LVCG.L

Live Co. Group Plc
Live Company Group - Appointment of Administrator over BLI
13th September 2024, 13:25
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 1901E
Live Company Group PLC
13 September 2024
 

13 September 2024

 

 

 

LIVE COMPANY GROUP PLC

("LVCG", the "Company" or the "Group")

 

Appointment of Administrators over Brick Live International Limited ("BLI")

 

The Company announces that, following its recent announcements, BLI was placed into administration during the afternoon of 12 September and that Ben Woodthorpe and Simon Jagger of ReSolve Advisory Limited have been appointed as Joint Administrators of that business (the 'BLI Administrators').

The potential restructuring and/or sale of assets of BLI will be realised by the BLI Administrators in due course and, where surplus funds are generated, these will be distributed as payments to BLI creditors in accordance with the statutory priority.

For expressions of interest in the business and/or assets of BLI, please contact ReSolve on 020 8066 3858 or by emailing daniel.hashemi@resolvegroupuk.com.

 

Trading in the Company's shares are currently suspended pursuant to AIM Rule 40 and late publishing of the annual accounts.

 

Further to the appointment of the BLI Administrator, the Company has effectively ceased to control and conduct all, or substantially all, of its existing trading business, activities or assets and accordingly the Company will be regarded as an "AIM Rule 15 cash shell" as defined under the AIM Rules.   Subject to any other matters, AIM Rule 15 states that the Company has six months to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 after which the shares would be suspended.

 

Live Company Sports and Entertainment (Pty) Limited and KPOP Lux Limited remain within the group but are currently inactive.

 

Further announcements in relation to the Company will follow in due course.

Enquiries:

Live Company Group Plc

David Ciclitira, Executive Chairman

 

Tel: 020 7225 2000



Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish/Rosalind Hill Abrahams

Tel: 020 7628 3396



CMC Markets UK Plc

Thomas Smith

Douglas Crippen

Tel: 020 3003 8255

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

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
 
 
MSCXXLFFZKLLBBX]]>
TwitterFacebookLinkedIn