Papa Entertainment PLC

January 22, 2013 02:00 ET

Contract secured with Las Vegas Hotel for 'Raiding the Rock Vault'

                                                                                   22 January 2013

                                      Papa Entertainment plc
                             ("Papa Entertainment" or the "Company")
                Contract secured with Las Vegas Hotel for 'Raiding the Rock Vault'

Papa  Entertainment  Plc  (ISDX:PAPP),  a specialist UK group  focused  on  the  music  and  media
industries,  is  pleased to announce that, following the success of the first  'Raiding  the  Rock
Vault'  concert,  which  was announced on 12 November 2012, the Company has  secured  a  one  year
contract  with  the  Las  Vegas Hotel and Casino ("LVH") (formerly the Hilton),  operated  by  the
Navegante Group, to perform the Raiding the Rock Vault concerts in the hotel's Showroom.

The first classic rock concert of the Rock Vault project, 'Raiding the Rock Vault', debuted on  29
November  2012  at  The Mayan Theatre in Los Angeles and was co-promoted by leading  classic  rock
radio  station 95.5 KLOS FM.  The one and a half hour long concert narrates the story  of  classic
rock and features songs by The Who, The Doors, Jimi Hendrix, Free, The Eagles, Led Zeppelin, Bryan
Adams, Van Halen, Deep Purple, Queen, Kiss and The Rolling Stones.

Under  the  terms  of the contract, the Raiding the Rock Vault concerts will be performed  in  the
Showroom at the LVH, where for five years Barry Manilow performed his "Ultimate Manilow: the Hits"
show.   The  Showroom seats approximately 1,500 and the hotel has 2,956 rooms and  305  suites  in
total.   The  Board is pleased to have secured the original band from the Los Angeles  concert  to
perform in Las Vegas.

The  contract with LVH is structured so that the Company receives 100% of the net gate fee for the
Raiding  the  Rock  Vault concerts. Papa Entertainment will need to pay for the promotion  of  the
concerts and the concerts' running costs.  The contract has a 60 day termination clause for either

At  this  stage,  the Directors intend for the concert's average ticket price to be  approximately
US$60  (including local taxes and booking fees), which is planned to be increased as  the  concert
becomes  more popular. The Directors intend for the band to put on a minimum of five concerts  per

In  addition to the considerable capacity of the venue and the anticipated ticket sales, the Board
believes  that there are significant merchandising and corporate sponsorship opportunities  to  be
explored  for the concert at the new venue.  In addition, the Company has assembled  a  rock  band
named the 'Raiding the Rock Vault' and has recorded 30 cover versions of classic rock tracks  from
the  1960s  to 1980s, some of which will be on sale at the concert in Las Vegas; the Company  also
intends to record the concert itself for sale at a future date.  As previously announced, there is
additional potential to run a global touring band which would perform a further 100 concerts  over
the  coming  year, in addition to the resident Raiding the Rock Vault concerts in Las Vegas.   The
Directors intend to confirm the exact date of the first Raiding the Rock Vault concert at the LVH,
which is anticipated to be in March of 2013.

The  Company  has  established two U.S. incorporated subsidiaries in relation to  the  Rock  Vault
Project  in the U.S.  "Rock Vault Tours LLC" is Papa Entertainment's subsidiary which has  entered
into  the agreement with the LVH.  "Rock Vault LLC" is Papa Entertainment's subsidiary established
for  holding the intellectual property associated with the Rock Vault Project. Rock Vault  LLC  is
also  to  be  the  company  through which Papa Entertainment intends to  conduct  its  Rock  Vault
merchandising opportunities. Both Rock Vault Tours LLC and Rock Vault LLC are 100% owned  by  Papa

Further to the announcement made on 4 January 2013, in order for the Company to take advantage  of
the  opportunities associated with the Rock Vault project, additional financing is  likely  to  be
required for the operating costs of the Raiding the Rock Vault concerts at the LVH, which may take
place  through the placing of ordinary shares.  Further announcements will be made in relation  to
this as and when appropriate.

