# Live Company Group plc acquisition of Bright Bricks Holdings Limited

- Link: https://www.directorstalkinterviews.com/live-company-group-plc-acquisition-of-bright-bricks-holdings-limited/412759573
- Published: 2018-10-05T13:41:04+01:00
- Author: Charlotte Edwards

**Live Company Group plc** (LON: LVCG) today announced the conditional acquisition
of Bright Bricks Holdings Limited, a leading UK-based builder of bespoke brick statues
and touring events, for a total consideration of £8.5m. To part-finance the Acquisition
and provide additional working capital to the Group, the Company also announces 
a conditional placing of 4,615,381 new ordinary shares of 1p each in the Company(“
Shares”) to raise approximately £3.0m (before expenses) (the “Placing”).

**Highlights:**

· Acquisition of Bright Bricks for total consideration of £8.5m, to be funded by
a combination of £2.167m in cash from the Placing (“Cash Consideration”), 8,461,536
new Shares (“Consideration Shares”) and £0.833m consideration deferred until the
day following the first anniversary of completion (“Deferred Consideration”);

· Bright Bricks is one of the world’s premier brick model building companies;

· Acquisition and Placing enables LVCG to fast-track growth plan in the US and Europe,
and provides the opportunity for further partnership models;

· The Directors believe a combination of the businesses will result in LVCG being
one of the most significant brick-based companies in the world;

· £3.0m (before expenses) raised through Placing of 4,615,381 new Shares (“Placing
Shares”) at a price of 65 pence per share (the “Placing Price”);

· LVCG directors are investing for a total 61,537 Shares in the Placing;

· Net proceeds of Placing to be used towards financing the Acquisition and to provide
working capital for the enlarged Group;

· Strengthening of the Board through appointments of Simon Horgan from Bright Bricks
as Executive Director, Trudy Norris-Grey as a Non-Executive Director and Bryan Lawrie
as Chief Financial Officer. Andy Smith to become Chief Strategic Officer on a part-
time basis;

· Bright Bricks employees, including key personnel, retained within the enlarged
Group.

> **David Ciclitira, Executive Chairman at Live Company Group, said**: “At the beginning
> of this year, I had three specific goals for the Group: the consolidation of the
> BRICKLIVE brand in Asia; the establishment of the BRICKLIVE brand In the United
> States; and the acquisition of Bright Bricks Holdings Limited. This deal reinforces
> my final goal. The Group through BRICKLIVE, has created a global brick-based brand,
> whilst Bright Bricks is one of the world’s premier brick model building companies.
> With the combination of the businesses, the Directors believe LVCG will be one
> of the most significant brick-based companies in the world.”
> **Simon Horgan, Executive Chairman at Bright Bricks, said**: “‘Over the past 2
> years, Live Company Group has become an important customer for Bright Bricks. 
> We have collaborated on many exciting and highly creative projects where Bright
> Bricks has used its skills to create unique event content. The joining of our 
> two companies will allow us to fully service and supply the global Bricklive network
> of events from within our own resources. Bright Bricks has an extensive portfolio
> of touring assets and a highly skilled design and building team that will now 
> be integrated into Live Company Group. We have many new concepts waiting to launch
> and look forward to an exciting future together.”

**Placing Statistics**

  |

Placing Price

  |

65p

  |  
 |

Number of Existing Shares

  |

53,779,218

  |  
 |

Number of Placing Shares

  |

4,615,381

  |  
 |

Number of Consideration Shares

  |

8,461,536

  |  
 |

Number of Fee Shares

  |

238,460

  |  
 |

Gross proceeds of the Placing

  |

£3.0m

  |  
 |

Net proceeds of the Placing (including Cash Consideration)

  |

£2.64m

  |  
 |

Number of Shares in issue immediately following First Admission

Number of Shares in issue immediately following Second Admission

  |

58,633,059

67,094,595

  |  
 |

Percentage of enlarged share capital represented by the Placing Shares, the Fee Shares and the Consideration Shares

  |

19.85%

  |  
 |

Deferred Consideration (payable October 2019)

  |

£0.833m

  |  
 |

 |

 |

The Placing Shares, the Consideration Shares and the Fee Shares are being issued
under the Company’s existing authorities.

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