Acquisition of Shaftesbury Avenue Ltd
The Directors are pleased to announce that FOS has acquired a controlling interest in Shaftesbury Avenue Ltd (“SA”).
Shaftesbury Avenue Limited specialises in theatre and musical productions. More information on the company can be found here: https://www.shaftesbury-avenue.com/
The offer to shareholders of Shaftesbury Avenue Limited was to acquire 100% of Shaftesbury Avenue Limited for 6,524,643 shares in Fashion On Screen Plc. As of the date of this release, FOS has received acceptances from 98.2% of Shaftesbury shareholders.
SA has several musical productions on its slate in differing stages of development. One of the several attractions to FOS of acquiring the company is the possibility in the future of developing multi-format propostions covering both stage and film creative solutions, increasingly a feature seen in today’s creative sector with stage/film productions such as Mama Mia.
The acquisition will also give FOS a broader reach into potential new revenue-generating arts investments within the theatre sector.
In addition, FOS will be pleased to welcome the services of Nigel Richards, the SA Creative Director, whose career has covered 30 years experience working in the West End, including playing the Phantom in Phantom of the Opera at Her Majesty’s Theatre. He lectures worldwide in Musical Theatre and, since working with Leonard Bernstein in 1986 on the British stage premier of Bernstein’s Mass at the Barbican, has worked closely with new writers as both performer and dramaturg, working at the National Theatre on three occasions as advisor on new writing.
FOS CEO Nevern Johns said: “The acquisition of Shaftesbury Avenue will significantly broaden our company’s reach into highly complementary areas of stage and musical productions. In addition, we expect to bring with the acquisition a new team of highly professional creative experts who will add to the overall FOS offer enormously.”
The Directors of the Issuer accept responsibility for the contents of this announcement.
For further information:
Paul Quade 07947 186694 CityRoad Communications 020 7248 8010