Company update

RNS Number : 9124J

Live Company Group PLC

05 April 2018

 

5 April 2018

LIVE COMPANY GROUP PLC ("LVCG" or the "Company")

Company update

First two permanent BRICKLIVE centres in China and BRICKLIVE branded kids cafes license agreement

LVCG is pleased to announce that Brick Live Centre Education Development (Beijing) Limited ("BL China"), a joint venture of Bricklive Far East Limited, a subsidiary of LVCG, has entered into a contract with new licensee in China to open a second permanent BRICKLIVE centre in China.

Pursuant to the agreement, BL China will open a second permanent BRICKLIVE centre in China in Shanghai in the Autumn of 2018, to be managed and operated by the licensee, Wuhan Realjoy Children Park Management Co. Ltd - a Wu Han DDMC Culture Company Limited. This will follow the opening of the first permanent BRICKLIVE centre in China, opening in May 2018 in the ski resort of Fulong Chongli, an Olympic venue for the Beijing 2022 Winter Games.  

Following the signing of its first two centres in China, LVCG is planning to debut up to a further three later this year and then five more each year thereafter.

LVCG is also pleased to announce that it has secured a 5-year licensing deal with Cross Media Group of Seoul, South Korea, for the exclusive right to open and operate BRICKLIVE branded kids cafes ("Cafes") in China. Under the agreement, a minimum of five Cafes will be launched in 2018, rising to 30 by the end of 2019, and 100 by the end of 2022.

LVCG's expansion into China is part of a continued focus for the company on expanding the BRICKLIVE brand globally.

The China contracts also follow on from two successful shows in Japan, in Numazu and Osaka, in Q1 2018, with a further Easter weekend show that debuted in Turin.

In addition, following LVCG's successful show in New York in February 2018, the Company has decided, to launch the BRICKLIVE brand across the US and to discontinue the LEGO LIVE brand.

LVCG's Executive Chairman David Ciclitira stated: "BRICKLIVE is a global brand with an already firm foothold in 17 countries, so we are very excited to extend our reach further into the Far East with two permanent centres in China. A hugely important market for us, we're looking forward to further building our presence there via exhibitions and shows as well as BRICKLIVE events in coming years."

Enquiries:

Live Company Group Plc

David Ciclitira                                                                        Tel: [phone]

Stockdale Securities Limited, Nominated Adviser and Joint Broker

Richard Johnson / Edward Thomas                              Tel: [phone]

Shard Capital Partners LLP, Joint Broker

Damon Heath                                                                        Tel: [phone]

W Communications, PR agency

James Porter                                                                         Tel: [phone]

About the Company:

Brick Live Group

Brick Live is a network of partner-driven fan-based shows using BRICKLIVE-created content worldwide. It owns the rights to BRICKLIVE - interactive experiences built around the creative ethos of the world's most popular construction toy - LEGO®. BRICKLIVE actively encourages all to learn, build and play, and provides an inspirational central space where like-minded fans can push the boundaries of their creativity. Brick Live Group is not associated with the LEGO Group and is an independent producer of BRICKLIVE.

 Parallel Live Group

Parallel Live was founded by David Ciclitira in 2015 and owns the rights to promote BRICKLIVE in the USA. It will be responsible for running and promoting those events. Including the location hire, event design, event construction, advertising and marketing, media planning, website design, event management, public relations and ticket sales, while Lego Systems, Inc will provide some of the content.

Website:             www.livecompanygroup.com

LEI:                         213800AQWQYC4FH91312

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

 

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