Live Company Group raises £2.1m to expand shows; reaches agreement with AWC to stage shows in Germany

Writer, Stock Market Wire
Monday, February 11, 2019 - 10:00

Live Company Group said it reached agreed with AWC to stage live shows in Germany and confirmed it had raised about £2.1m through placing of shares to fund the expansion of its Bricklive Zoo group.

The company raised, in aggregate, approximately £2.2m with approximately £1.36m raised via the placing of 2,084,616 shares at 65p a share. The company also raised approximately £0.84m via the subscription of 1,299,996 shares.

The company said it would also issue participants in the fundraise 1.25 warrants for every placing share and subscription share issued, granting each investor warrant the right to one share on its exercise.

Live Company Group CEO David Ciclitira had agreed to invest approximately £250,000 in the fundraise comprising approximately £100,000 in the placing and approximately £150,000 in the subscription.

In a separate statement, the company said it had entered into an agreement with one of Germany's leading exhibition promoters, AWC to stage 'Bricklive' shows in Germany.

The four-year agreement with AWC included a break clause after the first year.

Under the Agreement, AWC would pay a licence fee to the group for each Bricklive show that it organised, with AWC receiving a commission from the group for each BRICKLIVE Zoo show delivered in Germany together with further payments for any additional services it provides to the group.

The company confirmed that revenues for 2018 were broadly in line with expectations and a positive start to 2019 had been made, with a strong order book and pipeline of opportunities across the group, the company said.

At 10:00am: (LON:LVCG) Live Company Group Plc share price was +0.5p at 62.5p

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