25 March 2021
Arena Events Group plc
("Arena", the "Company" or the "Group")
Finance Facility Extension
Arena Events Group plc, the integrated event solutions business, announces that it has agreed with its significant shareholder, Lombard Odier Investment Management ("LOIM"), to extend the repayment date of the short term financing facility provided to the Company (as announced on 11 November 2019 and subsequently on 26 March 2020) (the "Finance Facility") from 25 March 2021 to 25 September 2021.
All amounts drawn under the Finance Facility will continue to bear interest at previously agreed rates for the relevant periods which will be compounded quarterly and rolled on the principal amount repayable on expiry. All other terms of the Finance Facility remain as announced on 11 November 2019 and 26 March 2020.
LOIM is classified as a "substantial shareholder" and is thus considered a "related party" under the AIM Rules. Therefore, the extension of the Finance Facility is deemed to constitute a related party transaction for the purposes of AIM Rule 13. The Board, having consulted with Cenkos Securities plc, the Company's nominated adviser, considers that the terms of the Finance Facility extension are fair and reasonable insofar as the Company's shareholders are concerned.
Enquiries:
| Arena Events Group plc Greg Lawless (CEO) Steve Trowbridge (CFO)
Cenkos Securities (Nomad and Broker) |
Via Alma
+44(0)207 397 8900 |
| Max Hartley / Max Gould (Corporate Finance) Julian Morse (Sales) |
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Alma PR (Financial PR) |
+44(0)203 405 0205 |
Josh Royston, John Coles, Helena Bogle
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