REG - Live Company Group - Live Company Japan KK

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07/02/2023 07:00

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RNS Number : 0863P  Live Company Group PLC  07 February 2023

7 February 2023

 

LIVE COMPANY GROUP PLC

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

 

LIVE COMPANY JAPAN KK

 

LVCG is excited to announce that it has signed two agreements to create a new
joint 50%/50% venture partnership with M Group holding and capital Co, Ltd ("M
Group"), an international entertainment and music management company (the
"Investor"), which will be called Live Company Japan KK (LVCJ). The agreements
consist of a licence agreement and an investment agreement which are detailed
below.

Under the licence agreement, LVCJ will represent LVCG exclusively in Japan
with the following LVCG businesses, paying an annual license fee (the 'Licence
Agreement") to LVCG of GBP100,000 on approximately 20 February 2023:-

 

a)    the StART Art Fairs and exhibitions;

 

b)    LVCG's involvement in the K-Pop concerts;

 

c)    as well as other business should the opportunity arise

 

Additionally via an investment agreement (the "Investment Agreement")  the
Investor will invest in Live Company Japan JPY 100,000,000 (approx. £630,000)
for its 50% shareholding and as working capital by end of February 2023. This
working capital will remain in Japan in the JV business. Shareholders should
note that he Licence Agreement and the receipt of the first annual licence fee
by LVCG are conditions precedent to the Investment Agreement to be satisfied
by the 17 February 2023.

 

 

Chairman David Ciclitira commented:

"K-pop has exploded into Japan's music industry and is changing the shape of
the South Korean music culture. As K-pop's influence grows in all directions
in terms of culture, self-reflection is growing on Japan's idol culture and
the fan base is becoming stronger and bigger.

 

"The art scene in Japan offers a diverse modern and contemporary art landscape
which is ripe with innovation and imagination. The fairs and exhibitions in
South Korea and the UK have shown that Japan is the next country to be in to
showcase the artists and to elevate it to be a major player on the world's art
stage.

 " I am delighted that we have formulated a partnership with M Group holding
and Mr MIwa Nakabayashi, CEO and founder of M Group in Japan which has the
biggest K-Pop market after Korea and look forward to working with them across
a number of different projects including StART Japan"

 

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 based around 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 to K.Flex in
Frankfurt.

The Company also owns the brand KPOP Lux and is the executive producer to KPOP
Lux in Madrid and London. Both Madrid and London KPOP Lux shows are produced
in partnership with SBS - the Korean television network.

 

·    The third is 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,
the first of which highlighted the works of Ohnim the second of which due to
open the last week of February the works of a British artist Mark Sloper.

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 StART Art Coin (Cryptocurrency).

 

·    The fourth division is Live Company Sports and Entertainment (LCSE).
LCSE owns LCSE Pty in South Africa LCSE Pty has a long term relationship with
Pick 'n' Pay and the Global Ocean Race.

LCSE is a 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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