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The 500k trades look like a Bed & ISA (or Bed & SIPP (I cant recall which is done at the Bid) rather than offloading.
Hang out the bunting! Ranjit finally leaving the BoD! Woop Woop !!
Second Cornerstone agreed Head of Terms. Let the bidding war begin! :-)
I would expect an RNS on the head of terms for the 2nd cornerstone but hasnt everything else already been RNSd? Maybe not the Formula E investor yet but DC said that was due to be signed soon (or something similar)? I would assume it would be then. I do find it frustrating that the Nomad appears to consider every Bricklive contract not of enough significant value to RNS. At these MCap levels, I'd say some of the bigger ones are certainly worth it! Bricklive is making money it seems but we cant see that it is
Just some initial thoughts on today's webinar.
Having only recently been relisted, I have no doubt David and Sarah had to tread carefully in front of AIM and the Nomad, which may have led to it being very matter of fact in style. However, there were a number of positives from my perspective.
The two interested cornerstones (one signed, one about to sign agreements in principal) are investing because they see significant potential growth opportunities.
David also confident because he invested the last part at 6p to keep the placing at a 50% premium to the close before relisting. He invested at 6x the small PI placing, putting his money where his mouth is. Not many AIM CEOs are so heavily invested.
The new cornerstones will bring in new talent and a new BoD. Let’s face it, David is a good deal maker with great connections but what have the rest of the BoD actually contributed? We need a new broom IMO
New partner / investor found by E Movement to get Formula E back at Cape Town. I know someone personally heavily involved in Formula E and they loved the Cape Town event, so I am very sure that will be a much bigger success next time.
Going forward will be based on a no risk model (e.g. Frankfurt KPop is a fee rather than risk / reward). Very little downside to the company now IMO
Frankfurt event also rebranded! The KPop loons are unlikely to see it is still LVCG behind the scenes particularly as it is being put in place by a German partner. Learn from the lessons in the past and KPop can still be very lucrative.
No doubt 2023 was tough going but David is very confident that we will be profitable in 2024
A shareholder representative joining the Company should be good too.
All in all, I honestly believe the worst is behind us and the future could be potentially very exciting. We certainly all need a good break for once!
I think both have their merits. I was pleased to see the Frankfurt show had been rebranded. This is a no risk show but Kpop Flex / Lux would be a hard sell to them now IMO.
Jimmy / Bennster - I agree this could have been handled better but the price was insisted on by the broker. Anyone could have approached them for the placing as it was announced in previous RNSs. It is a blessing that so little money was raised at this level IMO. Most was agreed at a premium. Given the lack of comm's and length of suspension, I am not totally surprised by the bloodbath today but when the dust settles, people should begin to see that.
You rightly mention the dire cashflow issue but that has now been shored up.
Terms agreed with the new cornerstone investor, to bring in significant new revenue streams is the key here.
This is not an attempt to ramp but merely a view from someone who has been communicating with David for a period of time, so have a better understanding that some on what has happened and the future.
There has been no doubt that several parties let David and LVCG down last year and lack of cashflow has been a crucial factor in the issues that were faced. However, with the funding announced today, these have been remediated and future expansion possibilities are far more realistic.
When digesting the long RNS consider the following
Less that 20% of the total funds coming into the Company was raised at a discount to the closing share price. 80% is at 50%+ PREMIUM
Why would David issue a convertible loan at a PREMIUM of 50% of the suspended price and THREE times the small placing price?
Why would provide further working capital of £250k at a PREMIEM of 300% and SIX times the small placing price?
Why would the BoD and Creditors accept settlement at a PREMIUM of 50% of the suspended price and THREE times the small placing price?
Take note of these paragraphs
“As announced previously, negotiations with two separate strategic investors with one mutually agreed term sheet. Any investments from these new strategic partners will be for further business development and further details to be announced if and when these progress”.
“Any investments from these new strategic partners will be for further business development”.
Of course not fully over the line but ask yourselves why that might be? Perhaps we needed to be relisted first????
It has been a horrendous in recent times for investors (particularly the last 7 months) but so much has happened behind the scenes to not only keep LVCG alive (which many of the doom merchants never thought would happen) but give the opportunity to rise from the ashes.
GLA
Of course that is true at the moment but it wont be forever
I think this is an error rather than anything sinister. Watch this space very soon!
A hell of a lot has been going on behind the scenes. I know nothing I can say will appease some but all I would suggest is people dont do anything to hasty until a fuller picture emerges. You choice of course
As I said at the start of this thread, I completely get the distrust.
I, for one, am not here to try and drum up support for DC, I am here trying to help ALL OF US who have suffered hugely in this investment. I wish I had never been involved in LVCG, as I am hugely underwater but I, with a few others, have desperately tried to help.
I also agree far more transparency would have been beneficial but, today, it is what it is. I am hopeful, however, that all will become much clearer in the very near future and that we can look forward to a brighter future.
