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Alliance News

Live Co Raises GBP1.6 Million As Bricklive Arm Signs Brazil Deal (ALLISS)

Mon, 8th Jan 2018 11:32

LONDON (Alliance News) - Shares rose in Live Co Group PLC on Monday as it raised GBP1.6 million through an oversubscribed private placing of 4.6 million shares at a price of 35 pence per share.

Shares in the event marketing and media agency rose 22% to 51.90p on Monday.

The private placing was conducted by Shard Capital Partners LLP, and the proceeds will go towards expanding BRICKLIVE's network in South America and Asia. The placing price of 35 pence was at a discount of 18% to the closing price on January 5.

Shard Capital Partners has been appointed joint broker, alongside Stockdale Securities Ltd.

Live Co now has 52.8 million shares issued overall.

In addition, Bricklive International Ltd, a subsidiary of the recently acquired Bricklive Group Ltd, which organises LEGO-themed events has signed a six-year contract with Universal Entretenimento e Producoes LTDA.

Under the contract's terms, Universal will organize, promote and stage each BRICKLIVE events, and Bricklive International will source and provide content. Bricklive will gain licence with revenue potential through merchandising and additional content income.

The contract will guarantee 30 events every 15 months, that will increase the number of contracted BRICKLIVE events in 2018 to 60.

"To start 2018 with such a significant increase in contracted events speaks volumes for the success of the BRICKLIVE brand. Having had such a successful start to the year, I look forward to continued growth in 2018, especially in our expanded emerging markets. We are delighted to welcome our new institutional and other investors to the register, including Miton Group PLC," said Executive Chairman David Ciclitira.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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