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Live Company Group Plc

Live Company Group Plc Placing, Subscription to raise £2.2 million and Expansion of Bricklive Zoo

Live Company Group Plc (LOn: LVCG) today announced an equity fundraise with certain existing investors including David Ciclitira, the Company’s Executive Chairman, of, in aggregate, approximately £2.2 million gross (approximately £2.1 million net).

The Fundraise comprises a conditional placing of 2,084,616 new ordinary shares of 1p each in the capital of the Company to raise approximately £1.36 million (the “Placing”) and a conditional subscription of 1,299,996 new Ordinary Shares to raise approximately £0.84 million, both at a price of 65 pence per share (the “Issue Price”).

The Company will also issue participants in the Fundraise 1.25 warrants for every Placing Share and Subscription Share issued (the “Investor Warrants”). Each Investor Warrant will provide the holder the right to one new Ordinary Share on its exercise. The Investor Warrants will be exercisable at a price of 80 pence for a two year period from the admission of the Placing Shares.

It is expected that the Placing Shares will be admitted to trading on AIM on 25 February 2019, with the Subscription Shares expected to be admitted on 31 May 2019.

Given the significant interest being shown in the Group’s BRICKLIVE Zoo programme, with seven BRICKLIVE Zoo shows already scheduled for 2019, and with the directors of the Company  currently expecting to add an additional seven BRICKLIVE Zoo shows during the year across Europe and the United States, the net proceeds from the Fundraise will be used to, inter alia, finance the expansion of the BRICKLIVE Zoo programme to meet this demand.

Highlights

· Approximately £2.2 million gross (approximately £2.1 million net) raised via the Placing and Subscription at 65 pence per share

  • 1.25 Investor Warrants to be issued for every one new Ordinary Share issued pursuant to the Fundraise

· Net proceeds of the Fundraise will be used to

  • Finance the further expansion of the BRICKLIVE Zoo programme, with seven shows already agreed and seven additional shows projected for 2019
  • Provide additional working capital to the Group

· The Group has also announced earlier today that it has entered into an agreement with one of Germany’s leading exhibition promoters, AWC AG (“AWC”), for the staging of BRICKLIVE shows in Germany

· Revenues for 2018 are broadly in line with expectations and a positive start to 2019 has been made, with a strong order book and pipeline of opportunities across the Group

David Ciclitira, Executive Chairman of Live Company Group, said: “I am very excited that the Group is investing in the BRICKLIVE Zoo programme. With the success of our Zoo touring assets at Marwell Zoo and Twycross Zoo in the UK, we have seen significant levels of interest from other zoos across the UK, Europe and the United States. This funding will therefore allow the Group to take advantage of these exciting opportunities and I’m personally delighted to be investing in the Company at this time.”

Fundraise Statistics

Issue Price

65p

Number of existing Ordinary Shares

67,094,595

Number of Placing Shares

2,084,616

Number of Subscription Shares

1,299,996

Number of Commission Shares

46,153

Number of Investor Warrants

4,230,765

Number of Adviser Warrants

50,000

Number of Fee Shares

69,230

Gross proceeds of the Placing

Approximately £1.36 million

Gross proceeds of the Subscription

Approximately £0.84 million

Gross proceeds of the Fundraise

Approximately £2.2 million

Net proceeds of the Fundraise

Approximately £2.1 million

Number of Ordinary Shares in issue immediately following the First Admission

69,248,441

Number of Ordinary Shares in issue immediately following the Second Admission

70,594,590

Percentage of enlarged share capital, following the second Admission, represented by the Placing Shares, the Subscription Shares, the Commission Shares and the Fee Shares

4.96%

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