Live Company Group (LVCG) has revealed that Bricklive International Limited (BLI), a subsidiary of the newly acquired Bricklive Group, has entered into a six-year contract with Universal Entretenimento e Produções LTDA (UEP) for BRICKLIVE events in Brazil.
The contract details a guaranteed 30 events every 15 months, increasing the number of contracted BRICKLIVE events in 2018 to around 60 – twice the number of shows previously contracted for the year.
BRICKLIVE events showcase the benefits of LEGO as an educational tool worldwide. Under the agreement, UEP will organise, promote and stage each BRICKLIVE event, while BLI will source and provide the content. BLI will receive license fees with the potential for further revenues through merchandising and additional content income.
To support the continued expansion of BRICKLIVE's increased network in South America and Asia, LVCG today also announces that it has raised £1.6m (gross) through an oversubscribed private placing by Shard Capital Partners LLP of 4,571,425 new ordinary shares of 1p each in the company at a price of 35p per new share.
The new shares rank pari passu with the company’s existing issued shares and are being issued under the company’s existing share authorities.
The placing price represents a discount of 18 per cent. to the closing price on 5 January 2018 and a premium of 17 per cent. to the price of the company’s placing completed in December 2017. Dealings on AIM are expected to commence on 15 January 2018.
LVCG has also appointed Shard Capital Partners LLP as its joint broker alongside existing broker and nominated adviser Stockdale Securities Limited.
LVCG's executive chairman David Ciclitira said: “To start 2018 with such a significant increase in contracted events speaks volumes for the success of the BRICKLIVE brand. Having had such a successful start to the year, I look forward to continued growth in 2018, especially in our expanded emerging markets. We are delighted to welcome our new institutional and other investors to the register, including Miton Group plc.”
