ARE Arena Events Group Plc

By Anthony O. Goriainoff

Arena Events Group PLC said Wednesday that it has repaid and canceled its short-term financing facility in full--as well as 500,000 pounds ($681,500) of compound interest--and that repayment was made from its existing cash resources.

The London-listed event-services provider said that the GBP2.0 million facility had been provided by significant shareholder Lombard Odier Investment Management and that, although it was due for repayment on Sept. 25, it was repaid on July 19.

"This decision will reduce the ongoing finance costs of the company by approximately GBP400,000 on an annualized basis," the company said.

Shares at 0725 GMT were flat at 15.50 pence.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

July 21, 2021 03:53 ET (07:53 GMT)

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