Papa Entertainment PLC

September 14, 2012 03:00 ET

Admission to PLUS-quoted

14 September 2012

                                            Papa Entertainment PLC

                                   (the "Company" or "Papa Entertainment")

                                           Admission to PLUS-quoted

The  directors  of  Papa Entertainment PLC (the "Directors" or the "Board") are pleased to  announce  that  the
Company's entire issued ordinary share capital, comprising 71,806,290 ordinary shares of £0.01 each, has  today
been admitted to trading on PLUS-quoted ("Admission"). The Company's PLUS Symbol is "PAPP". SVS Securities  plc
is Papa Entertainment's PLUS Corporate Adviser and broker.

"Sir" Harry Cowell, Chief Executive Officer of Papa Entertainment, said:

"We  are  delighted with Papa Entertainment's flotation on the PLUS-quoted market. Our stock  market  quotation
should  provide us with a solid platform to build on our current position and support our goal  of  becoming  a
leading  group of entertainment, music and media companies. We look forward to updating the market  as  to  the
Company's progress in due course."


Papa  Entertainment  was  incorporated on 12 May 2011 as a vehicle for the purpose of  acquiring  companies  or
businesses  engaged  in  the  entertainment, music and media industries. Papa  Entertainment  acquired  Mission
Entertainment  Group  Limited  ("Mission") and its subsidiaries (the "Mission Group")  on  24  July  2012,  the
purchase  consideration being satisfied through the issue to the vendors of Mission of new Ordinary  Shares  in
Papa Entertainment.

In  order to obtain access to the capital markets for the future funding of projects of Papa Entertainment  and
its  subsidiary companies (the "Group") and to provide a quoted currency for potential future acquisitions, the
Directors  have  resolved to seek admission of the Company's entire issued share capital to  trading  on  PLUS-

The Mission Group is a group of music production and publishing companies with studio and office facilities  in
Kingston-Upon-Thames, South West London. Mission is led by its Chief Executive Officer, "Sir" Harry Cowell, who
has  over  25  years'  experience in the music industry. Mission has five wholly  owned  subsidiary  companies:
Mission  Artist  Management Limited, Mission Publishing Limited, Mission Recordings Limited, Mission  Marketing
and Distribution Limited and Mission Productions Limited.
The  Mission  Group's  business  consists  of the delivery of music to  the  listener,  incorporating  writing,
recording,  marketing  and  distribution,  label  management  and  production.  The  Company's  policy  through
concentrating  all  the Group's operations under one roof and utilising its own studios is to  consolidate  the
functions of music production and publishing in-house in order to manage costs and to integrate functions  that
would otherwise be subject to external contracting. The Group also intends to augment its intellectual property
base  through  contracting  and developing new artists and, in the future, acquiring  other  companies  in  the
publishing and recording sector with catalogues producing attractive returns. Where permitted, the Group  takes
appropriate measures to protect its intellectual property rights in accordance with industry practice.
The  Directors  believe that a significant amount of preparation work has been invested  in  the  creation  and
positioning  of the Mission Group. The Directors believe that the business of the Mission Group offers  a  rare
combination  of services in the music industry which services include facilities and distribution  arrangements
within the Mission Group.
Mission's  premises consist of its offices and two recording studios, both in Kingston-Upon-Thames, South  West
London with digital recording equipment in both studios. Mission also has facilities for in-house TV and  video
production.  Mission  has  a  number of songwriters on its books, and additional  tracks  are  regularly  being
produced and added to the catalogue.
Mission  currently has two artists signed to its management and label operations, Gianluca Paganelli  and  Demi
Holborn.  Ayo  Beatz  has also contracted with Mission Recordings for the production of two single  recordings.
Cameron Whiley is also signed to Mission Recordings.

Mission  already  owns  a catalogue in excess of 70 songs. In addition, in 2010 Mission  Recordings  secured  a
distribution  agreement with Absolute Marketing and Distribution Limited, which provides  distribution  through
Universal  Music until 6 July 2013. The publishing operation of Mission Group is currently operated  through  a
worldwide  joint venture agreement with Imagem CV, a substantial independent publishing group. The arrangements
with Imagem CV were due to expire on 6 September 2012 but have been extended for a further period of six months
ending on 6 March 2013.

