Review of Recent Events

RNS Number : 4150R

Live Company Group PLC

01 March 2023

 

 1^st March 2023

LIVE COMPANY GROUP PLC

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

REVIEW OF RECENT EVENTS

LVCG is delighted to provide an update on a number of events that it managed over the past week.

Formula E

Saturday's race was filled with plenty of unexpected results with the championship leader out in the first few laps. An ecstatic Antonia Felix De Costa racing for Porsche took first place in a fight to the flag with former teammate Vergne.

LVCG was proud to bring Formula E to Cape Town in a record short time from final confirmation in the race calendar in October 2022 and as previously announced was delighted to have a sold-out inaugural event.

While revenue was generated this year principally from a staging fee of £200,000 as there was no title sponsor in this inaugural year, the Company is hopeful that with the success of the event that a title sponsor can be retained for 2024 and is delighted to report that is it already in discussions with various parties.

The learnings from the 2023 race form a great base for 2024 and additional revenue streams for LVCG such a merchandising can be explored.

StART + at Formula E

StART also continued its collaboration with Formula E with an exhibition of South African artists trackside that included Bassa, Gavin Goodman, Jooj, Morris and Vincent Da Sillva.

The exhibition reinforces StART and Formula E's commitment to support emerging artists and their local community and showcase local art in front of the local city population.

The Company looks forward to announcing further collaborations with Formula E in this space.

Ocean Race

On 26^th February Cape Town saw a 'wild start' to the third and longest leg of the Ocean race. The race started with two and a half laps of an inshore course to give the crowds lining the Cape Town shore a chance to view the hydrofoiling boats before they set sail out to the Southern Ocean.

With plenty of technical difficulties and the presence of whales it was an exciting start to the race.

LCSE as organisers of the stop-over receive a fee for the event. The Company is currently exploring ways of expanding on the Cape Town stopover and adding additional revenue streams to this amazing event.

StART+ Seoul

Mark Slopers solo exhibition opened on the 23 February with a VIP reception at StART Art Korea's new fashionable Sungdong-gu gallery space. The exhibition 'The Art of Neon by Mark Sloper - Illuminati Neon' presented more than two dozen never before seen works and is the artist's first solo in Seoul. It will run until the 12^th March. Also included are new collaboration works between local artist Regina Kim who also participated in StART London last October (2022). Accompanying the original and limited-edition artworks is a range of exclusive complementary merchandise with everything available for purchase online as well as at the gallery.

Chairman David Ciclitira commented: "It was a massive privilege to be part of Formula E in Cape Town this past week-end. I feel immensely proud of what the team in South Africa achieved in such a short space of time. The FIA said it was one of the best races in Formula E ever and I can't wait to see what we can do to add to this race in 2024"

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]

About 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 of these shows are produced in partnership with SBS - the Korean television network. The Company organises an annual Japanese KPOP festival called KPOP Lux Nagoya in partnership with Birdman - a leading advertising and entertainment company based in Tokyo.

· 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.

LVCG is a founder 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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