RNS Number : 4199A
Live Company Group PLC
01 June 2021
 

 

 

1 June 2021

 

LIVE COMPANY GROUP PLC

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

 

FURTHER PARTIAL LOAN CONVERSION

 

Live Company Group plc (AIM: LVCG) is pleased to announce that further to the announcement of 26 June where Brick Live International Limited ("BLI") and Mr Ciclitira have agreed to amend his £0.5 million loan announced on 15 April 2020 (the "Loan"), such that £205,000 of the Loan was converted into shares in the Company (the "Conversion"), Mr Ciclitira has subsequently agreed to convert a further £30,000 of the Loan into shares of the company to take effect after the forthcoming publication of the Company's annual accounts.

 

 

This partial conversion of £30,000 of the Loan at the Issue Price of the placing announced on 4 May 2021, increasing Mr Ciclitira's equity interest in the Company to 25%.

Following Conversion, £90,823 of the Loan will remain outstanding, with all other terms of the Loan remaining the same.

 

 

David Ciclitira, Executive Chairman of LVCG, said: " I am also pleased show my support and belief in the company via a further conversion of 25 % of the outstanding balance of my Loan into shares at the same price as the Placing announced last month. I remain a strong believer in the equity story of our business."

 

 

 

 

Partial Loan Conversion

Further to the Company's announcement on 15 April 2020, where Mr Ciclitira, the Chairman, provided a loan of £500,000 to BLI, and the subsequent announcement on the 26 June 2020 where the Company's wholly owned subsidiary, BLI and Mr Ciclitira have agreed to further amend the terms of the Loan, such that £30,000 of the Loan will be converted into 600,000 new Ordinary Shares (the "Conversion Shares") at 5p per ordinary share (the "Conversion"). As a result of the Conversion, Mr Ciclitira will increase his percentage interest in the Company's enlarged issued share capital to 25% (his post placing holding being 36,684,874)

 

Following the Conversion, the principal of the Loan outstanding will be £90,823, with all other terms of the Loan remaining the same.

 

AIM Application, Total Voting Rights and Directors' Interests

 

The Conversion Shares, which are being issued under the Company's existing share authorities will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the Conversion Shares.

 

 

Application will be made for the admission to trading on AIM of the 600,000 Conversion Shares.  Dealings are expected to commence on 1 July 2021 in respect of the Conversion Shares ("Admission").

 

Following Admission, the enlarged issued share capital of the Company will comprise  146,601,763 Ordinary Shares.  Each Ordinary Share has one voting right.  No Ordinary Shares are held in treasury.  The above figure may be used by LVCG 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, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

Enquiries:

 

Live Company Group Plc

David Ciclitira, Executive Chairman

Sarah Dees, Chief Operating Officer

Tel: 020 7225 2000

 

 

Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish/Rosalind Hill Abrahams

Tel: 020 7628 3396

 

 

 

 

Monecor (London) Limited (Broker)

Elliot Hance

Tel: 020 7392 1436

 

 

LIVE COMPANY GROUP

Live Company Group plc ("LVCG", the "Company" or the "Group") is a live events and entertainment company, founded by David Ciclitira in December 2017.  The Company was admitted to trading on AIM in December 2017, following the reverse acquisition of Brick Live Group and Parallel Live Group by LVCG.

 

The Group is a network of partner-driven fan-based 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.  BRICKLIVE, which is fast becoming a leading children's education and entertainment brand, actively encourages all to learn, build and play, and provides inspirational events and shows where like-minded fans can push the boundaries of their creativity.  Bright Bricks is the Group's production centre for building brick based models.  The Group is an independent producer of BRICKLIVE and is not associated with the LEGO Group. The Company also manages a number of sports, entertainment and lifestyle events via its recently created LCSE (Live Company Sports and Entertainment) division. Add start investment or?

 

Website: www.livecompanygroup.com.

 

 

 

 

 

 

 

 

LIVE COMPANY GROUP

Live Company Group plc ("LVCG", the "Company" or the "Group") is a live events and entertainment company, founded by David Ciclitira in December 2017.  The Company was admitted to trading on AIM in December 2017, following the reverse acquisition of Brick Live Group and Parallel Live Group by LVCG.

 

The Group is a network of partner-driven fan-based 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.  BRICKLIVE, which is fast becoming a leading children's education and entertainment brand, actively encourages all to learn, build and play, and provides inspirational events and shows where like-minded fans can push the boundaries of their creativity.  Bright Bricks is the Group's production centre for building brick based models.  The Group is an independent producer of BRICKLIVE and is not associated with the LEGO Group.

 

Website: www.livecompanygroup.com.

 

 

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