REG - Live Company Group - Appointment of Administrator over BLI

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13/09/2024 14:30

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RNS Number : 1901E  Live Company Group PLC  13 September 2024

13 September 2024

 

 

 

LIVE COMPANY GROUP PLC

("LVCG", the "Company" or the "Group")

 

Appointment of Administrators over Brick Live International Limited ("BLI")

 

The Company announces that, following its recent announcements, BLI was placed
into administration during the afternoon of 12 September and that Ben
Woodthorpe and Simon Jagger of ReSolve Advisory Limited have been appointed as
Joint Administrators of that business (the 'BLI Administrators').

The potential restructuring and/or sale of assets of BLI will be realised by
the BLI Administrators in due course and, where surplus funds are generated,
these will be distributed as payments to BLI creditors in accordance with the
statutory priority.

For expressions of interest in the business and/or assets of BLI, please
contact ReSolve on 020 8066 3858 or by emailing
daniel.hashemi@resolvegroupuk.com (mailto:daniel.hashemi@resolvegroupuk.com) .

 

Trading in the Company's shares are currently suspended pursuant to AIM Rule
40 and late publishing of the annual accounts.

 

Further to the appointment of the BLI Administrator, the Company has
effectively ceased to control and conduct all, or substantially all, of its
existing trading business, activities or assets and accordingly the Company
will be regarded as an "AIM Rule 15 cash shell" as defined under the AIM
Rules.   Subject to any other matters, AIM Rule 15 states that the Company
has six months to make an acquisition or acquisitions which constitute a
reverse takeover under AIM Rule 14 after which the shares would be suspended.

 

Live Company Sports and Entertainment (Pty) Limited and KPOP Lux Limited
remain within the group but are currently inactive.

 

Further announcements in relation to the Company will follow in due course.

Enquiries:

 Live Company Group Plc                        Tel: 020 7225 2000

 David Ciclitira, Executive Chairman

 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

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

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