Key Developments: Premier Exhibitions Inc (PRXI.W)
1.80USD
19 Jun 2013
$0.00 (+0.00%)
$1.80
$1.83
$1.84
$1.80
600
325
$2.94
$1.51
Latest Key Developments (Source: Significant Developments)
Premier Exhibitions Inc Announces Stock Repurchase Plan
Premier Exhibitions Inc announced that the Company's Board of Directors has authorized a stock repurchase plan pursuant to which the Company may repurchase up to 1.5 million shares of outstanding common stock. The authorization will terminate upon completing the repurchase plan or when otherwise terminated by the Board of Directors. Full Article
Premier Exhibitions Inc Announces Executive Leadership Appointments
Premier Exhibitions Inc announced that Samuel Weiser, who has served as Interim President and Chief Executive Officer since November 2011, will assume the permanent position of President and Chief Executive Officer. Full Article
Premier Exhibitions Inc's Exhibition Subsidiary Acquires Assets Of Arts & Exhibitions International
Premier Exhibitions Inc announced that it has acquired the assets of Arts & Exhibitions International (AEI), a presenter of touring and museum exhibitions. AEI is a subsidiary of Los Angeles-based live entertainment and concert tour presenter AEG Live. Premier said the transaction is non-dilutive with respect to current shareholders' interest in Premier's Titanic assets. Under the terms of the transaction, Premier's exhibition subsidiary has acquired substantially all of AEI's assets, including new content opportunities, in exchange for a promissory note to be repaid solely out of the revenues from the AEI properties being acquired. Due to the non-recourse nature of the promissory note, no proceeds from the eventual sale of the Titanic assets are required to retire the note. AEG Live will also receive a 10% equity interest in Premier Exhibition Management, LLC, Premier's exhibition operating subsidiary, in connection with the transaction. The transaction is expected to be immediately accretive to Premier's earnings and requires no upfront cash outlay by Premier. Full Article
Premier Exhibitions Inc's RMS Titanic Inc. Teams Up With QVC
Premier Exhibitions Inc's RMS Titanic Inc. announced that company will enter into a relationship with QVC, Inc.. As the only Company permitted by law to recover objects from the wreck site of Titanic, RMS Titanic, Inc. will work closely with QVC to design several Titanic-inspired products including jewelry, home goods, giftware and a fragrance, Legacy 1912–Titanic.TM. Full Article
Premier Exhibitions Inc Announces Executive Leadership Team Realignment
Premier Exhibitions Inc announced that it is realigning its executive leadership team as part of its previously disclosed strategic restructuring. Christopher Davino, who has served as Premier's Chief Executive Officer and President since February 2009, will assume the title of President of RMS Titanic, Inc., to focus his efforts exclusively on strategic transactions involving the Company's content subsidiary and the Titanic artifact collection. Mr. Davino will remain a director of Premier. Samuel Weiser, a director of Premier, will assume the role of Interimo Chief Executive Officer and President and will manage Premier's overall business operations, with a specific focus on the operations of Premier Exhibition Management, the Company's exhibition production division. * Michael Little, Chief Financial Officer, will assume the additional role of Chief Operating Officer. Full Article
Premier Exhibitions Inc Acquires Titanic-Themed Exhibition In Orlando
Premier Exhibitions Inc announced that it has entered into an agreement to purchase the assets of a Titanic-themed exhibition (Titanic The Experience) in Orlando, Florida. Terms of acquisition were not disclosed. Full Article
Premier Exhibitions Inc Announces Strategic Restructuring
Premier Exhibitions Inc announced that it intends to separate its operations into two separate operating divisions which will function as separate subsidiaries of Premier. Premier is undertaking this restructuring to better position the Company to pursue strategic alternatives and manage both businesses independently. Premier's business will be divided into an exhibition management subsidiary and a content subsidiary. The content division will be the Company's existing subsidiary, RMS Titanic, Inc. (RMST), which holds all of the Company's rights with respect to the Titanic assets and is the salvor-in-possession of the Titanic wreck site. These assets include title to all of the recovered artifacts in the Company's possession, in addition to all of the intellectual property (video, photos, maps, etc.) related to the recovery of the artifacts and research of the ship. In addition, all of Premier's collection and curatorial staff will be employed by the RMST subsidiary. The Company will form a new entity, Premier Exhibition Management (PEM) to manage all of the Company's exhibition operations. This will include the operation and management of Premier's Bodies, Titanic and Dialog in the Dark exhibitions. PEM will also pursue "fee for service" arrangements to manage content owned or licensed by third parties. All personnel not directly involved in the management of the Titanic artifacts will function as employees of the PEM subsidiary. Full Article
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