Formula E Update

RNS Number : 5111P

Live Company Group PLC

10 February 2023

 

10^th February 2023

LIVE COMPANY GROUP PLC

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

FORMULA E UPDATE

Live Company Group Plc are pleased to provide an update on the Formula E Race which is due to take place in Cape Town in 15 days' time.

Whilst as previously notified no Title Sponsorship was obtained, smaller sponsorship agreements have now been signed with the following companies:

· City of Cape Town

· Western Cape Government

· South African Tourism

· Nissan

· Uber

· E-tv

· Nedbank

Ticket Sales

Currently over 15,000 tickets so far have been sold from the potential total of 21 000 which is already 70 % of the tickets sold and the expectation is to sell out prior to the event on 25^th February.

Furthermore, Corporate Hospitality has now been sold out with 3400 VIP Guests and the Company will be hosting a 30-person suite in the track side lounge.

There has been significant media interest in the participation of 11 teams joining the race and there will be world-wide media coverage of the event on various broadcasting channels including Channel 4 in the United Kingdom.

David Ciclitira Chairman of Live Company Group said, " I am so proud to be a part of this project with my fellow partners Bruce Parker-Forsyth and Iain Banner. It has been and incredible journey to reach this point. I'd like to congratulate Bruce who heads the staging team on his amazing achievements. What's particularly exciting is at the same time as LCSE's involvement in Formula E we are also hosting the premier "Olympics Around the World" The Ocean Race that starts on Sunday 26^th following day. We are delighted with our current sponsors and so pleased they could join us for this inaugural Cape Town race. We are currently in advanced discussions to sign a Title Sponsor from this list for next year's race."

Bruce Parker-Forsyth CEO of Live Company Sports & Entertainment said, "We opened The Ocean Race Village yesterday mid-day with the Mayor of Cape Town Geordin Hill-Lewis and then 3 hours later he Opened the Cape Town e Prix Track - so it was a big day for Live Company Sport & Entertainment."

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. 

· 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 shows are produced in partnership with SBS - the Korean television network.

· 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.

LCSE is a [Please say what percentage] 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.

 

END

 

 

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