Arena Events Group (ARE)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM All-Share

18.50p
   
  • Change Today:
    -1.00p
  • 52 Week High: 72.75
  • 52 Week Low: 16.50
  • Currency: UK Pounds
  • Shares Issued: 152.71m
  • Volume: 557,585
  • Market Cap: £28.25m
  • RiskGrade: 536

Arena Events subsidiary to pay out $4.8m in US government settlement

By Duncan Ferris

Date: Thursday 02 Aug 2018

LONDON (ShareCast) - (Sharecast News) - Arena Events Group has reached a settlement in relation to potential legal action and a US government investigation into its US subsidiary, Arena Americas, it announced on Thursday.
The international "turnkey event" design and delivery business said the settlement includes the payment by the subsidiary of $4.8m in equal instalments over five years, plus additional payments if revenue of $150m or net profits of $2.5m.

Last year the firm achieved revenue of $56.7m and net profits of $0.5m.

Greg Lawless, chief executive of Arena, said: "I am pleased that we have reached a settlement regarding the US legal matter and that we can now move forward and continue to develop and grow our US business without the significant distraction that a lengthy litigation process would have entailed."

Elsewhere, in the first half of the year, the AIM-traded company said it successfully delivered major global events for both new and existing customers, including Henley Royal Regatta, Wimbledon, the Fever Tree Championships at Queens, the US Open (golf) Championship and the Hong Kong Sevens.

With four acquisitions also completed during the period, Arena is now assessing "a number of further acquisitions".

"The group remains on track to deliver on market expectations for the full year. We continue to grow the business organically as well as pursue a number of acquisition targets in line with our stated strategy," said Lawless.

Arena's shares were up 1.60% at 63.50p at the close on Thursday.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ARE Market Data

Currency UK Pounds
Share Price 18.50p
Change Today -1.00p
% Change -5.13 %
52 Week High 72.75
52 Week Low 16.50
Volume 557,585
Shares Issued 152.71m
Market Cap £28.25m
RiskGrade 536

ARE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
69.73% above the market average69.73% above the market average69.73% above the market average69.73% above the market average69.73% above the market average
65.79% above the sector average65.79% above the sector average65.79% above the sector average65.79% above the sector average65.79% above the sector average
Price Trend
91.9% below the market average91.9% below the market average91.9% below the market average91.9% below the market average91.9% below the market average
89.87% below the sector average89.87% below the sector average89.87% below the sector average89.87% below the sector average89.87% below the sector average
Income
64.45% above the market average64.45% above the market average64.45% above the market average64.45% above the market average64.45% above the market average
48.00% above the sector average48.00% above the sector average48.00% above the sector average48.00% above the sector average48.00% above the sector average
Growth
52.03% above the market average52.03% above the market average52.03% above the market average52.03% above the market average52.03% above the market average
66.23% above the sector average66.23% above the sector average66.23% above the sector average66.23% above the sector average66.23% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ARE Dividends

  Latest Previous
  Interim Final
Ex-Div 03-Oct-19 13-Jun-19
Paid 01-Nov-19 08-Jul-19
Amount 0.25p 1.00p

Trades for 16-Sep-2019

Time Volume / Share Price
16:26 150,000 @ 19.50p
16:07 5,818 @ 18.70p
15:54 50,000 @ 18.50p
15:53 50,000 @ 18.50p
15:10 6,500 @ 18.30p

ARE Key Personnel

CEO Gregory Malcolm Lawless
Finance Director Piers Leigh Stuart Wilson
CEO Chris Morris

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