REG - Live Company Group - Bricklive Update and Funding Update

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10/05/2023 07:00

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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 £350,000 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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