Member Info for MB10

In 2017 there were over 200,000 visitors to the volvo ocean race village at the V&A waterfront in Cape Town.

https://www.futuretrucking.co.za/economic-boost-for-the-mother-city-as-volvo-ocean-race-drops-anchor-in-cape-town/

The Volvo ocean race stopover being managed by LCSE is at Cape Town from 5 Feb with a departure the day after the Formula E race will also attract a lot of visitors to Cape Town. Clearly there is going to be a lot of cross over between the events. Link to the 2017 VoR below, which includes a report by Bruce Parker Forsyth, so the team running the VoR and Formula E are pretty experienced at this.

https://www.theoceanrace.com/en/route/cape-town

https://blog.samsa.org.za/2017/11/28/volvo-ocean-race-a-major-contributor-to-south-africas-oceans-economy-va-waterfront/

https://www.carmag.co.za/news/cape-town-e-prix-2023-south-africa/

https://twitter.com/junaidsamodien_/status/1590728282617524226?s=61&t=JAG_u56QWMrG4vVZjir4HQ

IMO nobody looks at tweets from the company. The market listens to what’s in an RNS.

I believe that there is some cut of revenue to come from the official partners for the event

https://capetowneprix.com/cape-town-e-prix-partners/

For this year, when the race wasn’t on, LCSE got €350,000 a year to prepare for the event.

In future years they get €800,000 a year organising fee.

The £3m estimate is just for the 30,000 seated tickets. There is a general admission ticket too, priced around £18. As KNIGEL says there is also revenue to come from other ares, but I would add that includes the sustainability conference, the golf tournament (which will have sponsorship and TV rights) and the concert being planned. As to the cut for tickets, that’s not clear, but whatever the cut is, LVCG get 100% of that.

Looking at the ticket prices and rough distribution of tickets over the 30,000 seats, I’d say it’s over £3 million in ticket sales.

Meanwhile Mr 119,690 held for almost 90 minutes - suppose that’s better than just an hour. But you do have to wonder what the plan was when he took that trade ?

Tickets seem to have gone on sale for Cape Town today. Hopefully RNS news in this soon.

https://capetowneprix.com/2023-cape-town-e-prix-tickets/

Sells showing as buys, buys showing as sells, delaying both buys and sells. It’s all part of the market muppets little black book of tricks to confuse ;-). But absolutely no manipulation of the bid/ask (allegedly).

A whole thread has disappeared. That happens when admin delete posts within the thread. Guess you can’t be an angry man and post libellous comments about the board on a public forum with no consequences.

Worth reposting the interview with Ian Banner. Tickets expected to be on sale this week. There are 30,000 grandstand seats which range from £50 to circa £120 plus there’s general admission at £18.

Revenue for FE is being generated from sponsorship, ticket, hospitality, exhibition and merchandise sales, plus operational fees and commissions.

https://omny.fm/shows/the-john-maytham-show/formula-e-cape-town

https://media.umbraco.io/live-company-group/rohngboi/lvcg-investor-presentation-dec-2020.pdf

The market muppets have their little black book out today trying to confuse the share price.

Loving Mr 147,386 who held for over an hour before selling for a loss. These wannabe trading idiots would be much better giving the details of their bank accounts directly to the muppets and cut out the middle man ;-)

Attracting day traders is fine, it takes everyone to make a market.

It’s attracting the wannabe trading clowns, the ones that feed the market muppets when it’s NT to buy, the 5 minute long term holders, that is killing the markets.

Jimmy stocks

The actual quote is “going to add significant PROFIT to the group” (not revenue) ;-)

Confirmed that Ranjit isn’t selling more, and sold to pay a tax bill.

New CFO and recruiting for a CEO too. That’s good news as it will provide more balance on the Board.

Interested in the very exciting development in StartArt digital space involving Jason Lee that will be a significant contributor to the group profit in the future

Simply Wall Street is an automated analysis, just scrapes data and regurgitates it.

https://www.thetimes.co.uk/article/alexander-armstrong-in-south-korea-i-ate-things-nobody-should-put-in-their-mouth-qpmf6nrzt?shareToken=0ceb30f87d338874cca0e2e5709d8e0b

Article in advance of Alexander Armstrong’s travel programme airing on Tuesday for 3 weeks that talks about the Korean wave. It’s clear that KPOP is only just starting its global advance.