Maybe one day, rather than sniping (albeit with good reason at times) some of our effort might be appreciated.
Bennster / Jimmy, I've tried to give a balanced view and 100% agree with you that no news hasnt helped (and wont help) sentiment when it relists. I have been hugely frustrated over the way the company has been run and the ineffective BoD. I do, however, believe things will change and I hope DC will explain more when we relist. All I am trying to convey is that (unlike many other AIM companies) we have a CEO/Chairman with huge skin in the game and is committed to turning this around. I believe it will happen. Others may not.
Hi Euston. I totally understand your frustration around lack of communications. DC is very stubborn at times and didn't feel the need to provide updates whilst suspended. I didn't agree with his approach for the very reason you mention. However, behind the scenes he has worked tirelessly to overcome a number of significant challenges, having been let down by several parties. He also suffered a significant health issue last year, which could easily meant the end of LVCG. There are many things he has done to which I would take issue but his commitment to firstly keeping LVCG alive and then putting in the foundations for it to grow again shouldn't be underestimated.
Over the coming weeks (within a couple of months) I expect LVCG to be a very different entity, with a very different corporate structure. As I say, I', sure some will sell up ASAP but I honestly think this is the bottom, the model has changed, finance been secured and a new direction on its way. GLA
Before I write this post, there are a couple of things I want to mention. With it being mother's day, I wont be returning to reply / defend / give additional info. I am also inside, so wont be divulging sensitive information. All will become clearer in the coming days
Whilst I completely understand the frustration over lack of communications since the suspension and the time it has taken to get to a position to relist, some of the comments about DC wanting to to take this private are quite frankly ludicrous. If he wanted to do so, it would have happened months ago. Ask yourselves, what benefit would it be to him to do so?
I agree with many that he has made numerous bad calls on potential investors, partners and trusted advisors but his commitment and financial support to get this out of the mire should not be underestimated. The latest RNSs have shown he is adding finance to the company to sure up it's cashflow position (which has been the underlying issue since Covid, causing the failure of potentially good profit making ventures ).
He is adding cash AT A PREMIUM to the suspended price.
Creditors and the BoD are also taking shares AT A PREMIUM to the suspended price.
Yes there is unfortunately a small placing at 1p but the VAST MAJORITY of debt (which is far, far larger than the raise) is being made AT A PREMIUM to the suspended price.
Ask yourselves, why the Creditors, BoD and DC himself, agree to a PREMIUM, if they weren't confident of the future?
The model has changed.
A new cornerstone investor, with new revenue streams, has been signed (with potential others being negotiated)
Bricklive has bounced back ( none RNSd but just look at the calendar on their website below. There are some big contracts there!)
https://media.umbraco.io/live-company-group/0znlgre4/bl-event-calendar-2024.pdf
It has been incredibly painful for everyone for years, especially since mid 2023 with the suspension, and I suspect there will be a reasonable number of people bailing out as soon as possible but with a new broom, new blood and a secured balance sheet, I firmly believe our patience will begin to be rewarded.
I am not optimistic at all right now but Sarah has said the same thing. He is bombarding her 100+ emails every day at the moment. He's not helping at all. If it goes under, then free reign but until then leave them all alone
I have just had DC on the phone and he has one hour to save everything but is being constantly bombarded by your calls! LEAVE HIM ALONE TODAY FFS or we are done for !!!!
You were an idiot for taking up valuable time required to try and save the day, so no, I am not going to apologise.
Of course I am not happy about the situation. I almost certainly will lose far, far more than you but I will wait to see what pans out and then reassess options. Last night was not the time to harass DC or Sarah. I stand by that 100%
I'm not defending him and if it goes belly up then I will think long and hard about next actions but at the moment there is hope. You ARENT HELPING! Get that into your think skull for once or we are definitely dead
I have just got off the phone to DC (he called me). He has begged Ali and Tintin to stop calling him and the NOMAD as it is not helping the cause.
We have until 2pm tomorrow to get this over the line.
FFS leave him alone until then at least!
Talk about trying to kill your own investment you clowns !!!
TinTin. I am on the phone to David right now. Leave them alone FFS !!
You and "Ali" are bombarding him with emails and calls and stopping him from trying to get this over the line.
He was literally pleading with me to help stop you from doing this.
The deadline is 2pm tomorrow and they are still trying to save it!
I REPEAT Leave them alone you idiot ! You are killing any hope we have
I haven't posted for a while as I haven't had much info to share and to be honest, I needed a break for my mental well being.
However, it seems David and Sarah are being bombarded with calls and emails all the time, most of which are abusive.
I completely understand peoples concerns / anger ( I have them both too) but seriously, does anyone really think that it's helpful? Like it or not, we are in the hands of the "DC god now"! If he gets to the stage that the hassle isn't worth it and chucks in the towel. these people haven't helped.
Please just lay off him, it's not helping any of us.