DJ PCG Entertainment plc Update to the Market
RNS Number : 7026P
PCG Entertainment plc
14 October 2019
14(th) October 2019
PCG Entertainment Plc
("PCGE", the "Company" or the "Group")
PCG Entertainment Plc / NEX: PCGE
Update to the Market
Following the cessation of discussions with VOX Markets Limited ("VOX") and Align Research Limited ("Align"), the Directors are considering the future of PCGE and the options available to it.
After carefully considering how to maximize benefit to shareholders PCGE has agreed with VOX preferential rights for PCGE Shareholders to participate in the VOX IPO. These rights will be available to shareholders on the register at the close of business on 11(th) October 2019. As consideration for these rights and the payment of GBP1 PCGE has released any and all claims that it may have against VOX for withdrawing from the transaction. PCGE has also assigned to VOX all rights to sue Align Research Limited for withdrawing from the transaction with PCGE.
PCGE shareholders on the register as at close of business on Friday 11 October will receive correspondence from VOX in due course.
Professor Michael Mainelli has resigned from the board of PCGE due to a substantial increase in his commitments elsewhere. The board are grateful for his service and contribution to the Company.
Additionally, First Sentinel Corporate Finance has resigned as Corporate Adviser to the Company. Accordingly, the Directors have requested that the shares in PCGE be suspended from trading on NEX Exchange immediately. Further announcements will be made by the Company in due course.
For more information on PCGE please visit the Company's website, www.pcge.com. Enquiries:
PCG Entertainment PLC
Richard Poulden, Chairman
Tel: +44 207 183 7407
Corporate Adviser - First Sentinel Corporate Finance
Tel: +44 207 183 7407
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(END) Dow Jones Newswires
October 14, 2019 02:00 ET (06:00 GMT)