Live Company Group To Raise GBP2.2 Million Via Share Issue (ALLISS)

LONDON (Alliance News) - Live Company Group PLC on Monday said it plans to raise GBP2.2 million ...

Alliance News 11 February, 2019 | 11:42AM
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LONDON (Alliance News) - Live Company Group PLC on Monday said it plans to raise GBP2.2 million via placing and subscription of shares to expand its Bricklive Zoo programme.

The company will place 2.1 million shares at 65 pence each to raise GBP1.4 million and 1.3 million shares for subscription to raise GBP840,000 at the same price.

Live Company Group shares were trading down 2.5% at 60.44p each.

Live Company will also issue 1.25 warrants for every placing share and subscription share issued. The warrants will be exercisable at a price of 80p each for a two-year period from the admission of the shares.

The firm expects the placing shares to start trading on AIM on February 25 with the subscription ones expected to be admitted on May 31.

The company said it will use the placing proceeds to finance the expansion of its Bricklive Zoo programme after having experience significant demand for the shows.

Seven Bricklive Zoo shows are already scheduled for 2019, and the company currently expects to add an additional seven shows during the year across Europe and the US.

Furthermore, in a separate announcement, the company said that it entered into an agreement with one of Germany's leading exhibition promoters, AWC AG, for the staging of Bricklive shows in Germany.

Under the deal, within the next 12 months, AWC will arrange three shows across Germany.

By Elena Cherubini;

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Live Co Group PLC 12.00 GBX 9.09 -

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