on restructuring agreement with AIB
13th Oct 20159:37 amRNSFurther re Consultancy Contracts
28th Sep 20157:00 amRNSHolding in Company
25th Sep 20157:00 amRNSNew Debt Facility
18th Sep 20155:55 pmRNSConsultancy Contracts
9th Sep 20157:00 amRNSInterim Results
10th Jul 20153:45 pmRNSDirector/PDMR Shareholding
30th Jun 201511:20 amRNSStatement from the GM and the Results of the AGM
30th Jun 20157:00 amRNSAGM Statement
10th Jun 20157:00 amRNSRestructuring Agreement with AIB
3rd Jun 20154:29 pmRNSNotice of AGM and GM
3rd Jun 201512:30 pmRNSHolding(s) in Company
27th May 20157:00 amRNSFinal Results
22nd May 20153:10 pmRNSHolding(s) in Company
14th May 20157:00 amRNSHolding(s) in Company
13th May 201511:12 amRNSHolding(s) in Company
11th May 20156:10 pmRNSTrading Statement
26th Feb 20153:45 pmRNSYear-end trading update
20th Feb 20154:55 pmRNSHolding(s) in Company
4th Dec 20145:47 pmRNSHolding(s) in Company
14th Nov 20147:00 amRNSTrading Update
10th Nov 20147:00 amRNSHolding(s) in Company
1st Oct 20147:00 amRNSChange of Nominated Adviser and Broker
18th Sep 201410:17 amRNSNotification of Major Interest in Shares
16th Sep 20148:59 amRNSHolding(s) in Company
15th Sep 20147:00 amRNSInterim Results
3rd Sep 20144:10 pmRNSTR-1: Notification of Major Interest in Shares
3rd Sep 20143:27 pmRNSNotice of Interim Results
30th Jun 20141:24 pmRNSResult of AGM
20th Jun 20147:00 amRNSTrading Update
3rd Jun 201410:30 amRNSRevised Notice of Annual General Meeting
22nd May 20147:00 amRNSNotice of AGM
10th Apr 20147:00 amRNSPreliminary results for year ended 31 December 13
8th Apr 20147:00 amRNSSuccessful Bank Refinancing
6th Feb 20147:00 amRNSYear End Trading Update
23rd Jan 20147:00 amRNSr4e granted 17% shareholding in digital platform
16th Jan 20147:00 amRNSAppointment of Joint Corporate Broker
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