Papa Entertainment PLC

July 16, 2014 02:00 ET

Lease Extension

Press Release                                                                             16 July 2014

                                      Papa Entertainment plc
                            (''Papa Entertainment'' or the ''Company'')
                                          Lease extension

Papa  Entertainment  Plc  (ISDX:  PAPP), a specialist UK group focused  on  the  music  and  media
industries, announces that the Company has entered into a further extension of its lease agreement
at  its recording studio at Fairlight Mews, 15 St Johns Road, Kingston Upon Thames, Surrey KT1 4AN
(the "Second Lease Extension").

The  original  lease  was entered into on 4 February 2011 for a three year period  at  an  initial
annual  rent of £72,000 (excluding VAT) and was subsequently extended to 3 August 2014 (the "First
Lease  Extension"). The parties to the Second Lease Extension are the same as those party  to  the
original  lease  and  First Lease Extension, being Eoghan Hynes, Eoghan  Joseph  Hynes  and  Harry
Cowell,  Mission Recordings Limited and Mission Publishing Limited. Under the terms of the  Second
Lease Extension, the parties have agreed to extend the duration of the original lease for a twelve
month  period  with  effect from 4 February 2014 and with rent of £6,000 (excluding  VAT)  payable
monthly  in  advance. In addition, the Second Lease Extension can be terminated  by  either  party
giving one month's written notice to the other. The Second Lease Extension supersedes and replaces
the First Lease Extension.

In  view  of the fact that Eoghan Hynes and Harry Cowell are directors of the Company, the  Second
Lease  Extension  constitutes a related party transaction within the meaning of  the  ISDX  Growth
Market - Rules for Issuers.


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

Allenby Capital Limited                                                   Tel: +44 (0) 20 3328 5656
Alex Price / Michael McNeilly                                      

Media enquiries:
Henry Harrison-Topham / Jamie Hooper                                     Tel: +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 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.

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:

Contact Information

  • Papa Entertainment PLC