Completion of vendor placing

RNS Number : 6433Q

Aeorema Communications Plc

13 September 2017

 

Aeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media

13 September 2017

Aeorema Communications plc ('Aeorema' or the 'Company')

Completion of vendor placing and director dealings and

appointment of Joint Broker

Further to the announcement released earlier today, Aeorema Communications plc, the AIM-traded live events agency, announces that 3,426,500 ordinary shares in the Company have been sold by out-going Board members Peter Litten and Gary Fitzpatrick, though a placing conducted by Allenby Capital Limited at a price of 18p per ordinary share (the "Placing"). The incoming Joint Managing Directors, Steve Quah and Andrew Harvey, and existing non-executive director Richard Owen, have, in aggregate, purchased 281,010 of these shares and the balance was purchased by new and existing shareholders of the Company. 

The changes in the shareholdings of the directors of the Company are set out in the table below:

Director	Number of Shares Purchased	Share Purchase Price	Number of shares held following the Director Purchase	% of Share Capital held following the Director Purchase
Steve Quah	181,010	18p	481,010	5.31%
Andrew Harvey	50,000	18p	130,000	1.44%
Richard Owen*	50,000	18p	80,000	0.88%

*30,000 ordinary shares are held by Reverse Take-Over investments plc, of which Richard Owen is a director

The Board of Aeorema is now interested in 2,416,010 ordinary shares in the Company in aggregate, representing 26.69 per cent. of the issued share capital. In addition, Steve Quah holds options over 300,000 ordinary shares in the Company, representing 3.31 per cent. of its current issued share capital.

Following completion of the Placing, Peter Litten and Gary Fitzpatrick have stepped down from their Board positions and no longer have an interest in the Company's issued share capital.

Appointment of a joint broker

The Company is pleased to announce the appointment of Allenby Capital Limited as joint broker to the Company with immediate effect.

Chairman Mike Hale said:

"With a robust cash position of in excess of £1.2 million, as at our year end in June 2017, a reinvigorated Board and management team, industry leading products, and a prospective growth outlook, I believe the coming year will be an active one for our Company.  I am pleased to report that my confidence in Aeorema's prospects is shared by my fellow board members and new and existing shareholders, as highlighted by the share purchases.   With all the foundations in place for growth, I look forward to working with our new Joint Managing Directors to expand our industry leading live events operations whilst also identifying prospective value accretive growth opportunities. We look forward to updating shareholders on these exciting developments in due course.

"Finally, I would like to take this opportunity to give my great thanks to Peter and Gary for their consistent hard work and commitment.  We wish them well in their future endeavours and look forward to enjoying their continued support going forward as we move into a new phase of growth."

**ENDS**

For further information visit www.aeorema.com or contact:

Mike Hale	Aeorema Communications plc	Tel: [phone]
Marc Milmo / Catherine Leftley	Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)	Tel: [phone]
Jeremy Porter / John Depasquale / Liz Kirchner	Allenby Capital Limited (Joint Broker)	Tel: [phone]
Isabel de Salis / Charlotte Page	St Brides Partners Ltd	Tel: [phone]

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steve Quah
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Aeorema Communications plc
b)	LEI	n/a
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 12.5p each ISIN code: GB00B4QHH456
b)	Nature of the transaction
c)	Price(s) and volume(s)	Price(s) Volume(s) 18p 181,010
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	13 September 2017
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Harvey
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Aeorema Communications plc
b)	LEI	n/a
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 12.5p each ISIN code: GB00B4QHH456
b)	Nature of the transaction
c)	Price(s) and volume(s)	Price(s) Volume(s) 18p 50,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	13 September 2017
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Owen
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Aeorema Communications plc
b)	LEI	n/a
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 12.5p each ISIN code: GB00B4QHH456
b)	Nature of the transaction
c)	Price(s) and volume(s)	Price(s) Volume(s) 18p 50,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	13 September 2017
f)	Place of the transaction	London Stock Exchange

 

END

 

 

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