Result of Meeting

RNS Number : 2643A

Parallel Media Group PLC

22 December 2017

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

22 December 2017

PARALLEL MEDIA GROUP PLC

(to be renamed LIVE COMPANY GROUP PLC)

(the "Company")

Result of Annual General Meeting, General Meeting, Directorate Changes, Change of Name and Website address and Voting Rights

Result of Annual General Meeting, General Meeting and Admission

The Company is pleased to announce that all resolutions put to Shareholders at the Annual General Meeting and the General Meeting, each held earlier today, were duly passed, including the resolution at the General Meeting to approve the Waiver which was passed by Independent Shareholders on a poll. Completion of the Proposals is expected to take place on 27 December 2017.

As shareholder approval has now been received, as required under Rule 14 of the AIM Rules, the admission of the Company's Ordinary Shares to trading on AIM will be cancelled (immediately prior to Admission) and the re-admission of the Company's Ordinary Shares to trading on AIM and dealings in such Ordinary Shares is expected to take place at 8.00 a.m. on 27 December 2017 ("Admission").

Change of Name and Website Address

At the General Meeting, Shareholders also approved the change of the Company's name from Parallel Media Group Plc to Live Company Group Plc. The change of name will be effective once Companies House has issued a certificate of incorporation on change of name. The Company's AIM symbol will change to LVCG with effect from 8.00am on 28 December 2017. The ISIN, GB00BGSGT481, will remain unchanged. 

Following the change of the Company's name becoming effective, its website address, which will include the information required by AIM Rule 26, will be www.livecompanygroup.com.

Directorate Changes

Following the passing of the resolutions at the General Meeting the Company announces, each with effect upon Admission, the appointments of Andy Smith, Executive Director and Simon Bennett, Non-Executive Director, as directors of the Company. Save as set out in the Admission Document, there is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies.

Total Voting Rights

Following completion of the Proposals and Admission, the Enlarged Issued Share Capital will comprise 48,207,793 Ordinary Shares. Each Ordinary Share has one voting right.  No Ordinary Shares are held in treasury.  Accordingly, the total number of voting rights will be 48,207,793.

The above figure may be used by Shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Live Company Group plc under the FCA's Disclosure Guidance and Transparency Rules.

Save as where defined, capitalised terms used in this announcement shall have the same meaning as in the Company's admission document published on 29 November 2017, copies of which are available on the Company's website. 

Enquiries:

Parallel Media Group Plc

David Ciclitira                                                                                    Tel: [phone]

Stockdale Securities Limited, Nominated Adviser and Broker

Richard Johnson / Edward Thomas                                          Tel: [phone]

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 ("MAR"). Upon publication of this Announcement, this information is now considered to be in the public domain.

About the Enlarged Group

Parallel Media Group

Parallel Media Group is a sports and live event entertainment agency founded by David Ciclitira in 1987 and admitted to AIM since August 2001. PMG worked within the golf sector for more than 25 years, promoting tournaments on the European tour before moving further into entertainment. In recent years, it has focused on connecting international brands with music solutions in Asia.

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 LEGO® LIVE in the USA as part of a three-year contract. 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.

 

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