Last checked at 21 Jul 2020 07:00
21 July 2020
LIVE COMPANY GROUP PLC
("LVCG", the "Company" or the "Group")
Issue of Salary and Contractor Shares
Live Company Group Plc (AIM: LVCG) announces that further to its announcements on 30 April 2020 and 5 May 2020 , regarding the cost saving initiatives implemented by the Company as a result of COVID-19 and the Company's intention to make up for the decrease in pay for all staff, including Directors and those who have been furloughed, via the issue of new shares in the Company, it will, as a result, issue 141,412 new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") ("Salary Shares") at an issue price of 10 pence per share, to certain of the applicable staff.
Contractor Shares
In order to continue to conserve working capital the Company will also issue 693,770 new Ordinary Shares at a price of 10 pence per share ('Contractor Shares") to certain contractors in settlement of work completed.
Application and total voting rights
Application will be made for the 141,412 new Salary Shares, the 693,770 new Contractor Shares which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). Dealings in new Ordinary Shares is expected to commence on or around 27 July 2020.
On Admission, the Company will have 87,932,467 Ordinary Shares in issue with voting rights. No Ordinary Shares are held in treasury. The figure of 87,932,467 may be used by the Company's shareholders as the denominator in the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Enquiries:
Live Company Group Plc Tel: 020 7225 2000
Sarah Ullman, Chief Operating Officer
Beaumont Cornish Limited (Nominated Adviser) Tel: 020 7628 3396
Roland Cornish/Rosalind Hill Abrahams
Shard Capital Partners LLP (Broker) Tel: 020 7186 9952
Damon Heath
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.
LIVE COMPANY GROUP
Live Company Group plc ("LVCG", the "Company" or the "Group") is a live events and entertainment Company, founded by David Ciclitira in December 2017. The Company was admitted to trading on AIM in December 2017, following the reverse acquisition of Brick Live Group and Parallel Live Group by LVCG.
The Group is a network of partner-driven fan-based shows using BRICKLIVE created content worldwide. The Company owns the rights to BRICKLIVE - an interactive experience built around the creative ethos of the world's most popular construction toy bricks. BRICKLIVE, which is fast becoming a leading children's education and entertainment brand, actively encourages all to learn, build and play, and provides inspirational events and shows where like-minded fans can push the boundaries of their creativity. Bright Bricks is the Group's production centre for building brick based models. The Group is an independent producer of BRICKLIVE and is not associated with the LEGO Group.
Website: www.livecompanygroup.com.