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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Live Company Group Plc | LSE:LVCG | London | Ordinary Share | GB00BGSGT481 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.50 | 0.45 | 0.55 | 0.50 | 0.50 | 0.50 | 0.00 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMLVCG
RNS Number : 0451O
Live Company Group PLC
30 September 2019
30 September 2019
LIVE COMPANY GROUP PLC
("LVCG", the "Company" or the "Group")
HALF-YEARLY RESULTS FOR THE SIX MONTHSED 30 JUNE 2019
Live Company Group Plc (AIM: LVCG), a leading live events and entertainment group, announces its half-yearly results for the six-month period ended 30 June 2019.
Highlights
-- Revenue for the first six months was GBP2.0m (1H 2018 GBP2.8m), in line with expectations
-- Full year results weighted to second half, with majority of the larger BRICKLIVE shows, including the Group UK flagship show at the NEC, held in the second half of 2019
- Revenue of GBP4.8m for 2019 already secured from shows and builds, with a further GBP0.4m of fixed fee contracts for 2019 currently out for near term signature. This excludes the majority of revenues from the Group's flagship NEC show and other upcoming BRICKLIVE shows for 2019 where the Group receives a share of the profits
-- Group has been trading EBITDA profitably since Q2 and in line with expectations
-- The Group has good visibility going forward, with a strong pipeline of events, with forward contracted sales of GBP2.3m for 2020 and GBP0.75m for 2021 already in place
-- 63 events secured for 2019, against a projected target of 60, with further events expected to be contracted before the year end
-- The Group has invested heavily in expanding its asset base in the year to date and, with the integration of Bright Bricks, the Group now has
- Increased the number of touring shows from 9 to 15, ahead of schedule, expanding the Group's ability to host multiple shows and events at the same time
- Approximately 850 brick-based models across the Group -- The Group has secured multi-year contracts with
- Nickelodeon UK Limited to provide themed tours associated with the Nickelodeon brand, including the Nick Jr. brand in UK and Ireland, with the first BRICKLIVE Paw Patrol tour launched at the end of August 2019
- Snowman Enterprises Limited, part of Penguin Random House, to produce a themed tour of The Snowman and The Snowdog
-- The appointment of Mark Freebairn to the Board as an independent Non-executive Director, with effect from 1 October 2019
Investor Meeting and Call
Following release of the interim results for the six months ended 30 June 2019, the Company will host an investor meeting at Shard Capital LLP's offices at 10 Hill Street, London, W1J 5NG at 11.00 a.m. today. Investors who are unable to attend the meeting in person will be able to join the meeting via teleconference. Investors wishing to attend the meeting and or join via teleconference, should register their interest at info@livecompanygroup.com.
David Ciclitira, Chairman, said: "2019 has seen us invest in expanding our asset base to enable us to host multiple shows and events across numerous locations and geographies at any one time, providing the foundations for long term sustainable growth in the business.
This has enabled us to have already exceed our target of 60 events for 2019, having already hosted BRICKLIVE events in China, Japan, South Korea, America, Germany and the UK, with a very busy end to the year ahead. We have also secured international IP partners such as Nickelodeon UK and Ireland and Snowman Enterprises and established new partners in Europe, and America and I'm delighted with the progress that has been made in the year to date.
We have made multiple new appointments over the last 12 months and I am pleased to welcome Mark Freebairn to the Board as an independent Non-executive Director who joins us tomorrow.
I'm very excited about the opportunities that the remainder of 2019 and 2020 will bring and, with the Group trading in line with expectations, I'm confident for the overall outcome for 2019."
Enquiries:
Live Company Group Plc Tel: 020 7225 2000
Ruth Cunningham, Chief Operating Officer
Strand Hanson Limited (Nominated Adviser) Tel: 020 7409 3494
Stuart Faulkner / Richard Tulloch / James Dance
Shard Capital Partners LLP (Broker) Tel: 020 7186 9952
Damon Heath
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.
LIVE COMPANY GROUP
Live Company Group plc ("LVCG", the "Company" or the "Group") is a live events and entertainment Company, founded by David Ciclitira in December 2017. The Company was admitted to trading on AIM in December 2017, following the reverse acquisition of Brick Live Group and Parallel Live Group by LVCG.
The Group is a network of partner-driven fan-based shows using BRICKLIVE created content worldwide. The Company owns the rights to BRICKLIVE - an interactive experience built around the creative ethos of the world's most popular construction toy bricks. BRICKLIVE, which is fast becoming a leading children's education and entertainment brand, actively encourages all to learn, build and play, and provides inspirational events and shows where like-minded fans can push the boundaries of their creativity. Bright Bricks is the Group's production centre for building brick-based models. The Group is an independent producer of BRICKLIVE and is not associated with the LEGO Group.
