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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
3rd Jan 201411:55 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
25th Nov 20137:00 amRNSTrading Update
14th Nov 201312:08 pmRNSTR-1: Notification of Major Interest in Shares
10th Sep 20137:00 amRNSInterim Results
30th Aug 201310:47 amRNSNotice of Results
19th Aug 20135:43 pmRNSHolding(s) in Company
31st Jul 20133:05 pmRNSHolding(s) in Company
30th Jul 20137:00 amRNSHeads of Terms Agreement
22nd Jul 20137:00 amRNSTrading Update and Board Change
17th Jun 20131:46 pmRNSResult of AGM
14th Jun 20137:00 amRNSr4e clients scoop 14 Tony Awards
23rd May 20137:00 amRNSTrading Update and Office Relocation
20th May 201312:58 pmRNSNotice of AGM & Change of Reg Office Address
7th May 20137:00 amRNSr4e clients feature at industry awards
11th Apr 20137:00 amRNSPreliminary results for the year to 31 Dec 2012
3rd Apr 20131:29 pmRNSNotice of Results
11th Mar 20137:00 amRNSChange of Adviser
18th Feb 20137:00 amRNSAppointment of Joint Corporate Broker
28th Jan 20132:41 pmRNSHolding(s) in Company
28th Jan 20137:00 amRNSTrading Update
2nd Jan 20138:37 amRNSEvents Division Secures First Contracts
26th Nov 20127:00 amRNSDirector/PDMR Shareholding
15th Nov 20127:00 amRNSBanking Covenants
15th Nov 20127:00 amRNSEarn out update
22nd Oct 201212:59 pmRNSHolding(s) in Company
17th Oct 20122:46 pmRNSHolding(s) in Company
16th Oct 20126:03 pmRNSHolding(s) in Company
12th Oct 20127:00 amRNSPlacing, Issue of Equity & Total Voting Rights
12th Sep 20127:00 amRNSInterim Results
29th Jun 201212:07 pmRNSResult of AGM
29th Jun 201210:53 amRNSEarn-out update
22nd Jun 20125:50 pmRNSRe AIM Rule 17
22nd Jun 201212:46 pmRNSHolding(s) in Company
13th Jun 20123:35 pmRNSHolding(s) in Company
1st Jun 20124:22 pmRNSNotice of AGM
31st May 201212:13 pmRNSTR-1: Notification of Major Interest in Shares
23rd May 20127:00 amRNSPreliminary Final Results
11th May 20127:00 amRNSChange of Name
10th May 20128:56 amRNSDirector's Dealing
8th May 20127:00 amRNSTrading Update
15th Mar 20122:44 pmRNSDirectorate Change
9th Feb 20121:36 pmRNSDirector's Dealing
30th Jan 20127:00 amRNSDirector/PDMR Shareholding
26th Jan 201211:12 amRNSDirector/PDMR Shareholding
26th Jan 20129:22 amRNSDirector/PDMR Shareholding
23rd Jan 20127:01 amRNSTrading Update/Change of Accounting Ref Date-Amend
5th Oct 20118:00 amRNSNew Division - Pivotal Interactive
3rd Oct 20117:00 amRNSTrading Statement
22nd Aug 20117:00 amRNSBoard Appointment
12th Aug 20114:25 pmRNSDirector/PDMR Shareholding
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