Bricklive signs Brazil deal and raises £1.6m
January 8, 2018 9:50 AM
Live Company Group (LVCG) has announced that Bricklive International Limited (BLI), a subsidiary of the newly acquired BRICKLIVE Group Limited, has entered into a six-year contract with Universal Entretenimento e Produes LTDA (UEP) for Bricklive events in Brazil.
The contract provides for a guaranteed 30 events every 15 months, increasing the number of contracted BRICKLIVE events in 2018 to approximately 60 twice the number of shows previously contracted for the year.
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.
Bricklive events are deemed leading network of partner-driven shows which are designed to 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.
LVCG has also announced that it has raised 1.6 million (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 move would allow supporting the continued expansion of Bricklive’s increased network in South America and Asia.
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.