Update on StART Investment

RNS Number : 2835U

Live Company Group PLC

02 December 2021

 

2 December 2021

LIVE COMPANY GROUP PLC

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

UPDATE ON StART INVESTMENT

Live Company Group plc (AIM: LVCG) provides a progress report received from its minority investment in Start Art Global Ltd ("StART").

Highlights

· The platform formally went live in October 2021

· Revenues to date are now in excess of $200,000

· Merger of physical art shows and digital with the purchase of StART fairs

· Technological development continuing and innovations shared across the LVCG Group

Further to  the successful platform launch of StART in October at 8th edition of StART Fair at Saatchi Gallery, the StART team have provided the following progress report:

Operationally the company is functioning well with its international shipping contract with DHL.  Furthermore, the purchase of StART Fair and StART + allows the group to marry the physical with the digital - allowing artists the chance to show their work, sell it online then deliver to customers world wide.

StART + at ARX in London's Brompton Road, which provided a chance to further showcase the groups NFTs, has proved to be extremely popular and has hence been extended by an additional six months. The 9^th Edition of StART fair is currently in planning for 2022 and additional live exhibitions are also being planned in the StART + space.

In Korea a second StART + is planned in Seoul for January 2022 which will showcase KPOP art works and limited editions. Additionally, a joint venture to market NFTs in Korea is currently being negotiated. Further art fairs are planned both in Korea and elsewhere in Asia for 2022.

Chairman David Ciclitira commented:

"I am delighted with the progress of StART and believe that LVCG's investment will be value accretive for the group as the StART team begin to deliver an ambitious strategy across the physical and virtual art space. The world is content hungry right now both for virtual and in person experiences - which StART delivers. Furthermore, the world-class technology they are developing is something which may have revenue generating opportunities within the Group itself including LCSE."

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]
Monecor (London) Limited (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 two divisions the first, 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, LCSE, manages a number of global sports, entertainment and lifestyle events. LCSEs main focus for 2021 has been the successful launch of the Formula E Cape Town race for series 9 in 2023.

It also has a minority investment in Start Art Global Ltd an on-line and physical art and digital art platform (www.start.art).

 

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