Live Company Group PLC Chairman's Loan (4816P)
17 Febbraio 2021 - 5:27PM
UK Regulatory
TIDMLVCG
RNS Number : 4816P
Live Company Group PLC
17 February 2021
17 February 2021
LIVE COMPANY GROUP PLC
("LVCG", the "Company" or the "Group")
CHAIRMAN'S LOAN
Live Company Group plc (AIM: LVCG, "the Company") announces an
update on the secured loan that Chairman David Ciclitira provided
to the Company.
Further to the announcement on 15 April 2020 where Mr Ciclitira
provided a secured term loan of GBP500,000 (the "Loan") to Brick
Live International Limited ("Brick Live" a wholly owned subsidiary
of the Company) and the announcement on 26 June 2020 where the
Company announced a partial conversion of the Loan into ordinary
shares of LVCG, the Company announces an extension of the loan
period such that rather than the balance (currently GBP200,823)
being repayable in full in April 2021 it will now be paid in 9
instalments commencing in June 2021. All other terms of the loan
will remain the same.
Related Party Transaction
As Mr Ciclitira is a Director of the Company and a substantial
shareholder (together with his wife, holding 31.52% of the current
issued share capital) , as defined under the AIM Rules for
Companies (the "AIM Rules"), he is a related party of the Company
as defined under the AIM Rules.
As a result, the extension of Mr Ciclitira's loan is classified
as a related party transaction pursuant to Rule 13 of the AIM Rules
and the Directors of the Company, other than Mr Ciclitira and his
wife, Mrs Serenella Ciclitira , consider, having consulted with the
Company's nominated adviser, Beaumont Cornish Limited, that the
extension of the loan on the terms set out above is fair and
reasonable insofar as the Company's shareholders are concerned.
Additionally, the Company announces that in light of the
continuing global pandemic Mr Ciclitira has elected to cap his
international consultancy fees at GBP250,000 per annum and forgo
his GBP25,000 Chairman's Fee for 2021 (i.e his total remuneration
in relation to his services to the Group will be GBP250,000).
Enquiries:
Live Company Group Plc Tel: 020 7225 2000
David Ciclitira, Executive Chairman
Sarah Dees, Chief Operating Officer
Beaumont Cornish Limited (Nominated Adviser) Tel: 020 7628 3396
Roland Cornish/Rosalind Hill Abrahams
===================
Monecor (London) Limited (Broker) Tel: 020 7392 1436
Elliot Hance
===================
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. The Company also manages a
number of sports, entertainment and lifestyle events via its
recently created LCSE (Live Company Sports and Entertainment)
division.
Website: www.livecompanygroup.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCSFIFMWEFSEEE
(END) Dow Jones Newswires
February 17, 2021 11:27 ET (16:27 GMT)
Grafico Azioni Live (LSE:LVCG)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Live (LSE:LVCG)
Storico
Da Apr 2023 a Apr 2024
