TIDMMERL
RNS Number : 9616Z
Merlin Entertainments plc
23 May 2019
Merlin Entertainments plc
23 May 2019
Merlin Entertainments plc ("Merlin" of the "Company")
Response to ValueAct Capital Announcement
The Board of Merlin (the "Board") notes the announcement made by
ValueAct Capital. Merlin maintains an active dialogue with all its
shareholders, including ValueAct Capital. Merlin has had recent
discussions with ValueAct Capital, including their perspectives on
the options for the Company, and intends to continue the
constructive dialogue that it has had to date.
The Board regularly considers all options for driving
shareholder value and has concluded that it remains in the best
interests of all its shareholders to continue to pursue its current
strategy to create a high growth, high return, family entertainment
company based upon strong brands and a global portfolio that is
naturally balanced against the impact of external factors.
As announced on 3 May 2019 in the trading update at the time of
Merlin's Annual General Meeting, trading during this seasonally
quiet period of the year has been in line with management
expectations and consistent with the guidance provided on 28
February 2019. Merlin has also made good strategic progress in the
financial year with seven Midway attractions opened and 244
additional accommodation rooms opened. In addition, Merlin has
completed the sale of its ski resort businesses. The Board remains
fully confident in the ongoing execution of Merlin's strategy and
that its successful delivery will create significant value for
shareholders.
Contact details:
For further information please contact:
Investors
Debbie Fisher +44 (0)20 3915 8305
Media
James Crampton +44 (0)1202 493 014
Brunswick
Fiona Micallef-Eynaud / Imran
Jina +44 (0)20 7404 5959
Notes to Editors:
About Merlin Entertainments plc
Merlin Entertainments plc is a global leader in location based,
family entertainment. As Europe's Number 1 and the world's
second-largest visitor attraction operator, Merlin now operates
over 130 attractions, 19 hotels and 6 holiday villages in 25
countries and across 4 continents. Merlin's purpose is to deliver
memorable experiences to 67 million guests around the world,
through its iconic global and local brands, and the commitment and
passion of its c.28,000 employees (peak season). It is
headquartered in Poole, Dorset, UK and is listed on the London
Stock Exchange (MERL.L). In 2018, Merlin had revenues of GBP1.7
billion and underlying EBITDA of GBP494 million. Reflecting its
longstanding strategy of diversification and global expansion,
Merlin generates over 70% of profits from outside of the UK.
Merlin's strategy since its inception in 1999 has been to create
a high growth, high return, family entertainment company based upon
strong brands and a global portfolio that is naturally balanced
against the impact of external factors. It operates two distinct
products - Midway attractions and theme parks.
'Midway' attractions are high quality, branded, indoor
attractions, with a typical 1-2 hour dwell time, located in city
centres, shopping malls or resorts. There are over 100 Midway
attractions across 22 countries, with chainable brands including
SEA LIFE, Madame Tussauds, The Eye (observation attractions), The
Dungeons and LEGOLAND Discovery Centres. Midway also incorporates
the Little BIG City brand which has attractions in Berlin and
Beijing, and two new brand concepts: The Bear Grylls Adventure
which opened its first attraction last year in Birmingham, UK, and
Peppa Pig World of Play, a pre-school play experience with initial
roll out in China and the US.
Merlin's theme parks are larger multi-day outdoor resort
destinations, incorporating on-site themed accommodation. These are
organised into two specific Operating Groups, based on the
brands.
-- LEGOLAND Parks - Eight LEGO themed interactive theme parks
appealing to younger families with children aged 2-12. The LEGOLAND
Parks estate spans seven countries across three continents, with
plans already announced for further parks in New York, US and South
Korea and discussions ongoing regarding parks in China.
-- Resort Theme Parks - Six nationally recognised destination
theme parks arranged around a central theme. Resort Theme Parks
include Alton Towers, THORPE PARK, Chessington World of Adventures,
Warwick Castle in the UK, and Gardaland (Italy) and Heide Park
(Northern Germany).
The trend towards shorter, more frequent breaks has supported
the growth of Merlin's themed on-site accommodation within its
theme parks. Merlin has over 4,300 rooms across a variety of
accommodation formats and price points, including four star hotels,
lodges and glamping.
Merlin delivers safe, memorable experiences every day for its
guests through its own brands or through exclusive IP partnerships.
It is supported by its unique internal department - Merlin Magic
Making - providing development, creative, production and project
management expertise. Merlin also operates a function dedicated to
opening new attractions which incorporates site finding,
construction, resourcing and initial operation.
Merlin is committed to being a force for good, aiming to make a
difference to the communities linked to its business. Merlin's
Magic Wand (www.merlinsmagicwand.org) is a charity which supports
children facing challenges of serious illness, disability or
adversity to experience the magic of Merlin's attractions, and SEA
LIFE Trust (www.sealifetrust.org), promotes and contributes to
marine conservation around the word.
See Merlin Backstage (www.merlinentertainments.biz/backstage or
www.facebook.com/merlinbackstage) for an insight into how Merlin
delivers memorable experiences to its many millions of visitors to
its attractions.
Visit www.merlinentertainments.biz for more information.
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END
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