"I really fell for K-pop. It's madly infectious, like a virus that gets right under your skin. It's not just an earworm; it's like an ear tapeworm." K-pop ends up being a sort of extended metaphor for how he would translate his fortnight and a bit in South Korea to the rest of the world. "There's something about the flavour combination that Korea gives you," he muses. "It's a mixture of cute, a mixture of absurd a mixture of catchy and a mixture of slightly uncomfortable anodyne sexuality.”

Happy to be corrected (down to autocorrect). Yes the target EBIT for StartArt this year is £488,000. Just that division was independently valued (by one of the top 5 auditing firms in the UK) in the summer and it’s valuation is the same as the market cap of the whole company.

The concert was cancelled because of the tragedy. Itaewon is an absolutely devastating tragedy. Think how big and what an impact the Hillsborugh stadium disaster had on the National consciousness, and then reflect on the fact this was bigger. They announced they are working on a minimum of 5 events in 2023. Those are not yet in place, but they have given a target to announce those very soon (Dec).

There are two confirmed KPOP concerts for next year, Frankfurt and the O2. Tickets for Frankfurt are already on sale, and they have sold over 10,000 before the artist line up has been announced. Remember they have an automatic 5 year option (at no upfront cost to lvcg), so they are already building an event loyalty.

“Opportunity for multi-year event available on an automatic option for KPE to a maximum of five years”

But ticket sales for the O2 in Sep 23 are not yet on sale. They have told the fans that they will offer them early access to O2 in 2023 (that’s good business) but there is the possibility that the concert will be rescheduled too.

“We hope that this is just a postponement and will make a further announcement if we are able to reschedule.”

Some other points. The LVCG KPOP division is more than just one concert. Remember that this time last year there weren’t even any concerts announced, or the arrangements in place to have any. The company are now puttIng in place multiple (recurring) concerts around Europe, not just one offs. That first concert made a profit which for big events in their first time is almost unheard of, and it’s not too difficult to see how that profit can be significantly increased with merchandising, streaming and sponsorship.

LVCG is also not just about KPOP. Formula E for Cape Town has been confirmed for February 23, which is a 10 year recurring event (5 + 5 years). Then there’s the efest with its concert, golf tournament (organised by Ernie Ells) and sustainability conference. The team are already on record saying that they are in discussions to bring the efest to 4 other host cities.

Then there’s the Volvo ocean race in Feb 23, the cycling event in March 23, and they just announced a more than doubling the events already contracted for bricklive in 2023 as well as Christmas rentals.

Then there’s StartArt which has a target of £488,000 EBIT in 2023, which lvcg now have 100% of and we are waiting to see why Jason Lee put £500,000 into the company and why he brought his team over to London.

Covid has devastated the events industry and many companies have had to close down, yet LVCG has not only survived without taking on massive debt, and has expanded its offering very significantly, and continues to expand. IMO any single element of the company is worth more than the current market cap (the loose brick stock alone is worth more). Its also easy to see how each division might be sold, and plenty of examples out there of what these recurring events might be worth (way more than th

The artists have neither performed nor travelled, so I doubt if we paid anything. O2 will be have been on a revenue/profit share of tickets so the same. Plus ticket sales are held by the ticket seller not lvcg, so they deal with refunds. If anything cancelling means cash flow to early next year when formula e, efest and Volvo ocean race is improved IMO. As to Frankfurt etc, over £1m tickets sold already before the line up is revealed. If that’s attractive enough like last time it will sell. There’s always complaints after a concert is cancelled, but this is down to a tragedy and cancellation was supported by the artists so hardly the brand at fault. Look at the Adele concert last year when she cancelled. Lots of vitriol. Now people falling over themselves to get tickets.

The main question IMO is has he stopped selling? That’s what’s been the downward pressure on the share price recently, and in common with shares actually held by the “genius non holders”, if there’s a seller most people hold back from buying. The fact that there was a round 3m sold, that he started selling and tried to disguise that fact before declaring to the company as the last lot of Friday printed, means he has IMO.