Last checked at 30 Nov 2018 07:00
30 November 2018
LIVE COMPANY GROUP PLC
("LVCG", the "Company" or the "Group")
Mythical Beasts Lease Agreement in South Korea
The Company is pleased to announce that, on 29 November 2018, the Company's wholly-owned touring subsidiary, Bricklive Touring Limited ("BL Touring"), entered into an agreement with AWC Asia, a company incorporated in South Korea, for the lease of the Group's Mythical Beasts touring assets until December 2021. In consideration for the lease, AWC Asia will pay to BL Touring a Content and License Fee of US$1.3 million in cash, payable up front.
Mythical Beasts, which comprises a LEGO® model tour featuring over 50 models, has been created and built by Bright Bricks, the model building company recently acquired by the Company. The Mythical Beasts Asian tour, which will be staged and promoted by AWC Asia, will launch in South Korea at the end of January 2019.
David Ciclitira, Executive Chairman of Live Company Group, said: "This agreement demonstrates one of the strengths of the recent Bright Bricks acquisition by the Company. The Bright Bricks assets are a complementary fit to our existing network, and this is the first example of the opportunities afforded by the acquisition. We are excited to be launching Mythical Beasts with AWC Asia and to work closely with them to launch the tour in South Korea."
Jay Park President of AWC Asia, said: "We are very excited to welcome Mythical Beasts to South Korea next year. This is a great tour and we have no doubt it will generate significant visitor interest."
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Enquiries:
Live Company Group Plc
David Ciclitira Tel: 020 7225 2000
Stockdale Securities Limited
Richard Johnson / Edward Thomas Tel: 020 7601 6100
Shard Capital Partners LLP
Damon Heath Tel: 0207 186 9950
W Communications, PR agency
James Porter Tel: 07568 514 244
About the Company:
Brick Live Group
Brick Live is a network of partner-driven fan-based shows using BRICKLIVE-created content worldwide. It owns the rights to BRICKLIVE - interactive experiences built around the creative ethos of the world's most popular construction toy - LEGO®. BRICKLIVE actively encourages all to learn, build and play, and provides an inspirational central space where like-minded fans can push the boundaries of their creativity. Brick Live Group is not associated with the LEGO Group and is an independent producer of BRICKLIVE.
Parallel Live Group
Parallel Live was founded by David Ciclitira in 2015 and owns the rights to promote BRICKLIVE in the USA. It is responsible for running and promoting those events through its US joint venture, Parallel Three Six Zero. The first event will be taking place at The Star in Frisco in January 2019.
Bright Bricks
Bright Bricks Ltd was established in 2010 and has built over 1,000 models made from more than 60 million LEGO bricks since then. Clients include major blue chip companies such as: Rolls-Royce, Google, BT, Land Rover, Warner Brothers, LEGO, General Electric, The National Gallery, Maersk and Lufthansa.
Website: www.livecompanygroup.com
www.brightbricks.com
www.brickliveusa.com
The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.