Last checked at 25 Mar 2024 07:00
The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa.
25 March 2024
Literacy Capital plc ("Literacy Capital" or the "Fund")
Literacy Capital announces new investment in Live Business Group
New investment
Literacy Capital is pleased to announce an investment into Live Business Group ("Live"), a prominent provider of turnkey entertainment solutions for global travel operators, specifically in holiday resorts or on cruise ships.
Literacy Capital has acquired a significant minority stake to support the founders' plans for growing Live under their leadership. Further financial terms have remained undisclosed.
Literacy Capital completes investment into Live Business Group
Literacy Capital plc has completed an investment into Live Business Group, a leading international entertainment supplier to the travel, tourism and leisure industry, which gives Literacy Capital a significant minority stake.
Founded in 2015 by Mark Dixon and Dan Lock and based in West London, Live has built a reputation for creating award-winning bespoke content, bringing together creative, production and digital capabilities to create complete entertainment solutions. Capabilities cover everything from concept design, digital media content, to West-End style production shows and live entertainment activities.
Through partnering with Live, clients are assured that regardless of resort, location or season, consumers will consistently experience enjoyable and age-appropriate entertainment offerings. The company's commitment to technological and content innovation, and continuous service improvement has driven its reputation as a "best-in-class" entertainment partner. High quality entertainment is often a key differentiator that helps resorts and cruise lines set themselves apart, as it has a direct impact on end-customer satisfaction and their experience.
The investment from Literacy Capital will support Live Business Group's ambitious growth plans, with a continued focus on the quality of their service offering. Both Mark and Dan will continue in their current roles at the forefront of the business' activities and growth, ensuring that Live continues to deliver high-quality entertainment to its clients.
The transaction is Literacy's 23rd platform investment since the inception of the fund in 2017 with Live joining the Fund's diverse and growing portfolio of companies.
Enquiries
For further information, please contact:
Literacy Capital plc / Book Asset Management LLP: Richard Pindar / Tom Vernon
|
+44 (0) 20 3960 0280 |
MHP Group: Reg Hoare / Ollie Hoare / Matthew Taylor
|
+44 (0) 20 3128 8100 book@mhpgroup.com |
Singer Capital Markets Securities Limited: Robert Peel
|
+44 (0) 20 7496 3000 |
About Literacy Capital:
Literacy Capital (BOOK.L) is an investment trust that was co-founded by Paul Pindar and Richard Pindar in 2017 with £54 million of capital. Literacy subsequently listed on the London Stock Exchange in June 2021. The Fund focuses on opportunities to invest for the long-term in growing private businesses where a clear route to creating additional value can be seen with its support. The fund structure is evergreen, allowing it to be more flexible and to accommodate the wishes or needs of founders.
The Fund also has a unique charitable objective, to donate 0.9% of NAV annually to charities focused on improving literacy in UK children. Over £8.5 million has been donated or reserved for donation to charities since the trust's creation in 2017 up until 31 December 2023. For more information, please visit our website: www.literacycapital.com.
Website:
www.literacycapital.com
LEI: 2549006P3DFN5HLFGR54
A copy of this announcement will be available on the Company's website at www.literacycapital.com.