Harry Cowell, Chief Executive of Papa Entertainment, commented:  "The Board is delighted with  the
success of the initial Rock Vault concert in Los Angeles, and looks forward to capitalising on the
significant  potential  to  take the concert to the LVH where Elvis Presley  performed  for  eight
years.  The Company is excited about running the concerts at such a renowned music venue, and  the
Board sees considerable future opportunities for Raiding the Rock Vault."

     The Directors of the Company accept responsibility for the contents of this announcement.

                                             - Ends -

For further information, please contact:
Papa Entertainment plc                                                                            
Harry Cowell, Chief Executive                                            Tel: +44 (0) 20 8977 0632

SVS Securities Plc                                                                                 
Peter Ward                                                                Tel: +44 (0) 20 7638 5600
Alexander Brearley                                                  

Media enquiries:
Henry Harrison-Topham / Joanne Shears                                    Tel: +44 (0) 20 7398 7709                                  

For   photographic  images  of  the  'Raiding  the  Rock  Vault'  band  or  logo,  please  contact or call +44 (0) 20 7398 7719.

Notes to Editors

Papa  Entertainment  was  incorporated 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 and its subsidiaries (the "Mission Group") in July 2012.

Papa  Entertainment is led by its Chief Executive Officer, "Sir" Harry Cowell,  who  has  over  25
years' experience in the music industry.

The  Company's  Non-Executive Chairman is Korda Marshall, who has during  his  career  has  signed
artists,  directed major label A&R departments, produced, executive produced and been  a  managing
director  of  three recording companies and has worked with performers including Take That,  MUSE,
Ash,  Paul  Oakenfold,  the Eurythmics, Dave Stewart, Peter Andre, Garbage,  James  Blunt,  Gnarls
Barkley and The Darkness, personally signing or negotiating with several of these artists. Korda's
signings  include  Mercury Music Prize winning band Alt-J, who have just gone  into  the  Top  100
Billboard  Album  Chart in the USA at 87, and are still at number 29 in the UK  Music  Week  Album
Charts after 30 weeks.

Simon  Napier-Bell, a Non-Executive Director of Papa Entertainment, has enjoyed a long  career  in
the  entertainment  industry,  commencing in the 1960s,  with  notable  highlights  including  the
management of well-known artists such as "Wham!" and the "Yardbirds" and the co-writing of the No.
1 Hit Single "You don't have to say you love me" for Dusty Springfield.

The  Mission Group is a group of music production and publishing companies with studio and  office
facilities  in Kingston-Upon-Thames, South West London. 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. Various contracts,  artists,  projects  and
agreements are signed to the Mission Group's companies.

Papa  Entertainment  was  admitted  to the ISDX Growth Market  on  14  September  2012.  For  more
information on the Company please visit:

'Raiding the Rock Vault'
Links for the 'Raiding the Rock Vault'website and social media are detailed below:

Quotes from band members on the event

From  Joe  Lynn Turner: "Raiding the Rock Vault is the real deal! Others have tried to  attempt  a
similar  concert but nothing will be like this! I am honoured and proud to be a part  of  what  is
soon to be a part of rock and roll history!"

From Tracii Guns: "Being part of the vault is very exciting for me. An opportunity to play some of
the best songs ever written along side some great musicians is very appealing."

From Paul Dexter (Raiding the Rock Vault Production Designer):
"This live concert is being assembled by masters of their respective fields, guided by pure rock &
roll  passion.  A unique perspective about an unrepeatable era of rock history has been recreated,
with  its  memorable  hit  songs, all delivered with the same spirit as when  they  were  written.
Today's  music  enthusiasts are about to relive a time, that up until now, they  have  only  heard

From Simon Napier-Bell (Executive Producer):
"Raiding  The  Rock Vault relates the history of the last fifty years through its  definitive  art
form - rock music. It defines the second half of the 20th Century."

Contact Information

  • Papa Entertainment PLC