Appointment of Administrator over BLI

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 [e-mail].

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 David Ciclitira, Executive Chairman	Tel: [phone]
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Rosalind Hill Abrahams	Tel: [phone]
CMC Markets UK Plc Thomas Smith Douglas Crippen	Tel: [phone]

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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