Live Company Group PLC Bricklive Update and Funding Update (8588Y)
May 10 2023 - 1:00AM
UK Regulatory
TIDMLVCG
RNS Number : 8588Y
Live Company Group PLC
10 May 2023
10 May 2023
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014. as it
forms part of UK Domestic Law by virtue of the European Union
(Withdrawal) Act 2018 ("UK MAR").
LIVE COMPANY GROUP PLC
("LVCG", the "Company" or the "Group")
BRICKLIVE UPDATE, FUNDING UPDATE
LVCG is pleased to announce that following its strategy in
optimising the Bricklive assets that it has reached an agreement to
sell two of its underperforming tours Mythical Beasts and Outer
Space.
Whilst the company has had success with the tours they have not
been as popular in recent times and hence a buyer for the assets
was sourced. The tours have been sold for GBP350,000 in staged
payments the first of which has been received. The future payments
will occur between June and October 2023.
The Company continues to operarate a strategy that ensures that
all assets have maximum usage through the year as demonstrated with
its focus on the US market especially during the European winter
months.
Funding Update
The Company also provides an update on the additional investment
amounts that were to be received from Mr Jason Lee as referred to
in the announcement of 6 April 2023. LVCG has now released Mr Lee
from these obligations and is in active discussions to replace the
funding which would have been provided by this investment.
Chairman David Ciclitira Commented: " I am pleased that the team
have continued to work on our strategy of optimising the BRICKLIVE
assets and that we have our first sale on a underperforming
tour.
We are anticipating that we will also provide further funding
news on our Madrid K-Pop concert and also an update our Japan K-Pop
concert over the coming weeks.
We continue to work with Jason Lee on Start. Art Korea and the
Start Art coin as announced."
Enquiries:
Live Company Group Plc Tel: 020 7225 2000
David Ciclitira, Executive Chairman
Sarah Dees, Chief Operating Officer
Beaumont Cornish Limited (Nominated Adviser) Tel: 020 7628 3396
Roland Cornish/Rosalind Hill Abrahams
===================
CMC Markets UK Plc Tel: 020 3003 8255
Thomas Smith
Douglas Crippen
===================
About Live Company Group
Live Company Group Plc ("LVCG", the "Company" or the "Group") is
a live events, entertainment and sports events company, that has
been trading on AIM since 2017.
The Group is divided into four divisions:
-- BRICKLIVE - consisting of a network of partner-driven
fan-based and touring shows using BRICKLIVE created content
worldwide. The Company owns the rights to BRICKLIVE - an
interactive experience built around the creative ethos of the
world's most popular construction toy bricks. The Group is an
independent producer of BRICKLIVE and is not associated with the
LEGO Group.
-- KPOP - the company owns the rights to the K.Flex brand and
through its joint venture with the Explorado group KPOP Europa
(KPE) is a partner in and the Executive Producer of K.Flex in
Frankfurt.
LVCG also owns the brand KPOP Lux and is the executive producer
of KPOP Lux in Madrid and London. Both of these shows are produced
in partnership with SBS - the Korean television network.
-- StART Art Global (SAG) - SAG owns StART Art Fair in London
which has been staged over the last 9 years at the Saatchi Gallery.
SAG has licensed the rights to the StART brand in Korea. The
licence includes the right to create and run StART Art Fair Seoul
and various StART+ exhibitions.
SAG has also licensed the right to the StART brand in Japan to
Live Company Japan a joint venture with M Group Holdings Co.
SAG has also licensed the brand to Live Company Korea to create
the StART Art Coin.
-- Live Company Sports and Entertainment (LCSE) - LCSE owns LCSE
Pty in South Africa which has a long-term relationship with Pick
'n' Pay and the Ocean Race.
LVCG is a founder shareholder in E-Movement - the promoter of
the Formula E Race in Cape Town. As part of this relationship
E-Movement has retained LCSE (through E-Movement holdings) as its
implementation partner. E-Movement Holdings a 100% subsidiary of
Live Company Group has the right to sell sponsorship for the
Formula E race in Cape Town.
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