Live Company Japan KK

RNS Number : 0863P

Live Company Group PLC

07 February 2023

 

7 February 2023

LIVE COMPANY GROUP PLC

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

LIVE COMPANY JAPAN KK

LVCG is excited to announce that it has signed two agreements to create a new joint 50%/50% venture partnership with M Group holding and capital Co, Ltd ("M Group"), an international entertainment and music management company (the "Investor"), which will be called Live Company Japan KK (LVCJ). The agreements consist of a licence agreement and an investment agreement which are detailed below.

Under the licence agreement, LVCJ will represent LVCG exclusively in Japan with the following LVCG businesses, paying an annual license fee (the 'Licence Agreement") to LVCG of GBP100,000 on approximately 20 February 2023:-

a)  the StART Art Fairs and exhibitions;

b)  LVCG's involvement in the K-Pop concerts;

c)  as well as other business should the opportunity arise

Additionally via an investment agreement (the "Investment Agreement")  the Investor will invest in Live Company Japan JPY 100,000,000 (approx. £630,000) for its 50% shareholding and as working capital by end of February 2023. This working capital will remain in Japan in the JV business. Shareholders should note that he Licence Agreement and the receipt of the first annual licence fee by LVCG are conditions precedent to the Investment Agreement to be satisfied by the 17 February 2023.

Chairman David Ciclitira commented:

"K-pop has exploded into Japan's music industry and is changing the shape of the South Korean music culture. As K-pop's influence grows in all directions in terms of culture, self-reflection is growing on Japan's idol culture and the fan base is becoming stronger and bigger.

"The art scene in Japan offers a diverse modern and contemporary art landscape which is ripe with innovation and imagination. The fairs and exhibitions in South Korea and the UK have shown that Japan is the next country to be in to showcase the artists and to elevate it to be a major player on the world's art stage.

 " I am delighted that we have formulated a partnership with M Group holding and Mr MIwa Nakabayashi, CEO and founder of M Group in Japan which has the biggest K-Pop market after Korea and look forward to working with them across a number of different projects including StART Japan"

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 based around 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 to K.Flex in Frankfurt. 

The Company also owns the brand KPOP Lux and is the executive producer to KPOP Lux in Madrid and London. Both Madrid and London KPOP Lux shows are produced in partnership with SBS - the Korean television network.

· The third is 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, the first of which highlighted the works of Ohnim the second of which due to open the last week of February the works of a British artist Mark Sloper.

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 StART Art Coin (Cryptocurrency).

· The fourth division is Live Company Sports and Entertainment (LCSE). LCSE owns LCSE Pty in South Africa LCSE Pty has a long term relationship with Pick 'n' Pay and the Global Ocean Race.

LCSE is a 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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