LATEST NEWS FROM THE LIVE GROUP

LVCG Announces Bright Bricks Acquisition

(L-R) Simon Horgan, Ed Diment, David Ciclitira


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

Highlights:

• Acquisition of Bright Bricks, 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;
• 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.”


"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.”

- Simon Horgan, Executive Chairman at Bright Bricks


• 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 ”);
• £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;


‘We have been working with BRICKLIVE as clients for a number of years now and so the joining of these two businesses’ to us was the ideal next step. It is not only the formation of this partnership that is interesting for us, it is the potential for BRICKLIVE that we are most excited about. Having already achieved great things, we are looking forward to the coming months; to new developments and new projects’

- Ed Diment, Co-director Bright Bricks Ltd.

This announcement is available for download on our RNS page.

LVCG Publishes Half-Yearly results

LVCG has announced its half-yearly results for the six month period ended 30 June 2018.

The highlights for the period are:

  • Group revenues from continuing operations for six months to 30 June 2018 of £2.842m. This compares favourably to full year revenues to 31 December 2017 of £1.928m.   

  • Group revenues from continuing operations for six months to 30 June 2018 of £2.842m. This compares favourably to full year revenues to 31 December 2017 of £1.928m.   

  • An operating profit from continuing activities in the period of £503k (FY 2017: operating loss of £391k, before exceptional items).

  • The decision to launch the BRICKLIVE brand across the USA and to discontinue the LEGO LIVE brand.

  • Post-period events:

    The launch by the Group’s joint venture partner in China of BRICKLIVE ANIMAL PARADISE in August 2018 in the National Stadium, Beijing, the first event of a 20 city tour in China over the next three years.

  • Joint venture signed, in September 2018, in the US with Three Six Zero, to create Parallel Three Six Zero Inc. (“PTSZ”), and exclusivity terms agreed by PTSZ with Live Nation Entertainment, Inc. for the promotion of BRICKLIVE events throughout North America.

Further details on the post-period events can be found below. 

David Ciclitira, Chairman, said: “The first six months of this year have been an amazing journey. Having only created Live Company Group at the end of last year, we have achieved a great deal. 2018 was always going to be a year of investment, and I am pleased that we have recorded a profit, whilst managing to expand internationally. I believe that this is a good base for our full-year results and we look forward to the growth in the second half of this year. The recent announcements relating to both China and BRICKLIVE’s launch of the joint venture in America are an indication of the exciting times we have ahead, both for the rest of 2018 and into 2019.

Copies of the half-yearly results can be downloaded from here.

BL Education agreement with Immersive Minds for BRICKLIVE Digital Content

LVCG is pleased to announce that, its wholly-owned subsidiary, Bricklive Education Limited (“BL Education”), has entered into an agreement with pioneers in digital education, ImmersiveMinds Limited (“ImmersiveMinds”).

BL Education will work closely with Immersive Minds, and in particular with founder and director Stephen Reid, who has worked in digital education for the last 18 years, 12 of which he has specialised in Games-Based Learning. He has represented organisations such as Microsoft and BBC, and events such as BETT, ISTE, Minecon Insomnia, Minefaire and Minevention. Stephen will be a director of BL Education, alongside David Ciclitira and Andrew Smith, and will receive a 20% shareholding in BL Education in return for his services.

This exciting collaboration will enable BL Education to develop and enhance educational content for BRICKLIVE shows globally, starting at the recently announced BRICKLIVE Dallas event taking place at the end of January 2019, where ImmersiveMinds have been confirmed to run the ‘Coding Corner’.

Andrew Smith: Managing Director of Live Company Group Plc, said: ‘Education has been at the forefront of our agenda for the Company since its inception and so this partnership cements this goal. Combining education with the digital age will also further increase the demographic of BRICKLIVE, especially as we move into new markets in America and globally. With their experience in teaching digital education, using platforms such as Minecraft and LEGO, and working with reputable companies such as Microsoft, ImmersiveMinds is the ideal partner. Future plans include creating education programmes and lesson plans that we integrate in BRICKLIVE shows.’

Stephen Reid, Director and Founder of ImmersiveMinds, said: ‘ImmersiveMinds are excited to be taking the first steps in bringing our digital creativity and education content to BRICKLIVE through a new partnership. The team at ImmersiveMinds are looking forward to creating content and experiences for BRICKLIVE. Our partnership will offer parents and children a wealth of unique new experiences as part of their visit to BRICKLIVE.’

Here’s Stephen speaking to us in New York back in February. 

This announcement is available for download on our RNS page.

BRICKLIVE 2 year review

Under the ownership of the Live Company Group the BRICKLIVE brand has come a long way in two years. Our latest review is below.

Parallel Live Announces Joint Venture Agreement with Three Six Zero for BRICKLIVE in USA and Canada

David Ciclitira and Paul Macrae at The Star

LVCG is pleased to announce that its wholly-owned subsidiary Parallel Live Group Limited (“PL”) has signed a joint venture with US-based company Three Six Zero, forming the new company Parallel Three Six Zero Inc. (“PTSZ”). PTSZ has been granted exclusive rights by PL to promote BRICKLIVE events in North America and Canada with Brick Live International Limited as its content provider.

Three Six Zero is an international management, intellectual property, and technology company based in Los Angeles. Working with prominent entertainment figures, tech companies and lifestyle brands, the company is dedicated to fostering innovation and creativity across each new business venture.

