Reach4entertainment Enterprises : 26 Oct 2016 Completion of Placing and Director Dealing

RNS Number : 5586N Reach4Entertainment Enterprises PLC 26 October 2016

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

reach4entertainment enterprises plc

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

Result of Placing and Director dealing

26 October 2016

r4e, the transatlantic media and entertainment company, is pleased to announce the completion of the Placing announced earlier today.

A total of 133,333,334 Placing Shares have been placed at a Placing Price of 1.5p, raising a total of

£2,000,000 before expenses. The Placing Shares will represent 21.75% of the enlarged issued share capital of the Company.

The Company also announces that the following Directors and substantial shareholders have participated in the Placing:

Director / substantial shareholder	Number of Ordinary Shares held prior to Placing	Number of Placing Shares purchased	Number of Ordinary Shares held following Admission	Percentage of Enlarged Share Capital
David Stoller	23,927,358	6,652,566	30,579,924	4.99%
Nigel Wray	124,900,000	34,726,170	159,626,170	26.04%
Gate Ventures plc	91,150,000	25,342,598	116,492,598	19.01%
Herald Investment Management Limited	67,325,000	18,718,490	86,043,490	14.04%
Stephen Hemsley	17,500,000	4,865,556	22,365,556	3.65%

In addition, certain persons discharging managerial responsibilities has acquired Ordinary Shares in the Placing as set out in the tables below.

Related party transaction

As David Stoller (being a director of the Company) and Nigel Wray, Gate Ventures plc and Herald Investment Management Limited (substantial shareholders of r4e) are participating in the Placing, their participation in the Placing is considered to be a related party transaction as described in the AIM Rules. The Directors (with the exception of David Stoller), who have consulted with Allenby Capital Limited in its capacity as Nominated Adviser to the Company, consider the Placing to be fair and reasonable insofar as shareholders of the Company are concerned.

Admission and total voting rights

Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the Placing Shares on AIM will commence on 01 November 2016.

The Placing is conditional, among other things, upon Admission becoming effective. Following Admission, the issued share capital of the Company will comprise 612,894,792 Ordinary Shares with one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 612,894,792. The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

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	David Stoller
2	Reason for the notification
a)	Position/status	Acting CEO/Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	reach4entertaiment Enterprises 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 0.5p each in reach4entertainment Enterprises plc Identification code (ISIN) for reach4entertainment Enterprises plc ordinary shares: GB00B1HLCW86
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.5p	6,652,566
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	26 October 2016
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Linzi Allen
2	Reason for the notification
a)	Position/status	Group Finance Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	reach4entertaiment Enterprises 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 0.5p each in reach4entertainment Enterprises plc Identification code (ISIN) for reach4entertainment Enterprises plc ordinary shares: GB00B1HLCW86
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.5p	130,000
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	26 October 2016
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Simon Shimell
2	Reason for the notification
a)	Position/status	Dewynters Finance Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	reach4entertaiment Enterprises 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 0.5p each in reach4entertainment Enterprises plc Identification code (ISIN) for reach4entertainment Enterprises plc ordinary shares: GB00B1HLCW86
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.5p	660,000
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	26 October 2016
f)	Place of the transaction	Outside of trading venue