Website: www.livecompanygroup.com.
CHAIRMAN'S STATEMENT
The first nine months have been a time of significant growth and activity in every area of the Group.
I'm delighted to report the full operational integration of Bright Bricks Holdings Limited ("Bright Bricks") into the Group has now completed and our internal processes have been streamlined. The Board believes that following the integration of Bright Bricks, the Group is now one of the largest and most significant brick-based companies in the world.
The acquisition of Bright Bricks also provided the Group with security of bricks supply, enhanced speed to market and increased competitive advantage whilst raising barriers to entry. Following the fundraise in February 2019, this has enabled us to rapidly grow and expand our asset base, and I'm pleased to announce that we have already hit our target of 15 touring shows for 2019 and are now seeking to have 16 touring shows in place by the year end. This further expands our offering and enables us to host multiple shows and events at any one time.
We have also continued to build our pipeline of events and shows and I am pleased to announce that we have also now exceed our target of 60 BRICKLIVE events in 2019, with 63 BRICKLIVE events now scheduled to be held in 2019 and more are expected.
This provides us with significant visibility for the year and currently we have booked revenues of GBP4.8m for 2019 from shows and builds, with a further GBP0.4m of fixed fee contracts for 2019 out for near term signature, and with income from BRICKLIVE events, such as our flagship UK event at the NEC, to come, we are confident for the outcome of 2019.
We have developed new partnerships, announcing AWC AG in Germany, Imagine Exhibitions in USA and Pal Expo in Geneva. We have also created new partnerships with global IP partners this year including Nickelodeon UK Limited and Snowman Enterprises Limited, part of the Penguin Random House group of companies, we also have good visibility for forward sales in 2020 and 2021.
I'm delighted that our network of global partners continues to grow from strength to strength which is a testament to the BRICKLIVE brand, and we continue to seek to expand the number, quality and depth of relationship with our partners.
The Company is also in advanced discussions with the Bright Brick vendors regarding the deferred consideration due in October 2019, relating to the Bright Brick acquisition completed in October 2018, being settled through the issue of new ordinary shares and we will keep shareholders updated in this regard.
Asia
Asia continues to deliver its target and in spite of tough conditions, continues to perform in line with expectations. After the successful launch of BRICKLIVE Animal Paradise in the Birds Nest, Beijing, we have started to launch touring shows in Asia which have included models from our BRICKLIVE Brickosaurs collection in the New Yansha Mall and BRICKLIVE Animal Paradise in Niigata, Japan, where visitor numbers exceeded expectations with 19,000 attending the event.
We were also pleased to announce a three-year agreement with BRICKLIVE Korea Co., Ltd, to exhibit a new touring show each year and the first show will be Mythical Beasts exhibited later in 2019.
Europe
2019 has seen significant growth in the Group's activities in Europe.
During the October half term, there will be four BRICKLIVE Shows running simultaneously across Europe over a two week period and will take place in the NEC, Birmingham (UK); Liverpool (UK); Brussels (Brussels); and Geneva (Switzerland). In addition, we will be launching BRICKLIVE Brickosaurs in Cologne, Germany.
I believe that this is an incredible milestone for the Group and demonstrates the significant growth trajectory in building the European network over the last 12 months and demonstrates the popularity and demand for the BRICKLIVE brand. The Group will work to identify suitable partners to further expand our European network.
North America and South America
In January 2019, we staged a BRICKLIVE Show in Dallas, Texas in partnership with Live Nation and the Dallas Cowboys, the Group's first BRICKLIVE Show in the US which was a huge success. We also recently announced a new partnership with Imagine Exhibitions, an established global travelling entertainment exhibitor to help expand our touring presence in this market.
The Group has also seen the expansion of the BRICKLIVE Zoo programme with BRICKLIVE Animal Paradise launched in Brookfield Zoo, Chicago in May 2019 before making its journey to New England Zoo in Boston, Massachusetts. Alongside this, we also attended the American Zoos and Aquarium Association with Imagine Exhibitions in September 2019 and following the event, I am delighted to report that we have secured a contract for 2020 with John Ball Zoo in Michigan and discussions are ongoing with other zoos and aquariums for 2020 and 2021.
In 2020, we expect America to be a significant growth area as we have a clear and focussed strategy to expand the BRICKLIVE brand. As a result of this North America focus, the Board has decided to put a hold on activity in South America for the time being. Instead those assets currently in South America will be redeployed to North America to assist with our North American expansion programme.
UK
In April 2019, we announced that we would be managing, operating and self-promoting the Group's flagship BRICKLIVE show at the NEC, Birmingham for the first time. We are delighted to announce that Nickelodeon, one of our flagship IP partners, will become the show's sponsor.