PTSZ has agreed terms for an exclusive agreement with Live Nation Entertainment, Inc. for the promotion of BRICKLIVE events throughout North America and Canada. BRICKLIVE is a LEGO based events including features such as BRICKLIVE Animal Paradise which recently launched in Beijing. These rights are initially for one show, and if successful, would allow for a minimum of a further two shows to be staged.
The location of the first show will be at The Star in Frisco, Texas, on 26th and 27th January 2019.

The location for BRICKLIVE Dallas

David Ciclitira: Executive Chairman at Live Company Group, said: “We consider Three Six Zero to be one of the USA’s most innovative content companies. I believe our new Joint Venture, PTSZ, will make the BRICKLIVE shows one of the leading Kids brands in the USA. Three Six Zero also have a longstanding relationship with Live Nation who we are delighted to be working with. The fact that Live Nation has chosen The Star in Frisco as the initial venue is very exciting.”

Paul Macrae: Chief Operating Officer at Three Six Zero, said: "Three Six Zero values innovation and recognises the importance of strong family ties. Nothing epitomises both as much as the ‘Lego’ brand. Working with the Live Company Group and Live Nation, we are excited to deliver the BRICKLIVE show to Lego fans across North America. This show brings fun, creativity and learning to the next generation of entrepreneurs and innovators. We're pleased to be able to help young audiences discover their own ingenuity and find their future paths."

Drew Cantor at Live Nation Entertainment, said: “We are excited to be teaming up with Parallel Live and Three Six Zero to bring one of the most innovative family events to America. BRICKLIVE is not only a modern and educational event for kids, but also a fantastic pastime experience for adults. BRICKLIVE is seeing success all around the globe and we anticipate it being a huge success in America.”

This announcement is available for download on our RNS page.

LVCG Announces Partnership with The Prince Albert II of Monaco Foundation (the “Foundation”) for 20 City Tour of China with BRICKLIVE ANIMAL PARADISE


His Excellency Mr. Bernard Fautrier, Vice-President and Chief Executive Officer of the Foundation and David Ciclitira, Chairman of the Company, are pleased to announce that the Foundation, LVCG, and LVCG’s joint venture partner in China, BrickLive Centre Education Technology (Beijing) Co., Limited (“BLCET”) have entered into a partnership agreement. Through the newly created exhibition, BRICKLIVE ANIMAL PARADISE, details of which were announced by LVCG on 19 July 2018, which will visit 20 cities around China over the next 3 years, the Foundation, LVCG and BLCET will be working together to educate children in China about the need to protect and preserve the environment, endangered species and biodiversity.

Today H.S.H Prince Albert II of Monaco attended the opening of BRICKLIVE ANIMAL PARADISE at the Beijing National Stadium, commonly known as The Bird’s Nest.

Visitors to BRICKLIVE ANIMAL PARADISE will experience life-sized statues depicting the world’s most loved and endangered animals, all located in their natural habitats, across four distinct zones. A one hundred page book will be available to support the exhibition and to educate visitors on each animal, explaining their habitat and what we can do to aid their survival. Also translated into Mandarin, the book will be the centre piece of an educational programme and will be the next level in interactive brick-filled fun.

David Ciclitira: Executive Chairman of Live Company Group Plc, said: “We at LVCG are delighted to be able to support the Foundation both financially and more importantly through the BRICKLIVE ANIMAL PARADISE exhibition and its associated education initiatives. We hope to reach over a million visitors in China whom I am sure will be gaining their first understanding of the real danger these animals are in and the many ways in which we can make a difference through their lifetimes. At this point I would like to point out that none of this would have been possible without the support of the Foundation and our local partner, SEEC Media.”

H.E. Bernard Fautrier: Vice President and Chief Executive Officer of the Foundation said: “The Prince Albert II of Monaco Foundation is delighted to cooperate with LVCG and BLCET and the BRICKLIVE ANIMAL PARADISE exhibition to raise public awareness in China about the threatened disappearance of a large number of species.”

Yuet Sarah Chong: Chief Executive Officer of Bricklive Centre Education Technology (Beijing) Co., said: “Bricklive Centre Education Technology (Beijing) Co., is thrilled to cooperate with the Foundation in striving towards raising awareness for endangered animals across the world. We reach millions of children across China and give them the opportunity to obtain an understanding of the importance of these endangered animals and why they must be protected. We are delighted to have the The Chinese People’s Association for Friendship with Foreign Countries (“CPAFFC”) as a sponsor for our Animal Paradise event and to have their assistance in reaching millions of children across China.”

This announcement is available for download on our RNS page and a copy of the event report is available here.

JAPAN SHOWS UPDATE


LVCG continues to grow its market presence and enhance its reputation throughout Japan by simultaneously running two BRICKLIVE events over the past few days. The cities of Shizouka and, for the first time Akihabara both opened their doors on Saturday 11th August to crowds of BRICKLIVE fans ready to enjoy the interactive content.

Both events ran across the weekend with Akihabara running until today, while Shizouka finished yesterday. Both shows were very well attended, as the content continues to inspire all to learn, build and play, featuring BRICKLIVE’s staple brick pits, LEGO® Star Wars Zone, race tracks, graffiti wall and more.

David Ciclitira: Executive Chairman of LVCG, said: “We are delighted to see this exciting expansion within Japan. Together with Korea, where we first began our international expansion, Bricklive Japan continues to grow its number of shows this year. It is such a great achievement to
see the brand continue to grow.”

You can download a copy of this release on our RNS page

View our news archive