Last checked at 24 Sep 2020 07:00
24 September 2020
LIVE COMPANY GROUP PLC
("LVCG", the "Company" or the "Group")
Allocation/Issue of Director Fee's Shares and Salary Shares/Removal of Concert Party
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, contractors and those who have been furloughed, via the issue of new shares in the Company, it will, as a result, issue 545,645 new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") at an issue price of 10 pence per share, to certain of the applicable contractors.
Director Fee Shares
The Company will also issue 850,432 new Ordinary Shares at a price of 10 pence per share ('Fee Shares") to Trudy Norris-Grey in settlement of outstanding director's fees and expenses under existing contractual arrangements. Mrs Norris-Grey elected to receive her fees in shares to demonstrate her belief in the Company and its future and to conserve working capital.
Update regarding Concert Party
The Company also provides an update on certain shareholders of the Company who have previously been presumed to be acting in concert under The Takeover Code (the "Concert Party") following the completion of the acquisition of Bricklive International Limited by the Company via a reverse takeover and the admission of the enlarged Group to trading on AIM. Full details of the Concert Party were set out in the Company's admission document dated 29 November 2017.
The Company announces that it has agreed with The Takeover Panel that Clive Morton is no longer to be considered to be a member of the Concert Party. The remaining concert party members consist of David Ciclitira and Serenella Ciclitira who, taking into account the issue described above, will have interests in 29,586,436 Ordinary Shares of the Company 33.12% of the Company's issued share capital and voting rights.
Application and total voting rights
Application will be made for the 545,645 new Salary Shares, the 850,432 new Fee Shares which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). Dealings in the 1,396,077 new Ordinary Shares is expected to commence on or around 2 October 2020.
On Admission, the Company will have 89,328,544 Ordinary Shares in issue with voting rights. No Ordinary Shares are held in treasury. The figure of 89,328,544 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.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Sarah Dees | ||||
2. | Reason for the Notification | |||||
a) | Position/status | COO | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Live Company Group plc | ||||
b) | LEI | 213800AQWQYC4FH91312 | ||||
4. | Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Ordinary shares of 1 penny each in the share capital of the Live Company Group plc | ||||
Identification code | ISIN: GB00BGSGT481 | |||||
b) | Nature of the Transaction | Issue of Ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A - single issuance | ||||
e) | Date of the transaction | 24 September 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Trudy Norris-Grey | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Deputy Chairperson | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Live Company Group plc | ||||
b) | LEI | 213800AQWQYC4FH91312 | ||||
4. | Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Ordinary shares of 1 penny each in the share capital of the Live Company Group plc | ||||
Identification code | ISIN: GB00BGSGT481 | |||||
b) | Nature of the Transaction | Issue of Ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A - single issuance | ||||
e) | Date of the transaction | 24 September 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||