RCS - Literacy Capital PLC - New Investment

Literacy CapitalAnnouncement

25/03/2024 07:00

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RNS Number : 0350I  Literacy Capital PLC  25 March 2024

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Republic of South Africa.

 

 

25 March 2024

 

Literacy Capital plc ("Literacy Capital" or the "Fund")

 

Literacy Capital announces new investment in Live Business Group

 

New investment

 

Literacy Capital is pleased to announce an investment into Live Business Group
("Live"), a prominent provider of turnkey entertainment solutions for global
travel operators, specifically in holiday resorts or on cruise ships.

 

Literacy Capital has acquired a significant minority stake to support the
founders' plans for growing Live under their leadership. Further financial
terms have remained undisclosed.

 

 

Literacy Capital completes investment into Live Business Group

 

Literacy Capital plc has completed an investment into Live Business Group, a
leading international entertainment supplier to the travel, tourism and
leisure industry, which gives Literacy Capital a significant minority stake.

 

Founded in 2015 by Mark Dixon and Dan Lock and based in West London, Live has
built a reputation for creating award-winning bespoke content, bringing
together creative, production and digital capabilities to create complete
entertainment solutions. Capabilities cover everything from concept design,
digital media content, to West-End style production shows and live
entertainment activities.

 

Through partnering with Live, clients are assured that regardless of resort,
location or season, consumers will consistently experience enjoyable and
age-appropriate entertainment offerings. The company's commitment to
technological and content innovation, and continuous service improvement has
driven its reputation as a "best-in-class" entertainment partner. High quality
entertainment is often a key differentiator that helps resorts and cruise
lines set themselves apart, as it has a direct impact on end-customer
satisfaction and their experience.

 

The investment from Literacy Capital will support Live Business Group's
ambitious growth plans, with a continued focus on the quality of their service
offering. Both Mark and Dan will continue in their current roles at the
forefront of the business' activities and growth, ensuring that Live continues
to deliver high-quality entertainment to its clients.

 

The transaction is Literacy's 23(rd) platform investment since the inception
of the fund in 2017 with Live joining the Fund's diverse and growing portfolio
of companies.

 

 

 

Enquiries

For further information, please contact:

 

 

 Literacy Capital plc / Book Asset Management LLP:

 Richard Pindar / Tom Vernon                        +44 (0) 20 3960 0280

 MHP Group:

 Reg Hoare / Ollie Hoare / Matthew Taylor           +44 (0) 20 3128 8100

                                                    book@mhpgroup.com (mailto:book@mhpgroup.com)
 Singer Capital Markets Securities Limited:

 Robert Peel                                        +44 (0) 20 7496 3000

 

 

About Literacy Capital:

 

Literacy Capital (BOOK.L) is an investment trust that was co-founded by Paul
Pindar and Richard Pindar in 2017 with £54 million of capital. Literacy
subsequently listed on the London Stock Exchange in June 2021. The Fund
focuses on opportunities to invest for the long-term in growing private
businesses where a clear route to creating additional value can be seen with
its support. The fund structure is evergreen, allowing it to be more flexible
and to accommodate the wishes or needs of founders.

 

The Fund also has a unique charitable objective, to donate 0.9% of NAV
annually to charities focused on improving literacy in UK children. Over £8.5
million has been donated or reserved for donation to charities since the
trust's creation in 2017 up until 31 December 2023. For more information,
please visit our website: www.literacycapital.com
(http://www.literacycapital.com/) .

 

 

 

Website:

www.literacycapital.com

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Company's website at
www.literacycapital.com (http://www.literacycapital.com) .

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