TIDMLVCG
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 GBP0.5 million loan announced on 15 April 2020 (the "Loan"),
such that GBP205,000 of the Loan was converted into shares in the
Company (the "Conversion"), Mr Ciclitira has subsequently agreed to
convert a further GBP30,000 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 GBP30,000 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, GBP90,823 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 GBP500,000 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 GBP30,000 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 GBP90,823, 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 Tel: 020 7225 2000
David Ciclitira, Executive Chairman
Sarah Dees, Chief Operating Officer
Beaumont Cornish Limited (Nominated Adviser) Tel: 020 7628 3396
Roland Cornish/Rosalind Hill Abrahams
===================
Monecor (London) Limited (Broker) Tel: 020 7392 1436
Elliot Hance
===================
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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END
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