Live Company Group PLC Live Company Japan KK (0863P)
February 07 2023 - 2:00AM
UK Regulatory
TIDMLVCG
RNS Number : 0863P
Live Company Group PLC
07 February 2023
7 February 2023
LIVE COMPANY GROUP PLC
("LVCG", the "Company" or the "Group")
LIVE COMPANY JAPAN KK
LVCG is excited to announce that it has signed two agreements to
create a new joint 50%/50% venture partnership with M Group holding
and capital Co, Ltd ("M Group"), an international entertainment and
music management company (the "Investor"), which will be called
Live Company Japan KK (LVCJ). The agreements consist of a licence
agreement and an investment agreement which are detailed below.
Under the licence agreement, LVCJ will represent LVCG
exclusively in Japan with the following LVCG businesses, paying an
annual license fee (the 'Licence Agreement") to LVCG of GBP100,000
on approximately 20 February 2023:-
a) the StART Art Fairs and exhibitions;
b) LVCG's involvement in the K-Pop concerts;
c) as well as other business should the opportunity arise
Additionally via an investment agreement (the "Investment
Agreement") the Investor will invest in Live Company Japan JPY
100,000,000 (approx. GBP630,000) for its 50% shareholding and as
working capital by end of February 2023. This working capital will
remain in Japan in the JV business. Shareholders should note that
he Licence Agreement and the receipt of the first annual licence
fee by LVCG are conditions precedent to the Investment Agreement to
be satisfied by the 17 February 2023.
Chairman David Ciclitira commented:
"K-pop has exploded into Japan's music industry and is changing
the shape of the South Korean music culture. As K-pop's influence
grows in all directions in terms of culture, self-reflection is
growing on Japan's idol culture and the fan base is becoming
stronger and bigger.
"The art scene in Japan offers a diverse modern and contemporary
art landscape which is ripe with innovation and imagination. The
fairs and exhibitions in South Korea and the UK have shown that
Japan is the next country to be in to showcase the artists and to
elevate it to be a major player on the world's art stage.
" I am delighted that we have formulated a partnership with M
Group holding and Mr MIwa Nakabayashi, CEO and founder of M Group
in Japan which has the biggest K-Pop market after Korea and look
forward to working with them across a number of different projects
including StART Japan"
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 based around KPOP. The Company owns the rights
to the K.Flex brand and through its joint venture with the
Explorado group KPOP Europa (KPE) is a partner in and the Executive
Producer to K.Flex in Frankfurt.
The Company also owns the brand KPOP Lux and is the executive
producer to KPOP Lux in Madrid and London. Both Madrid and London
KPOP Lux shows are produced in partnership with SBS - the Korean
television network.
-- The third is StART Art Global (SAG). SAG owns StART Art Fair
in London which has been staged over the last 9 years at the
Saatchi Gallery. SAG has licensed the rights to the StART brand in
Korea. The licence includes the right to create and run StART Art
Fair Seoul and various StART+ exhibitions, the first of which
highlighted the works of Ohnim the second of which due to open the
last week of February the works of a British artist Mark
Sloper.
SAG has also licensed the right to the StART brand in Japan to
Live Company Japan a joint venture with M Group Holdings Co. SAG
has also licensed the brand to Live Company Korea to create StART
Art Coin (Cryptocurrency).
-- The fourth division is Live Company Sports and Entertainment
(LCSE). LCSE owns LCSE Pty in South Africa LCSE Pty has a long term
relationship with Pick 'n' Pay and the Global Ocean Race.
LCSE is a shareholder in E-Movement - the promoter of the
Formula E Race in Cape Town. As part of this relationship
E-Movement has retained LCSE (through E-Movement holdings) as its
implementation partner. E-Movement Holdings a 100% subsidiary of
Live Company Group has the right to sell sponsorship for the
Formula E race in Cape Town.
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