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Live Company Group

Live Company Group (LVCG) is a leading global children’s entertainment and education brand. LVCG was founded in 2017 by its Chairman David Ciclitira and is admitted to trading on the AIM market of the London Stock Exchange. The Company’s country of incorporation and main country of operation is the United Kingdom.

Live Group Company has acquired Bright Bricks Holdings with the help of RIverFort who arranged funding of £1 Million on order for the purchase. As set out in the Announcement, the Company had received an unconditional offer for a working capital facility. The Company has today entered into an agreement (the “Agreement”) for the provision of a £1,000,000 loan facility (the “Facility”) arranged by RiverFort Global Capital Limited. The Facility may be used for general working capital purposes, however, the Company has no current intention of drawing down on the Facility.

The Facility has a one-year term from drawdown. A commitment fee of 2.5% is payable on signing, and an implementation fee of 7% is deductible from the principal amount should the Company draw down on the Facility. Interest will apply on funds advanced at a rate of 9% per annum, and principal and interest is repayable on a monthly schedule (with an initial three-month repayment holiday and a final monthly principal repayment of £350,000).

The Facility may be extended, by mutual agreement, for a further 6 months on similar terms and fees.  Additionally, the Company may make early repayment of the full Facility together with the full annual interest premium.  For each due repayment, the Company may elect, at their discretion, to grant to the lenders the right to convert such repayment into new ordinary shares in the Company instead of a cash repayment.  The conversion rights also apply in any event of default.

Use of Proceeds

Company Acquisition

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