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Not wasting time getting going with new bookings

https://www.bressingham.co.uk/events/bricklive-brick-models-visit-bressingham.aspx

Well Trudy and Mark achieved getting DC taking 50% less out of the company without taking salary shares or deferring payment either, which just doesn’t fit the narrative some are trying to spin.

The morally outraged brigade (but I note that indignation doesn’t apply to shares they actually trade or own of course ;-O) have totally missed the real point. These ruthless cost cutting measures have extended the cash runway in the next 6 months by over £430k and further reduced operating costs by £500k. That’s on top of the £0.9m op cost savings they made last year. The existing 24 touring sets are all paid for, so their GP is pretty high (>90%), plus there are the new businesses to add to the revenue streams.

All this cost cutting and revenues gearing back up, with his 32% shareholding, I can’t help wondering if he has in mind a different way of taking cash out of the company, one that distributes cash to shareholders? If it was, its certainly an approach that would get the support of at least one shareholders.

Looking good for being able to open zoos and shopping centres by Easter, plus an even bigger recovery well before the summer season starts. The UK will have reached that level of vaccinations before Easer and it’s likely that the whole population will have been vaccinated by May. Shows a return to sports, concerts and live events too.

“On Saturday, the health ministry said studies revealed the risk of illness from the virus has dropped 95.8% among people who have had both doses of the Pfizer vaccine.
It also found that the vaccine was 98% effective in preventing fever or breathing problems.”

https://www.bbc.co.uk/news/world-middle-east-56143126

More dots joining up.

https://www.grandprix247.com/2021/02/06/analysis-the-prospect-of-a-south-african-grand-prix-return/
“World Rallycross is expected to return to Cape Town in December, where a Formula E bid is also in its advanced stages.”

BBC to air season 7 of formula E

https://www.fiaformulae.com/en/news/2021/february/bbc-live-formula-e-season-7

IMO the only reason for getting a contract with the EA to build a model climate change city in the year that the UK are hosting COP26 in Glasgow is to use that as a centre piece for that event.

If you look at the sorts of models that brightbricks have built in the past, they don’t do small. IMO this is a very significant contract in terms of revenue for the company, you just have to look at how much some of the zoo touring sets cost to build to get a scale.

But it will also be very significant in terms of publicity on the world stage for the bricklive global brand.

https://bright-bricks.com/wordpress/wp-content/uploads/2020/03/Corporate-Brochure-March-2020.pdf

There are a lot of dots appearing and some of then starting to be joined up.

EnvisionVirgin team up with Together our Planet who are promoting climate change activities @COP26 in Glasgow. They also intend doing activities on Electric Vehicles, climate change at FormulaE events around the globe.

https://envisionvirginracing.com/envision-virgin-racing-partners-with-uk-cop26-together-for-our-planet-to-inspire-ev-revolution/ “To aid this transition and help inspire positive climate action around the world, Envision Virgin Racing will be partnering with COP26’s Together for Our Planet campaign on several key initiatives across the year under the race team’s ‘Race Against Climate Change’ sustainability programme. These include a series of digital events in the run up to COP26, a children’s competition to design an environmentally inspired race suit to be worn by the team’s drivers, plus activities at the Formula E race locations around the world“

LVCG secure 5 year rights to host formulaE in South Africa, and have partnered with Messe Frankfurt, a global events organiser, to organise an efest in November around a likely formulaE race there in November. Also announce that they have built a model of a climate change city for the UK Environment Agency (likely to display as the centre piece at COP21). RNS announcing the efest notes that its their strategy to roll the efest out globally.

Some of these new events should be very profitable. Take the cape town cycle tour. Its the biggest event of its kind in the world and madly popular. 40,000 participants at £27 a head entry = £1 m in entry fees alone. Costs are covered by pick and pay, so that should make quite a bit of profit for the group. That was one of the small number of existing events being novated to LVCG and on which the independent valuation was done. If you do any research at all, you will see that they are lining up quite a lot more events.

.@SuperSportTV to show Formula E live in more than 50 countries across Africa ??

Read more here ?? bit.ly/SuperSportFE

https://twitter.com/fiaformulae/status/1362345937520197634?s=21

Demonstrates the popularity of this growing sector. Looks good for the company that has secured the rights for 5 years to a formula E race in South Africa.

So our group of univiested trolls on twitter who are outraged with the Chairman’s 50% salary cut, are all invested in INFA, where the CEO and CFO took a £1.9 million salary between them off of revenues of just £1.48 million and an over £10 million loss.

