Papa Entertainment PLC

January 30, 2014 02:00 ET

Trading Statement

Press Release	                                                                                       30 January 2014

                                                  Papa Entertainment plc

                                         ("Papa Entertainment" or the "Company")

                                                     Trading Statement

Papa  Entertainment Plc (ISDX:PAPP),  a specialist UK group focused on the music and media industries,  announces  the
following trading statement following the end of the third quarter of Company's trading to 31 December 2013.

As announced on 23 December 2013, Papa Entertainment's wholly owned subsidiary, Rock Vault Tours Inc.  ("RVT"), signed 
a new and much improved entertainment  engagement agreement  with The Las Vegas Hotel & Casino ("LVH") for its Raiding 
the  Rock  Vault ("RTRV") show to remain at the LVH for a period of one year with a sixty day termination  clause  for 
either  party.  Like many other shows in Las Vegas,  RTRV entered into a holiday period for its cast  and  crew  on  1 
December 2013 and the first returning show, with some new additions to the band,  commenced successfully on 24 January 

Revenues  from  ticket  and merchandise sales for RTRV continued to increase in the third quarter  and  the  Directors 
expect that this,  in conjunction with the new LVH contract,  will have a positive impact on the  Company's  financial 
performance  for the remainder of  the current financial year.  RTRV has now firmly established itself as one  of  the 
most successful and well recognised shows in Las Vegas.  

Good  progress  also  continues  to  be  made within the Company's music production  and  publishing  company  Mission 
Entertainment  Group  Limited  ("Mission Group").  The Company remains  confident  that  Mission  Group  will  acquire 
additional  catalogues  in  2014 and that it will continue to support its existing artists.  Mission  Group  seeks  to 
maximise  its  joint publishing venture with Notting Hill Music (UK) Limited by signing up new artists,  an  agreement 
that Mission Group entered into in June 2013, in order to grow this core part of the Company.

Harry Cowell, Chief Executive of Papa Entertainment plc,  said:  "We are delighted to report that 2014 has started off 
well  for  RTRV  with  the opening show on 24 January achieving critical acclaim from some of the most  respected  and 
widely read entertainment media in Las Vegas.

"Over the holiday period,  we worked hard to secure a fantastic new contract with the LVH and as part of this deal,  a 
new  advertising  campaign which has been successfully launched that relays our new image for 2014.  In addition,  the 
band now also includes some new faces,  most notably Doug Aldrich,  who is the sensational guitar player from UK  hard 
rock band Whitesnake.

"RTRV  has now firmly established itself as a must see attraction for not only the residents of Las Vegas but also for 
the  many  visitors that the city attracts each and every day.  We believe that 2014 should prove to be  an  extremely 
exciting year for the RTRV show as well as ultimately for the Company and its shareholders."

                                                         - Ends -

For further information, please contact:
Papa Entertainment plc	
Harry Cowell, Chief Executive                                                                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