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So why not mention these numbers in the rns? It makes no aense
Dasalus you are spot on. Lvcg will be getting a % of all the e fest rights at other venues. The market is clearly missing this along with fact they get a monthly fee for the cancelled e prix. So actually getting paid to do nothing this year! Sounds like a win all round.
If as u say the fees are known why not say hpw much i in an rns???
Market needs to see how much we will get in an official rns not articles dont you get it?
Several news articles were released on the multi-year agreement with Formula-E. Monthly revenue-producing for LVCG from now despite the delay to Season 9.
capetownetc.com/cape-town/buck…
slipstreamsa.blogspot.com/2021/10/cape-t…
formularapida.net/cape-town-aims…
https://twitter.com/lvcgplc/status/1450057935728660482?s=21
Tt56 Although news came out a couple of weeks ago, nothing had been confirmed by the FIA.
I have worked in Motorsport and we never made any final plans until we had FIA confirmation.
Even then all race meetings are subject to change
Mb10 remember what you said a few days ago? Why would it drop … its been known for 2 weeks… i think it was pretty obvious.. sorry but u need to wake up
The paragraph below the enquiries information should have been included in the main body of the RNS.
This is a major piece of information that is clearly being overlooked.
Perhaps a deliberate error ?
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.
Needs news. Big news.
Something that will ignite buying.
Something like an IP set rented out, with solid revenue declared.
Or Grimaldi Forum at Xmas.
Another LiveNation event as per contract.
The Company has stated every BrickLive set is profitable, StartArt is generating revenue since day one, and now they still getting a fee from the Formula E deal.
The problem is the Market isn't buying it, and no doubt neither are those watching.
That has to change, and change quickly.
Peoppe believe a placing isncoming
There’s plenty of evidence out there that the company are getting paid now for organising formula E in Cape Town and that contract is in excess of £5 million. Its also clear that the bricklive business is recovering with some good contracts over the winter months. The company is clearly in a better position today than it has been. People either believe that the company is recovering or they don’t, but there are very few companies that land a contract that’s more than their market cap. It makes a nonsense of the share price, but this is AIM
Mb10 talk all you want proof is the sp… im a holdet but i speak the truth
The company also confirmed it this morning on social media:
10 year major revenue producing agreement signed with Formula-E. Monthly fees start from now.
Its in the RNS. Here is exactly what is written.
“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.”
Mb10 if its known why not male it clear
In an rns
The deferral to the race to 2023 has been know about for a couple of weeks and the share price took a bit hit on that. This morning they confirmed that they are being paid a big management fee and that is being paid now.
This video explains the track design process for Formula E. Its quite complex, there are a lot of things to consider and involves a lot of authorities coming together just to get the final track design approved. Then, once road improvements have been done, the track build and installation commences a couple of months before the race, which all has to be done without closing roads (which only get closed the Thursday before the race weekend). Its normally 2 years from feasibility to race, so with the impact of covid on the road improvements its probably better that they deferred the race by 12 months so that they get this right for the next 10 years.
https://www.youtube.com/watch?v=LUycJ9eR6l8&t=1s
Morning Morning
They get the management fee from the FIA. There is clear evidence that other host cities get a $1.5 million fee. LVCG have said that this is a major revenue generator for them. Why do you think that they would get less than that.
Mb10 dont talk about other events we need to know the feee for this event
they also want F1 back in south africa in 2023 also - not held F1 in SA since 1993
https://www.news24.com/wheels/formulaone/f1-kyalami-wants-south-african-gp-confirmed-by-early-2023-20211017
10 year major revenue producing agreement signed with Formula-E. Monthly fees start from now. Plenty of events to take place in 2022 with Cape Town race now included in Season 9.
https://twitter.com/lvcgplc/status/1449994293633036291?s=21
as it states...which are revenue generating for lcse and is why the fees are continuing.
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.
Except it is in the RNS. Here is exactly what is written.
“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.”
They are being paid that big fat management fee right now. SEA7 has shown from other events around the world that its circa $1.5 million. That’s why they say its a major source of revenue. That’s more than the entire market cap of the company for this single contract.
Numbers needed otherwise….
Nothing about these fees in the rns