Update on Jason Lee Investment

RNS Number : 3824V

Live Company Group PLC

04 April 2023

 

6th April 2023

LIVE COMPANY GROUP PLC

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

JASON LEE INVESTMENT UPDATE

LVCG provides an update on the investment from Mr Jason Lee. On 18 November 2022, it was announced that Mr Jason Lee had agreed to subscribe a further £750,000 at 3p per share (25,000,000 new Ordinary Shares) in tranches over the period January to March 2023.

The Company announces that these payments have been delayed and the £750,000 outstanding has now been agreed to be paid over the following period: with £250,000 paid before the end of April and the remaining £500,000 to be paid by the end of September. The first £250,000 will be at the original 3p level while the £500,000 will be no lower than the prevailing 10 day vWap of the closing price per ordinary share.

In the meantime, the Company remains in discussions regarding other possible advance payments in relation to various KPOP events previously announced, with further details to follow as and when concluded.

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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