Live Company Group PLC Update on Formula E (3061P)
October 18 2021 - 2:00AM
UK Regulatory
TIDMLVCG
RNS Number : 3061P
Live Company Group PLC
18 October 2021
18 October 2021
LIVE COMPANY GROUP PLC
("LVCG", the "Company" or the "Group")
UPDATE ON FORMULA E
Live Company Group plc (AIM: LVCG) presents further information
with regards to the Formula-E race in Cape Town. Following the
announcement on 13 July confirming the ratification of the
Formula-E calendar and inclusion of Cape Town, Formula-E and
e-Movement (Pty) Ltd, have agreed that due to the ongoing impacts
of the Covid-19 pandemic that continue to be felt in South Africa
and internationally, the inaugural Cape Town E-Prix is set to be
staged in Season 9 (ie in 2023), rather than Season 8 as originally
intended and announced, delaying by one year the commencement of
the five-year (with additional five year option) commitment to host
E-Prix in Cape Town.
There will still be a number of key events in 2022 building up
to the inaugural race including the track reveal and an
e-Investment seminar to map out a 10 year programme of strategies
to drive the e-mobility economic sector and positive effects on
climate change and LCSE is leading the preparations to host the
maiden race in Cape Town.
The Company will provide a further update on Formula E and the
LCSE division in its next operational update.
LCSE Managing Director Bruce Parker-Forsyth commented:
"Despite the delay which is disappointing LCSE is extremely
proud to be delivering an event of this calibre to the South
African public. Plans are well underway for us to host the maiden
race here, and we are working closely alongside the City of Cape
Town and Formula E Operations delivery teams to deliver a
prestigious, world-class spectacle of motor racing like never seen
before in our city. Co-founder and Chief Championship officer
Alberto Longo is quoted as saying 'we cannot wait to see you in
Cape Town in season 9' and that '... we have a very long term
partnership with our friends at E-Movement. We at LCSE cannot wait
either."
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
===================
LVCG through its 100% owned subsidiaries Live Company Sports and
Entertainment (Pty) Limited (LCSE) and E Movement Holdings Limited
(EMHL) holds the exclusive worldwide sponsorship rights, and is the
project management and delivery partner, for the Cape Town E-Prix,
and additionally holds the worldwide moral and intellectual
property rights to the E-Fest concept.
Project management and delivery fees are ongoing irrespective of
the postponement to Season 9.
The Cape Town E-Prix is a major source of revenue for LVCG.
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 8 in 2022.
It also has a minority investment in Start Art Global Ltd an
on-line art and digital art platform (www.start.art).
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