Creative Entertainment Group plc
LSE : CEGO

November 28, 2008 11:14 ET

Creative Entertainment Group Plc Placing and Notice of Results for the year ended 30 June 2008

                                                                                                     28/11/2008
                                                       
                                                                                      GB00B08HB657/GBP/PLUS-exn
                                                       
                         Creative Entertainment Group plc ('Creative' or 'the Company')
                         Placing and Notice of Results for the year ended 30 June 2008
                                                       
Creative  Entertainment  Group  plc, the PLUS-quoted facilitator of music  and  theatrical  events  has  raised
£151,083 following the placing of 15,108,334 new Ordinary shares of 1p each at par.  The money raised  will  be
used to expand its activities in the entertainment sector and for general working capital purposes.

As  part of the placing, each new shareholder will be issued with two new warrants in the Company, each warrant
entitling  the holder to subscribe for one new Ordinary share of one pence each at any time during  the  period
from  the date of issue to 30 November 2012.  In order not to disadvantage existing warrant holders, the  Board
has agreed to extend the period of all existing warrants from May 2009 to 30 November 2012.

 In addition, the Board has agreed to issue 3.33 million warrants at 1p and 6.67 million warrants at 2p each to
a former director as part of a settlement package with that individual and 2 million warrants at 2p to a former
director  of a subsidiary company.  In addition the Board has agreed to issue 1,000,000 new Ordinary shares  at
par in settlement of an outstanding claim with a former adviser to the Company.

As a result of the above transactions, the Company now has 140,762,666 Ordinary shares in issue.  The Directors
hold  47,046,682  Ordinary  shares  representing 33.4% of the enlarged share capital  and  12,000,000  warrants
exercisable  at  1p  each.  The Directors have agreed that as soon as the Close period  has  ended,  they  will
convert  £175,000 of loans made by them into new Ordinary shares at par on the terms as set  out  above.   This
will  increase the number of Ordinary shares held by directors to 96,046,682 representing 50.6% of the enlarged
share  capital  of 189,762,666 Ordinary shares.  The Directors will also hold 98,000,000 warrants  representing
63%  of the total of 155,796,668 warrants which will then be in issue.  A further announcement confirming these
arrangements will be made at the appropriate time.

The Board also announces a short delay to the publication of the Company's final results for the year ended  30
June  2008,  as  further  time is required to complete the audit.  The Company expects to  announce  its  final
results no later than the close of business on 31 December 2008.

Creative's  Chairman Peter Frohlich said, "The Board is pleased with the progress that is being made  and  will
update  shareholders fully in our results next month.  We continue to be active, particularly in  staging  live
events  with  major international names.  The market for staged events is increasing and we  hope  to  position
ourselves to take advantage of this trend."

The Directors of Creative Entertainment Group Plc accept responsibility for this announcement.

                                                 * * ENDS * *

For further information visit www.ceg-events.com or contact:

Peter Frohlich                   Creative Entertainment Group plc           Tel: 020 7499 7176
Duncan Vasey                     St. Helen's Capital plc                    Tel: 020 7628 5582
Felicity Edwards                 St Brides Media & Finance                  Tel: 020 7236 1177

Notes:

The Creative Entertainment Group is a PLUS listed provider of integrated entertainment and media services.  The
Company  facilitates  the  staging of concerts and events featuring world renowned artists  such  as  Sir  Paul
McCartney,  Beyonce´  Knowles,  Shakira,  Bon Jovi, George Michael  and  Sir  Elton  John.   The  Company  also
facilitates  artists' attendance at corporate or private events acting as a link between  the  artist  and  the
planner.   The Company's additional operating activities include theatre consulting, theatrical production  and
media projects.

Contact Information

  • Creative Entertainment Group plc