Arena Events Group plc (AIM:ARE) is pleased to announce its admission to trading on AIM at 8am 25th July. The company has raised a total of approximately £60 million from UK and international institutional investors and listing will help fund the future growth plans of our business.
Arena Group provides managed solutions from concept and design through to the construction and delivery of temporary structures, seating and interiors for a host of major sporting, outdoor and leisure events around the world. Contracts range in size and complexity from a simple equipment rental for a local outdoor event, to an integrated solution of multiple structures and interiors for a major international sporting event.
Arena Group is a global business with operations in the UK and Europe, Middle East and Asia and the Americas and current clients include The All England Tennis Club (Wimbledon), The R&A, Henley Regatta, the Jockey Club, Abu Dhabi Sports Council, the European Tour, The Ryder Cup, the US Open and the PGA Championship. The Group provides a wide range of services from temporary demountable seating and project management, to the installation of ice rinks as well as the provision of high end catering equipment and event furniture.
To support the listing on the London Stock Exchange Arena Group has boosted our Board of Directors. Kenneth Hannah has been appointed Chairman. Kenneth is also Chairman of Aggreko plc and Inchcape Plc. Ian Metcalfe has joined the Board as a non-executive Director. Ian is currently Chairman of Commonwealth games England and a member of the Rugby Football Union Council.
Commenting on the listing Greg Lawless, Chief Executive Officer, said:
“”We are delighted to have officially launched on the AIM market of the London Stock Exchange today. We look forward to continuing the growth of the business as a public company over the coming years. I would like to thank our entire team that has made this historic day possible, marking a key milestone in the development of the Group. We believe the Listing will not only raise our international profile but will also enable us to provide additional incentives, by way of a share option scheme, for our senior executive team around our global operations.
“The new funding leaves us with a significantly stronger balance sheet and provides us with the necessary funding (as well as access to further capital) that will help us to continue to grow the business both organically and by way of potential acquisitions. We are very fortunate to have a loyal and dedicated workforce of 750 employees across our 14 international bases and the successful flotation of the Group is a testament to their hard work and support going back many years.”
To read the full Intention to Float announcement please access here.
Watch our video from the day here.