Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Intends to acquire remaining shareholding in Start Art Global Ltd it does not own.
Start Art is an online art and digital art sales and news platform, in which Live Co currently holds a 20% interest.
In addition, Live Co plans to raise GBP600,000 through a placing of shares at 4.0 pence each, from which GBP120,000 will go towards making the initial cash payment for the acquisition. The placing price is a 13% discount to Thursday's closing price of 4.60p.
The remainder will go towards working capital needs and expansion plans for Kpop and Bricklive.
Acquisition and fundraise remain conditional on shareholder approval at a general meeting to be held on July 27.
Current stock price: 3.68 pence, down 20% on Friday
12-month change: down 25%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Live Company (LVCG)