Aztec Shaffer Bid Update

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (AS AMENDED) (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("EUWA")).  UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

16 April 2021

ARENA EVENTS GROUP PLC

("Arena" or the "Company") 

Aztec Shaffer Bid Update

Arena Events Group plc (AIM: ARE) is pleased to announce that, further to the announcement on 14 April 2021, NewCo's bid for Aztec Shaffer, of which Arena is a party, has today been approved at the sale hearing at the United States Bankruptcy Court for the Southern District of Texas.

Arena and the Co-Bidders will now move to complete the Aztec Shaffer acquisition, with completion expected by the end of April. This will include the payment of Arena's equity contribution of $3.35 million for its 50% equity stake in NewCo.

Defined terms in this announcement shall have the same meaning as those in the RNS release on 29 March 2021.

Enquires: