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Notice of Results, Q1 update, director holding

29th Apr 2016 07:00

RNS Number : 7433W
Reach4Entertainment Enterprises PLC
29 April 2016
 

29 April 2016

 

reach4entertainment enterprises plc

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

 

Notice of Final Results and Q1 Update

Director's shareholding

 

r4e, the transatlantic media and entertainment marketing company, is pleased to confirm that it will announce its annual results for the year ended 31 December 2015 on Wednesday, 25 May 2016.

 

Commenting on the year so far, David Stoller, Executive Chairman, r4e, said:

 

"2015 was a transformative year for the business during which the Company was restructured and a new base was established for developing the business. I am glad to be able to report that the Company has had an excellent start to the new financial year, with trading in line with management expectations in Q1, and our results for 2015 are in line with market expectations, as previously confirmed."

 

Director Shareholding

 

Further to the announcement on 10 July 2015, the Company has been advised that, despite much effort by Mr Stoller, the expected transfer of 901,615 ordinary shares in the Company to David Stoller (Executive Chairman) has not taken place as expected due to the inability of the other party to comply with the settlement agreement entered into at the time. The parties have now agreed that a cash payment will be made to Mr Stoller instead and Mr Stoller has indicated to the Company that he intends to invest this in purchasing existing ordinary shares in r4e when he is able to and the Company is not in a close period. Accordingly, David Stoller's beneficial interest in ordinary shares in the Company is currently 23,927,358 shares, representing approximately 4.99 per cent. of the issued share capital.

 

Enquiries:

 

reach4entertainment enterprises plc

David Stoller, Executive Chairman

 

+44 (0) 20 7968 1655

Allenby Capital (Nominated Adviser and Broker)

Jeremy Porter / James Reeve

 

+44 (0) 20 3328 5656

Novella Communications (Financial PR)

Tim Robertson / Ben Heath

+44 (0) 20 3151 7008

+44 (0) 7900 927650

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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