THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL

Ten Entertainment Group plc

('TEG', the 'Company')

Result of Placing

Ten Entertainment Group plc, a leading UK based operator of 45 family entertainment centres, is pleased to announce the successful completion of the placing announced yesterday (the 'Placing').

A total of 3,250,000 new ordinary shares of 1 pence each ('Ordinary Shares') (the 'Placing Shares') were placed by Peel Hunt LLP ('Peel Hunt') at a price of 155 pence per share (the 'Placing Price'), raising approximately £5m gross proceeds. The Placing was conducted by way of an accelerated bookbuild process and was over-subscribed. Peel Hunt acted as sole bookrunner on the Placing.

As outlined in the launch announcement for the Placing, the net proceeds of the Placing will be utilised to provide additional liquidity headroom during this unknown period of uncertainty relating to COVID-19.

Directors of the Company participated in the Placing, subscribing for 199,900 Placing Shares in aggregate.

Application has been made for the Placing Shares to be admitted to the premium segment of the Official List of the UK Financial Conduct Authority (the 'FCA') and to trading on the main market for listed securities of the London Stock Exchange plc (together, 'Admission'). It is anticipated that Admission in the Placing Shares will take place at or around 8.00 a.m. on 31 March 2020. The Placing Shares will rank pari passu with the existing Ordinary Shares in issue. The Placing Shares will represent approximately 5 per cent. of the Company's enlarged issued share capital on Admission (assuming no other issuance of Ordinary Shares prior to Admission).

Following Admission of the Placing Shares, the Company's issued and fully paid share capital will consist of 68,250,000 Ordinary Shares, all of which carry one voting right per share. The Company does not hold any Ordinary Shares in treasury. The figure of 68,250,000 Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure Guidance and Transparency Rules.

Smaller related party transactions

Harwood Capital LLP ('Harwood Capital') has been a substantial shareholder in the Company within the 12 months prior to the announcement for the purposes of chapter 11 of the FCA's Listing Rules. Harwood Capital is, therefore, considered to be a related party for the purposes of chapter 11 of the FCA's Listing Rules. Harwood Capital has subscribed for 554,123 Placing Shares in the Placing, equating to £0.86m. Under Listing Rule 11.1.10R, the participation in the Placing by Harwood Capital constitutes a 'smaller' related party transaction and as such does not require the approval of independent ordinary shareholders of the Company. The transaction falls within Listing Rule 11.1.10R (smaller related party transactions) and this announcement is made in accordance with Listing Rule 11.1.10R(2)(c).

This announcement is released by Ten Entertainment Group plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Antony Smith, Chief Financial Officer.

Enquiries:

Ten Entertainment Group plc

Duncan Garrood, Chief Executive Officer

Antony Smith, Chief Financial Officer

via Instinctif Partners

Peel Hunt LLP

Adrian Trimmings / George Sellar (Corporate)

Al Rae / Sohail Akbar (ECM)

Tel: 020 7418 8900

Instinctif Partners

Matthew Smallwood

Jack Devoy

Tel: 020 7457 2020

IMPORTANT INFORMATION

This Announcement does not constitute or form part of an offer to sell or issue or a solicitation of an offer to buy, subscribe for or otherwise acquire any securities in any jurisdiction including, without limitation, the United States, Australia, Canada, Japan or South Africa or any other jurisdiction in which such offer or solicitation would be unlawful ('Restricted Jurisdiction'). This Announcement and the information contained in it is not for publication or distribution, directly or indirectly, to persons in a Restricted Jurisdiction unless permitted pursuant to an exemption under the relevant local law or regulation in any such jurisdiction.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

No action has been taken by the Company, Peel Hunt or any of their respective directors, officers, partners, agents, employees, affiliates, advisors, consultants or persons connected with them as defined in FSMA (as defined below) (together, 'Affiliates') that would permit an offer of the Placing Shares or possession or distribution of this Announcement or any other publicity material relating to such Placing Shares in any jurisdiction where action for that purpose is required. Persons receiving this Announcement are required to inform themselves about, and to observe, any restrictions contained in this Announcement.

This Announcement is directed at and is only being distributed to: (A) persons in member states of the European Economic Area who are 'qualified investors', as defined in Article 2(e) of the Prospectus Regulation (Regulation (EU) 2017/1129) (the 'Prospectus Regulation'), (B) if in the United Kingdom, persons who (i) have professional experience in matters relating to investments who fall within the definition of 'investment professionals' in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the 'Order') or fall within the definition of 'high net worth companies, unincorporated associations etc.' in Article 49(2)(a) to (d) of the Order and (ii) are 'qualified investors' as defined in section 86 of the Financial Services and Markets Act 2000, as amended ('FSMA') or (C) persons to whom it may otherwise lawfully be communicated (each, a 'Relevant Person'). No other person should act on or rely on this Announcement and persons distributing this Announcement must satisfy themselves that it is lawful to do so. By accepting the terms of this Announcement, you represent and agree that you are a Relevant Person. This Announcement must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this Announcement or the Placing relate is available only to Relevant Persons and will be engaged in only with Relevant Persons. As regards all persons other than Relevant Persons, the details of the Placing set out in this Announcement are for information purposes only.

Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this Announcement should seek appropriate advice before taking any action.

This Announcement is not being distributed by, nor has it been approved for the purposes of section 21 of FSMA by, a person authorised under FSMA. This Announcement is being distributed and communicated to persons in the United Kingdom only in circumstances in which section 21(1) of FSMA does not require approval of the communication by an authorised person.

No prospectus will be made available in connection with the matters contained in this Announcement and no such prospectus is required (in accordance with the Prospectus Regulation) to be published.

The information contained in this Announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this Announcement or its accuracy, fairness or completeness. None of the information in this Announcement has been independently verified or approved by Peel Hunt or any of its Affiliates.

Certain statements in this Announcement are forward-looking statements, which include all statements other than statements of historical fact and which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These forward-looking statements, which may use words such as 'aim', 'anticipate', 'believe', 'could', 'intend', 'estimate', 'expect' and words of similar meaning, include all matters that are not historical facts. These forward-looking statements involve risks, assumptions and uncertainties that could cause the actual results of operations, financial condition, liquidity and dividend policy and the development of the industries in which the Company's businesses operate to differ materially from the impression created by the forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given those risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by the FCA, the London Stock Exchange or applicable law, the Company, Peel Hunt and their respective Affiliates undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Any indication in this Announcement of the price at which the Company's shares have been bought or sold in the past cannot be relied upon as a guide to future performance. Persons needing advice should consult an independent financial adviser. No statement in this Announcement is intended to be a profit forecast and no statement in this Announcement should be interpreted to mean that earnings per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company.

Peel Hunt, which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company and for no one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to its clients for providing advice in relation to the Placing, or any other matters referred to in this Announcement.

No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by or on behalf of the Company, Peel Hunt or by their respective Affiliates as to, or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefor is expressly disclaimed.

The Placing Shares to be issued pursuant to the Placing will not be admitted to trading on any stock exchange other than the London Stock Exchange's main market for listed securities.

Members of the public are not eligible to take part in the Placing and no public offering of Placing Shares is being or will be made.

Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this Announcement.

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Ten Entertainment Group plc published this content on 26 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2020 07:22:03 UTC