FORMULA E ANNOUNCEMENT FOR CAPE TOWN

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 David Ciclitira, Executive Chairman Sarah Dees, Chief Operating Officer	Tel: [phone]
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Rosalind Hill Abrahams	Tel: [phone]
Oval(X) (Broker) Thomas Smith	Tel: [phone]

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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