Notice of Results & Adoption of FRS 102

Paragon Entertainment Limited

Notice of Results & Adoption of FRS 102

Adoption of FRS 102

Paragon Entertainment Limited (AIM: PEL), the attractions design, production and fit-out business, announces that, following the publication of FRS 100 'Application of Financial Reporting Requirements' by the Financial Reporting Council, it is required to change the accounting framework for the financial statements of its UK subsidiaries, which currently adopt UK GAAP.

For the year ended 31 December 2015 and future years, the Company's UK subsidiaries intend to adopt FRS 102 which is based on International Financial Reporting Standards as adopted by the European Union ('IFRS').  As part of the adoption of FRS 102, its UK subsidiaries intend to take advantage of the "Reduced Disclosure Framework" available within FRS 102.

The group's consolidated financial statements will continue to be prepared in accordance with IFRS and are unaffected by this adoption.

Notice of Results

The Company will announce its audited final results for the year ended 31 December 2015 on 14 June 2016.

Shareholder approval to adopt FRS 102 is not required. However, objections to the use of disclosure exemptions may be served by a shareholder or shareholders holding in aggregate 5% or more of the total allotted shares in the Company. Any objections must be served in writing to the Company Secretary at the Company's registered office (PO Box 309, Ugland House, Grand Cayman, KY1 -1104, Cayman Islands) no later than 12 June 2016.

Notes to Editors:

Paragon Entertainment Limited (AIM:PEL) is an award winning provider of attraction services from initial design production and consulting through to the fit out and installation of themed attractions, heritage exhibits, museums, aquariums and water parks, inter alia.

Paragon Entertainment is the holding company for Paragon Creative Limited.

The Group's projects have included:

·     The design and build of Kidzania, London;

·     The design and build of galleries at the Olympic Museum for the IOC in Lausanne, Switzerland;

·     The design and build of the galleries at The National Museum of Kazakhstan;

·     The design and build of Titanic Belfast;

·     The thematic build of the Wallace and Gromit ride at Blackpool Pleasure Beach;

·     Licensing and distribution installations at Gullivers, Milton Keynes and Art Mall, Ukraine.

The Group listed on AIM in 2011.

Further information can be found at: http://www.paragonent.com/