The following contracts, artists, projects and agreements are signed to Mission's Group companies:
-       Demi  Holborn.  Demi Holborn is a Welsh singer who won GMTV's "Totstars" and became  one  of  the  UK's
        youngest females ever to enter the UK Top 40 singles chart. Mission is now working with her on her debut album.
        Demi is contracted to Mission Artist Management.
-       Gianluca  Paganelli.  Gianluca  Paganelli  is an Italian  tenor.  He  won  the  Italian  equivalent  of
        "Britain's Got Talent" and with the backing of Len Goodman (of "Strictly Come Dancing" and "Dancing With The
        Stars") has recorded an album of classic Tango songs. He has recently supported Hayley Westenra on her UK tour.
-       "AYO,"  also known as Ayo Beatz, is a new Pop/R&B artist, who has released his first commercial  single
        "Boom Ayo", an adaptation of the 1995 hit "Boom Boom Boom" by the Outhere Brothers. Over the last 12 months AYO
        has been working with a number of UK urban artists such as Professor Green, Teezy, Labrinth and Wretch 32. AYO
        is contracted to Mission Recordings.
-       Cameron  Whiley. Cameron is a new pop artist who has recently been contracted with Mission  Recordings,
        with a debut single to be released later this year.
-       Writers  who  through the current arrangements with Imagem are sub-contracted to Mission Publishing  on
        both exclusive and non-exclusive bases include: Harry Cowell, Lou Mullen, Stuart Anning, Cameron Whiley, Max
        Gilkes, Demi Holborn, Gianluca Paganelli, Mark George, Daniel Ott, Jimmy Santis, Natalia Hajjara and AYO.
In  addition,  Mission has assembled a rock band named the "Rock Vault" with the intention of  recording  cover
versions  of  classic  rock  tracks from the 1960s to 1980s. Mission has already commenced  recording  on  this
project.  The  key musicians in the Rock Vault are professionals who in the past have themselves  performed  in
high  profile  rock  bands.  Mission is in discussion with candidates for the Rock Vault's  lead  vocalist.  In
addition  to  the  release  of  the  cover tracks, Mission plans for the  Rock  Vault  to  have  a  significant
international  touring  element. Mission plans to collaborate on the project with a major  international  label
and/or live tour agency.

It  is  the intention of the Board to develop the Group's business organically, although acquisition  of  other
companies  or businesses will be considered if the Directors consider that such acquisitions would  be  in  the
best interests of the Group.

Korda Marshall - Non-Executive Chairman
Korda  Marshall has worked for over 25 years in the UK music industry. During his career he has been a musician
and  has signed artists, directed major label A&R departments, produced, executive produced and been a managing
director  of  three  recording companies. He has worked with performers including Take That,  MUSE,  Ash,  Paul
Oakenfold,  the Eurythmics, Annie Lennox, Peter Andre, Garbage, James Blunt, Gnarls Barkley and  The  Darkness,
personally signing or negotiating with several of these artists.
Mr  Marshall's  initial position in the music industry was with RCA records, where he was Head of  A&R,  before
eventually  leaving  to  set  up  his own label, Infectious Records. He negotiated  a  joint  venture  with  an
Australian  company  part  of the Mushroom Records group and was subsequently appointed  managing  director  of
Mushroom  Records  (UK)  Ltd.  In  1998  Mushroom  Records and  Infectious  Records  were  both  sold  to  News
In  2003,  Mushroom  Records (UK) Limited was bought by Warner Music UK Limited and  absorbed  into  East  West
Records, a division of Warner Brothers Records. Mr Marshall was appointed managing director of Atlantic Records
in  2003, becoming Managing Director of Warner Brother Records in 2005. In 2008 he left Warner Brother  Records
to  concentrate on Infectious Music Ltd of which he is currently the Chairman. His first signing for Infectious
Records was Australian band "Temper Trap" and more recently indie band "alt-J".
Harry Cowell - Chief Executive Officer
"Sir" Harry Cowell started in the music industry in 1980 as a drummer prior to becoming a drum technician for a
number  of  major international artists. He progressed into tour management before opening his first  recording
studio where he worked with The Manic Street Preachers, My Bloody Valentine and The Damned. In 1991 with  Simon
Napier-Bell  he  set up a new management company, First World Management Limited, expanding into  international
management  and  managing major artists including Asia and Ultravox. In 2000 Harry Cowell  joined  Rive  Droite
Music  Limited, later becoming managing director. Rive Droite Music Limited was responsible for writing  and/or
producing  hits  for  Kylie Minogue, Enrique Iglesias, Jimmy Nail and Cher, in addition  to  signing  Katherine
Harry  Cowell  left Rive Droite Music Limited at the end of 2005, after the catalogue was put up for  sale  and
later  sold  for  circa US$10 million. He formed Private and Confidential Group Ltd together  with  a  partner.
Private  and  Confidential  Group Ltd is a record, production, publishing and  management  company.  After  his
partner  decided to scale the business down, Harry Cowell started up a new publishing venture alongside  Imagem
and  took the decision to form a new company which led to the establishment of Mission. Until early 2011  "Sir"
Harry  was  also  a  Board  Member  of The Association of Independent Music, a  non-profit  making  trade  body
established by UK independent record labels to represent the independent music sector.

