Live Company Group PLC FORMULA E ANNOUNCEMENT FOR CAPE TOWN (5495D)
October 20 2022 - 4:16AM
UK Regulatory
TIDMLVCG
RNS Number : 5495D
Live Company Group PLC
20 October 2022
20(th) October 2022
LIVE COMPANY GROUP PLC
("LVCG", the "Company" or the "Group")
FORMULA E ANNOUNCEMENT FOR CAPE TOWN
LVCG is pleased to announce that following our previous
announcement on 4(th) March 2022 where we announced the Cape Town
track for the Formula E race (E-Prix) that will take place in
February 2023 we can confirm that FIA will add Cape Town to the
2023 Formula E Calendar.
The E-prix will be the focal point of E-Fest, a week-long
showcase of sustainability, e-mobility and renewable solutions. The
route will start at Green Point's Vlei Road and wind its way
through the Green Point and Waterfront districts.
Additionally the Company would like to announce that E- Movement
Ltd of which E- Movement Holdings( 100% LVCG subsidiary) now ,post
investment, owns 14.83% has attracted an investment of ZAR16.5M
(GBP0.825 M) which will value that company at ZAR 63M (GBP3.15M).
This in turn implies a ZAR 9.3M (GBP0.47M) (valuation for LVCG's
stake - a close to 500% increase in investment.
Chairman of LVCG David Ciclitira commented:
'During Covid we had the vision to diversify our offering and
acquired a sports and entertainment business in South Africa now
our LCSE division. That company had the mission to introduce
Formula E into South Africa and through LVCG's support that dream
has now come to fruition. I am incredibly proud that all the
tireless work for the team has paid off with the successful
confirmation of Cape Town as part of the 2023 Formula E world
championship race calendar. I would like to thank Bruce and his
team for making this vision a reality. I look forward to our
shareholders joining us at this exciting event'
CEO of LCSE Bruce Parker-Forsyth commented: "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"
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
===================
Oval(X) (Broker) Tel: 020 7392 1436
Thomas Smith
===================
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 four divisions; 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 is KPOP which owns the K.flex
brand. K.flex is Europe's first ever Mega KPOP music festival. The
third is Live Company Sports and Entertainment, which manages a
number of global sports, entertainment and lifestyle events. The
fourth division is StART Art Global. StART Art Global is a
combination of both physical art shows and a digital art
platform.
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