Business
New Opening and Related Party Transactions
New Opening and Related Party Transactions.
About this update from Everyman Media Group Plc
[{"type":"text","content":"\n \nRNS Number : 3652X Everyman Media Group PLC 21 February 2017 \n\nEveryman Media Group plc (\"Everyman\" or the \"Company\")\n \nNew Opening and Related Party Transactions\n \nThe Company is pleased to confirm that the previously announced venue in Stratford-upon-Avon has now become unconditional. It is expected that the new four screen site will open in the second quarter of 2017.\n \nThe lease for the site is 25 years and the annual rent is £185,880 per annum. The landlord of the Stratford-upon-Avon site is Blue Coast Stratford LLP. Blue Coast Stratford LLP and Blue Coast Private Equity L.P., who owns 19.1 per cent. of the Company, are companies within the same group. Michael Rosehill, a non-executive director of the Company, is a director of both entities.\n \nDue to Mr Rosehill, as a director, and Blue Coast Private Equity L.P, as a substantial shareholder, being connected with Blue Coast Stratford LLP, the lease arrangement at the venue in Stratford-upon-Avon is considered to be a related party transaction under the AIM Rules. The directors of the Company consider the terms of the lease to be on commercial terms. Furthermore, the directors of the Company, other than Michael Rosehill, having consulted the Company's nominated advisor Cenkos Securities plc, consider the terms of the lease to be fair and reasonable insofar as the Company's shareholders are concerned. \n \n \n21 February 2017\n\n\n\n\n \nFor further information, please contact:\n\n\n\n\n \nEveryman Media Group plc\nCrispin Lilly - Chief Executive Officer\n \n \n\n\nTel: 020 3145 0500\n\n\n\n\nCenkos Securities plc (NOMAD and Broker)\nBobbie Hilliam\nHarry Pardoe\n \n\n\nTel: 020 7397 8900\n \n \n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCTMMFTMBITBFR\n ","length":3671,"tagName":"div"}]