Eoghan Hynes - Chief Operating Officer
Eoghan Hynes is the founder, Managing Director and Chairman of the Leanort Group. Leanort produces and supplies
energy efficient building materials through its subsidiaries:-
   -      Hytherm,  which  was  established  in 1986 as a manufacturer of graphite  enhanced  and  white  EPS
          insulation; and
   -      Xtratherm, established in 2000 to develop high performance rigid foam thermal insulation. Xtratherm
          manufactures and distributes its Thin-R, Safe-R, Xtroliner and CavityTherm technology foam products 
          throughout Europe from production facilities in Ireland and the UK.
In 1997 Eoghan Hynes established Hyloc Limited, a UK based manufacturer and global distributor of cyanoacrylate
adhesives. Having previously served as Hyloc's Managing Director Mr Hynes became Chairman in 2005.
In  2009  Eoghan Hynes was elected Chairman of the Qtelmedia Group, providers of Live Stream and  VOD  services
(entertainment, sport and news) to mobile devices. Qtelmedia offers telecom operators a fully integrated  media
services delivery system including integrated billing, content management and mobile handset independence.
Mr Hynes has been a director of certain of the Mission Group companies since 2009.
Norman Alec Charles Lott - Finance Director
Mr  Lott is an associate member of the Institute of Chartered Accountants in England and Wales and is the part-
time  finance  director of Alexander David Investments plc (a company whose shares are admitted to  trading  on
AIM) and various other public and private companies.
Prior  to  taking up his present positions, Mr Lott was finance director and deputy managing director of  Tiger
Books  International Plc (which was subsequently dissolved), financial controller of Mary Glasgow  Publications
and  Parks Bookshops Ltd (each part of Wolters Kluwer UK Ltd), the UK finance director of FTC Holdings Ltd, the
finance  director  of  Flowsave International Limited and Graham & Trotman Ltd,  the  financial  controller  of
Stromberg  (UK)  Ltd and an assistant manager with Peat Marwick (Hong Kong). Mr Lott qualified as  a  chartered
accountant with Ernst and Whinney in 1980.

Simon Napier-Bell - Non-Executive Director
Simon Napier-Bell has enjoyed a long career in the entertainment industry, commencing in the 1960s with notable
highlights including the motion picture "What's New Pussycat" and the management of well-known artists such  as
"Wham!"  and  the "Yardbirds". He also co-wrote the No. 1 Hit Single "You don't have to say you  love  me"  for
Dusty Springfield.
Simon  Napier-Bell  has  worked  in a number of entertainment sectors including  film,  television,  music  and
literature. He remains involved in entertainment projects as a consultant, continues to write books  and  works
as a newspaper columnist.  He regularly lectures on the music business. He will focus on the Company's business
Andrew Morley - Non-Executive Director
Mr.  Morley is Sales & Commercial Director of adhesives company, Hyloc Limited, a role which he has held  since
2005.  Prior  to this he served as the company's General Manager from 1998 to 2005. He began his career  as  an
Environmental  Project  Manager with Novatech Adhesives Limited in 1996, before  being  promoted  to  Technical
Manager.  He  has  an  MBA from Lancaster University Management School and an MSc from Manchester  Metropolitan
David Albert Thomas - Independent Non-Executive Director
David  Thomas  qualified  as a UK solicitor and spent more than 20 years in private  practice  specialising  in
corporate  finance law before moving into investment banking in 2001 when he took up an appointment as  General
Counsel  and  Company Secretary with Beeson Gregory Group plc. Since 2002 he has been working independently  on
various projects involving Hong Kong, China, Malaysia and Singapore. He has been a director of several publicly
quoted  companies and is currently a non-executive director of Naibu Global International Company Plc  and  Top
Creation Investments Limited, both quoted on AIM.

The Directors believe that admission will provide Papa Entertainment with the ability to:
     -    access the capital markets to raise additional capital to fund Mission's future projects;
     -    provide publicly quoted shares as currency to vendors for the acquisition of suitable businesses or
          companies should any such opportunities present themselves; and
     -    attract and retain suitably qualified staff through the issue of options over publicly traded shares.


Fuller details regarding Papa Entertainment can be found in the Company's Admission Document dated 13 September
2012.  Copies of the Company's Admission Document will be available for inspection during normal business hours
on  any  weekday (Saturdays, Sundays and public holidays excepted) at the Company's registered office at Thames
House,  Portsmouth Road, Esher, Surrey KT10 9AD, and at the offices of SVS Securities plc at 21 Wilson  Street,
London EC2M 2SN, for a period of one month from the date of this announcement.



Papa Entertainment Plc
Harry Cowell
Tel: +44 (0) 208 977 0632

PLUS Corporate Adviser
SVS Securities Plc
Tel: +44 (0)20 7638 5600

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