REG - Live Company Group - Update on Jason Lee Investment

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04/04/2023 18:00

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RNS Number : 3824V  Live Company Group PLC  04 April 2023

6th April 2023

 

LIVE COMPANY GROUP PLC

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

 

JASON LEE INVESTMENT UPDATE

 

LVCG provides an update on the investment from Mr Jason Lee. On 18 November
2022, it was announced that Mr Jason Lee had agreed to subscribe a further
£750,000 at 3p per share (25,000,000 new Ordinary Shares) in tranches over
the period January to March 2023.

 

The Company announces that these payments have been delayed and the £750,000
outstanding has now been agreed to be paid over the following period: with
£250,000 paid before the end of April and the remaining £500,000 to be paid
by the end of September. The first £250,000 will be at the original 3p level
while the £500,000 will be no lower than the prevailing 10 day vWap of the
closing price per ordinary share.

 

In the meantime, the Company remains in discussions regarding other possible
advance payments in relation to various KPOP events previously announced, with
further details to follow as and when concluded.

 

 

 

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

 

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. The Company organises an annual Japanese KPOP
festival called KPOP Lux Nagoya in partnership with Birdman - a leading
advertising and entertainment company based in Tokyo.

 

·    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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