REG - Live Company Group - FORMULA E ANNOUNCEMENT FOR CAPE TOWN

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20/10/2022 09:30

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RNS Number : 5495D  Live Company Group PLC  20 October 2022

20(th)  October 2022

 

LIVE COMPANY GROUP PLC

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

 

FORMULA E ANNOUNCEMENT FOR CAPE TOWN

 

LVCG is pleased to announce that following our previous announcement on 4(th)
March 2022 where we announced the Cape Town track for the Formula E race
(E-Prix) that will take place in February 2023 we can confirm that FIA will
add Cape Town to the 2023 Formula E Calendar.

The E-prix will be the focal point of E-Fest, a week-long showcase of
sustainability, e-mobility and renewable solutions. The route will start at
Green Point's Vlei Road and wind its way through the Green Point and
Waterfront districts.

Additionally the Company would like to announce that E- Movement Ltd of which
E- Movement Holdings( 100% LVCG subsidiary) now ,post investment, owns
14.83% has attracted an investment of ZAR16.5M (£0.825 M) which will value
that company at ZAR 63M (£3.15M). This in turn implies a ZAR 9.3M (£0.47M)
(valuation for LVCG's stake - a close to 500% increase in investment.

Chairman of LVCG David Ciclitira commented:

'During Covid we had the vision to diversify our offering and acquired a
sports and entertainment business in South Africa now our LCSE division. That
company had the mission to introduce Formula E into South Africa and through
LVCG's support that dream has now come to fruition. I am incredibly  proud
that all the tireless work for the team has paid off with the successful
confirmation of Cape Town as part of the 2023 Formula E world championship
race calendar. I would like to thank Bruce and his team for making this vision
a reality. I look forward to our shareholders joining us at this exciting
event'

CEO of LCSE Bruce Parker-Forsyth commented: "LCSE is extremely proud to be
delivering an event of this calibre to the South African public. Plans are
well underway for us to host the maiden race here, and we are working closely
alongside the City of Cape Town and Formula E Operations delivery teams to
deliver a prestigious, world-class spectacle of motor racing like never seen
before in our city"

 

 

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

 Oval(X) (Broker)                              Tel: 020 7392 1436

 Thomas Smith

 

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.  The second is KPOP which owns the
K.flex brand. K.flex is Europe's first ever Mega KPOP music festival.  The
third is Live Company Sports and Entertainment, which manages a number of
global sports, entertainment and lifestyle events.  The fourth division is
StART Art Global. StART Art Global is a combination of both physical art shows
and a digital art platform.

 

 

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