Arena Events Group (ARE)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM All-Share

 9.25p
   
  • Change Today:
      0.000p
  • 52 Week High: 40.25p
  • 52 Week Low: 4.50p
  • Currency: UK Pounds
  • Shares Issued: 152.71m
  • Volume: 20,000
  • Market Cap: £14.13m
  • RiskGrade: 923

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 9.25p
Change Today 0.000p
% Change 0.00 %
52 Week High 40.25p
52 Week Low 4.50p
Volume 20,000
Shares Issued 152.71m
Market Cap £14.13m
RiskGrade 923

ARE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.25% above the market average96.25% above the market average96.25% above the market average96.25% above the market average96.25% above the market average
85.92% above the sector average85.92% above the sector average85.92% above the sector average85.92% above the sector average85.92% above the sector average
Price Trend
82.87% below the market average82.87% below the market average82.87% below the market average82.87% below the market average82.87% below the market average
70.67% below the sector average70.67% below the sector average70.67% below the sector average70.67% below the sector average70.67% below the sector average
Income
56.18% above the market average56.18% above the market average56.18% above the market average56.18% above the market average56.18% above the market average
26.09% above the sector average26.09% above the sector average26.09% above the sector average26.09% above the sector average26.09% above the sector average
Growth
53.02% above the market average53.02% above the market average53.02% above the market average53.02% above the market average53.02% above the market average
46.48% above the sector average46.48% above the sector average46.48% above the sector average46.48% above the sector average46.48% 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 02-Apr-2020

Time Volume / Share Price
12:06 10,000 @ 8.80p
12:03 10,000 @ 8.80p

ARE Key Personnel

CEO Gregory Malcolm Lawless
CFO Steve Trowbridge

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