Papa Entertainment PLC

LSE : PAPP


November 16, 2012 09:44 ET

Placing

16 November 2012

                                              Papa Entertainment Plc
                                      ("Papa Entertainment" or the "Company")
                                                         
                                                         
                                                      Placing
                                                         
                                                         
Papa  Entertainment Plc announces that it has today raised gross proceeds of GBP 11,250 by way of  a  placing  (the
"Placing") of 250,000 new ordinary shares of 1p each ("Ordinary Shares") with Winterflood Securities Limited, at an
issue price of 4.5p per Ordinary Share. This Placing has been undertaken to satisfy market demand for the Company's
Ordinary Shares. The Directors intend to apply the proceeds of the Placing towards additional working capital.

The  new  Ordinary Shares issued in the Placing will rank pari passu in all respects with the existing  fully  paid
Ordinary Shares. The new Ordinary Shares issued in the Placing and the existing Ordinary Shares each have one right
to vote per share. Following the Placing the Company will have 72,056,290 Ordinary Shares in issue.

The  above  figure may be used by shareholders as the denominator for the calculations by which they will determine
if  they  are  required  to notify their interest in, or change to their interest in the Company  under  the  FSA's
Disclosure and Transparency Rules. The Company's total issued share capital is now GBP 720,562.90.

The  Company's  Chief Executive Officer, Harry Cowell and his family members (as defined in the ISDX Growth  Market
Rules  for  Issuers)  continue to hold a combined beneficial interest in 22,337,978 Ordinary  Shares  (representing
22,337,978 voting rights), which after the dilution from the Placing now represents 31.00% of the voting rights  in
the  enlarged issued ordinary share capital of the Company. The aforementioned 22,337,978 Ordinary Shares  includes
6,023,724  Ordinary Shares beneficially held by Louise Edmund-Cowell, who is a member of Harry Cowell's family  (as
defined in the ISDX Growth Market Rules for Issuers).

The  Company's  Chief Operating Officer, Eoghan Hynes and his family members (as defined in the ISDX Growth  Market
Rules  for  Issuers)  continue to hold a combined beneficial interest in 29,616,644 Ordinary  Shares  (representing
29,616,644 voting rights), which after the dilution from the Placing now represents 41.10% of the voting rights  in
the  enlarged issued ordinary share capital of the Company. The aforementioned 29,616,644 Ordinary Shares  includes
5,019,770  Ordinary Shares beneficially held by Thelma Hynes, 1,505,931 Ordinary Shares beneficially held  by  Tara
McGuigan  and  5,019,770 Ordinary Shares beneficially held by Eoghan Joseph Hynes, who are all  members  of  Eoghan
Hynes's family (as defined in the ISDX Growth Market Rules for Issuers).

Andrew  Morley,  Non-Executive Director of the Company, continues to beneficially hold 4,118,100  Ordinary  Shares,
which  represents 4,118,100 voting rights. After the dilution from the Placing, Mr Morley's holding now  represents
5.72% of the voting rights in the enlarged issued ordinary share capital of the Company.

Simon  Napier-Bell, Non-Executive Director of the Company, continues to beneficially hold 142,000 Ordinary  Shares,
which  represents  142,000  voting  rights.  After the dilution from the  Placing,  Mr  Napier-Bell's  holding  now
represents 0.20% of the voting rights in the enlarged issued ordinary share capital of the Company.


THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

                                                      --ENDS--

CONTACT DETAILS:

Enquiries:

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

SVS SECURITIES PLC - ISDX Corporate Adviser
Peter Ward / Alexander Brearley
+44 (0)20 7638 5600



ABOUT PAPA ENTERTAINMENT PLC:

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,
Annie Lennox, Peter Andre, Garbage, James Blunt, Gnarls Barkley and The Darkness, personally signing or negotiating
with  several  of these artists.  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.

For further information please refer to the Company's website at: www.papaentertainmentplc.com

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  • Papa Entertainment PLC