Can you guess how “outraged” they were with that???

Yip, so outraged that they said NOTHING.

Hypocracy doesn’t extent to the things you are actually invested in apparently. Who would ever have thought that.

So the Chairman got less in consideration for the new businesses than the independent valuation said they were worth, plus he elected to take that in shares at 10p (twice the placing price) and he didn’t take any warrants either. Now he takes a voluntary 50% pay cut and extends his loan agreement.

It’s not quite the “greedy pig” “milking the company” narrative some are trying to spin is it?

“In forming their view, the Independent Directors have taken into account an independent valuation of the contracts and projects and concepts being acquired by the Company which has indicated a value range in excess of ther consideration being paid. They have also taken into account the desirability of adding a further revenue stream to the Company's existing business and the synergies between this and the existing global contacts and cross-sell opportunities which the Group has through David Ciclitira.“

Far be it from me that “outraged” and not invested riddler, who is so apoplectic that he is posting multiple times on the company about the Chairman’s salary is TOTALLY SILENT about Simon Potters £350,000 salary at BPC. Is that because riddler is invested there?

#hypocrite

Guzzler said a few weeks ago “we all want the same thing” but it’s clear that we don’t all want the same thing here at all. There are plenty that want the company to fail, and they keep on coming back again and again, some of them blatantly posting false information.

In the past year the company have replaced its CLN with an interest free loan. They have got rid of Strand Hanson for a more supportive (and cheaper) Nomad, they have replaced their unsupportive broker, ruthlessly cut costs (by nearly £1m) and survived the worst pandemic the world has seen in recent history.

The measure taken today give confidence that they are managing the cashflow well too, and they are working hard to add to the portfolio too in a low risk way that adds profitable contracts.

Added to that the Chairman takes a voluntary 50% pay cut, and while I’m no defender of him, I note that he is probably going to be working harder than ever on the new complementary businesses than he has before.

Yet the company is priced to fail, and if there’s one thing clear from this evenings RNS’ it’s not going to fail, indeed it’s poised to make a stunning recovery.

What unlike you trying to out a negative with your “it’s not really 50%” cut at all? Everyone can see right through that nonsense tadders.

The fact is that he has taken a 50% cut and he hasn’t taken any salary shares in lieu either. It’s a cut, and a very significant cut too.

And as to the equity back in December, as I pointed out to riddler, that’s not a “perk” it’s a consideration for bringing in a complementary business that was independently valued at more than the consideration. If you know anything about RTOs and how those get brought into companies it’s exactly the same. As I said, I spoke to Sarah and that independent valuation was done on existing contracts. It looks like the new businesses are already expanding significantly e.g. the KPOP concerts are a series of concerts and not just one.

I find it funny that some of those that are not invested in the company are still apoplectic with rage about the Chariman’s salary. We have all been complaining about it for a long time tbh, and this evening he took action to cap this at 50% of what he has taken out of the company, plus he has extended his loan with the company which will help on their cashflow management.

I suspect the only thing that they are apoplectic about is that the Chairman has listened and made a dramatic reduction and that they are hacked off that they never saw it coming.

Thanks for stopping by tadders, but it’s a 50% reduction in what he has take out of the company in the last 3 years whether you like it or not.

Not only has he capped his consultancy fees, but he has given up his Chairman’s fees and extended the payment of the loan to the company.

PS - you do know that if you haven’t got any shares in the first place you can’t “top up” anyway?

Extension of his loan to the company beyond April.

Plus he has forgone his Chariman’s fees and also capped the consultancy element of his fees. That’s around a 50% reduction in what he has been taking out of the company in the last 3 years.

Looks like they have secured the world rally cross in South Africa.

https://twitter.com/johnselbyaim/status/1361963403741450242?s=21

Good luck wherever you go newsboy. But as to the “nothing but bad news” that’s just tosh. There has been the announcement of a heads of terms for the e-fest plus there has been the news that the corporate builds at brightbricks is alive and kicking. If you do some reserach you will also see that there are signs of progress so that when lockdown ends lvcg will be able to take advantage. And as to the Directors leaving, all were NEDs so that could signal ruthless cost cutting.

Interesting that this is described as a “series of k-pop concerts” not just one. Plus looks like they have TV sponsorship sorted too.

“Live Company Sports and Entertainment will stage a series of K-Pop concerts at the Deutsche Bank Park, official stadium of the Frankfurt football team. The concert will feature 6 of Korea’s top K-Pop acts in cooperation with South Korean TV channel SBS TV.”