Creative Entertainment Group plc

August 01, 2008 06:53 ET

Update and Board Changes


                     Creative Entertainment Group plc ('Creative' or 'the Company')
                                        Update and Board Changes

Creative Entertainment Group plc, the PLUS-quoted facilitator of music and theatrical events, is  pleased
to provide an update on its trading activities both in the UK and internationally.

Creative's  New York office successfully negotiated with the 400th Anniversary Committee of the  City  of
Quebec and Marshall Arts to facilitate Sir Paul McCartney's concert on 20 July 2008.  This was Sir Paul's
only scheduled live appearance in North America this year and was attended by over 200,000 people.

During  this year, Creative has also facilitated a number of high profile events, working with a  variety
of internationally renowned artists.   These include:
*     Whitney  Houston  who  performed at a leading children's charity  gala,  The  Legends  Ball,  at
      Battersea Evolution in London;
*     Bon Jovi at Bristol City Football Club to a sell out audience;
*     Take That for the Outward Bound Charity Event in association with Sunseeker at Old Billingsgate,
*     Meatloaf  at Bundoran Live in Donegal;
*     Simply Red  for Gulf Air at the Bahrain Grand Prix; and most recently
*     Mika who performed in Martyr's Square in front of 15,000 people, the first major concert in
      Beirut for more than two years.

Whilst  there  have  been  significant successes, trading has been  slower  than  anticipated  and  below
expectations.   Accordingly, the Company is currently carrying out a strategic review to  reorganise  its
overall  corporate  structure  including a refocus of its Agency division.   Additionally,  in  its  last
Interim  announcement, the Company stated that it was considering listing its shares on  the  Alternative
Investment  Market of the London Stock Exchange and that it was actively looking to develop the  business
through  strategic acquisitions.  Given the current state of the financial markets, these steps  are  not
being actively pursued at this time.

Finally, the Company announces that Executive Director, Paul Fitzgerald, has stepped down from the  Board
with immediate effect in order to join Creative Artists Agency ('CAA'), the world's leading entertainment
and  sports agency. Creative anticipates maintaining a close working relationship with Mr. Fitzgerald and
CAA  and  retains  a commission interest in the X Factor tour with CAA for the coming season.  The  Board
wishes to thank Paul for his contribution to the business over the past two years.

The Directors of the Issuer accept responsibility for this announcement.

                                              * * ENDS * *

For further information visit or contact:

Peter Brightman            Creative Entertainment Group plc            Tel: 020 7499 7176
Nicola Brookes                                                         
Felicity Edwards           St Brides Media & Finance Ltd               Tel: 020 7236 1177
Duncan Vasey               St. Helen's Capital                         Tel: 020 7448 5974

Contact Information

  • Creative Entertainment Group plc