Live Company Group to host BRICKLIVE shows in Germany
entered into an agreement with AWC, a wholly owned subsidiary of Explorado Group, who have previously organised international blockbuster exhibitions, including amongst others, the Harry Potter and Game of Thrones exhibitions in Germany.
Andreas Waschk, Chairman of the Explorado Group and AWC, said: "AWC is very pleased to announce its partnership with LVCG, a leading player for live and entertainment events.”
“The concept of BRICKLIVE shows matches our aspirations to deliver high-class edutainment exhibitions through encouraging learning, building and playing. We look forward to working with LVCG to deliver BRICKLIVE shows in Germany and potentially throughout Europe."
AWC is to organise a BRICKLIVE interactive show and a BRICKLIVE Brickosaurs show, both taking place at Odysseum in Cologne for four and three months respectively, as well as a BRICKLIVE Force touring show at Explorado in Duisburg, for a period of approximately five months.
David Ciclitira, Executive Chairman of Live Company Group, said: "I am delighted to have AWC, a leading player in the exhibition sector, as our partner to deliver BRICKLIVE shows in Germany and potentially across Europe. We very much look forward to developing the partnership and to develop new show concepts as we seek to continue to expand the BRICKLIVE brand."
Under the agreement, AWC is to become Live Company Group’s exclusive partner in Germany, and non-exclusive partner in the rest of Europe, working to develop concepts for future BRICKLIVE shows, including a Christmas show, as well as furthering its BRICKLIVE Zoo programme in the country.
The agreement is for a four-year term, with a break clause after the first year, where AWC is subject to organising at least three BRICKLIVE shows per year, paying the company a licence fee for each BRICKLIVE show it organises, receiving a commission for each BRICKLIVE Zoo show it delivers in Germany.
AWC is also to provide Live Company Group with logistical support, including warehousing for the models, allowing the company greater access to central Europe.
Shares in Live Company Group were trading 4% higher at 65p a share following the announcement of the agreement and a fundraise.
In a separate release, the company announced an equity fundraise of £2.2 million at a placing price of 65p a share, a 4.8% premium, for certain existing investors including Chairman David Ciclitira who currently holds over 40% of shares.
It also issued 1.25 “sticky” warrants for every share issued in the fundraise, with terms dictating that if a warrant holder holds less shares that were allotted at the fundraise, then the warrants will automatically lapse.
The funds raised are to be used to finance the expansion of the BRICKLIVE Zoo programme, with seven shows already scheduled and seven additional shows projected for 2019. The company also noted that revenues for 2018 were broadly in line with expectations, with a strong order book and pipeline of opportunities for 2019.
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