The BRICKLIVE Show will feature brand new content and interactive features, launching at the NEC and will, therefore, set the benchmark for future BRICKLIVE shows. I would like to welcome any shareholder and their family to the event - all enquiries should be directed to info@livecompanygroup.com.
We have also launched a BRICKLIVE Show in Aberdeen and will shortly be launching a BRICKLIVE Show in Liverpool bringing the total number of BRICKLIVE shows in the UK to three and I would expect this to grow in 2020.
We are delighted that our touring shows including the BRICKLIVE Zoo programme is going from strength to strength, having successfully launched new shows this year which included BRICKLIVE Brickosaurs in Marwell Zoo and BRICKLIVE Ocean in Edinburgh Zoo. We expect the touring shows and the BRICKLIVE Zoo programme to grow in 2019 and 2020 as the pipeline of enquires remains strong as demonstrated by the forward sales achieved so far. We have also launched the hugely successful BRICKLIVE Paw Patrol tour in Blackburn in August 2019 and it will be visiting venues in 2019 and 2020.
Appointments and Corporate Governance
Strand Hanson was appointed as the Company's Nominated Advisor in January 2019.
We have strengthened our Board with the announcement today of our appointment of Mark Freebairn as a Non-Executive Director. Mark has significant experience with AIM quoted companies and following his appointment, which is effective as of the 1 October 2019. Mark will also sit on the Remuneration Committee. Serenella Ciclitira will step down from the Remuneration Committee and I would like to thank her for her services and contribution to the Committee.
We have also strengthened the Group's senior management team with the appointment of Andy Smith as BRICKLIVE Group Deputy Chairman, having until recently been on the Group Board. Jon Gayton as Managing Director of BRICKLIVE International and Snehal Lakani as Group Financial Controller to the Group's Executive Board. Snehal has a wealth of experience in an AIM quoted company.
The Group has undertaken an entire review of the operating costs and implemented cost saving measures to deliver efficiencies. We are continually reviewing the Group's operating costs to maximise returns and deliver value for our shareholders.
With effect from today, I have decided to forgo my rental agreement for the use of my premises, which relate to the use of my home as the Company's London office as well as the use of my property in Italy. The Group will still have access to both properties as and when required.
Outlook
2019 has been a year of significant investment and we are now seeing the fruits of our hard work, with 63 BRICKLIVE events already scheduled for 2019 and more to follow, and a strong pipeline for 2020 and beyond and we look forward to continuing to develop our relationships and offering with our partners and clients.
With results very much weighted to the second half of 2019, the Board remains confident for the outcome for the remainder of 2019 and with a strong and growing pipeline for 2020, we look forward to keeping shareholders updated on our continued progress.
Finally, I would personally like to thank all of our staff, advisors, shareholders and others who have supported me and the Group over the last year.
David Ciclitira
Chairman
29 September 2019
Number of BRICLIVE events/shows scheduled for 2019
Hot Features
Premium
Previous FY 2019 2019 Events as
Projections (announced at 27 September
BRICKLIVE Events/Shows FY 2017 FY 2018 5 July 2019) 2019
Asia 8 20 13 11
-------- -------- ------------------------ -----------------
Europe 8 10 42 47
-------- -------- ------------------------ -----------------
North America 1 1 3 4
-------- -------- ------------------------ -----------------
South America 1 3 1 -
-------- -------- ------------------------ -----------------
Middle East - - 1 1
-------- -------- ------------------------ -----------------
Total 18 34 60 63
-------- -------- ------------------------ -----------------
Number of Touring Shows
Before acquisition After acquisition Projected
of Bright of Bright Reported September by end
Bricks Bricks Q2 2019 2019 of 2019
Number of Touring
Shows 1 9 12 15 16
------------------- ------------------ --------- ---------- ----------
Number of Models
Before acquisition
of Bright As of 31 As of 27 September
Bricks March 2019 2019
Number of
models 70 650 850
------------------- ------------ -------------------
CHIEF FINANCIAL OFFICER UPDATE
Revenue and operations
I am pleased to report that first half revenues and EBITDA for 2019 were in line with expectations. Following completion of the integration of Bright Bricks in the first half of 2019 and the upward growth curve of the Group, revenue and profits will be heavily weighted to the second half of the year. The Group continues to trade in line with budget as the number of shows and events continues to grow.
As of the date of this report, the Group has already secured revenues of GBP4.8m for 2019 from shows and builds, with a further GBP0.4m of contracts for 2019 out for near term signature. Taking into account revenues from our shows in which we participate in the profits, as opposed to receiving a fixed fee, which includes the Group's flagship show at the NEC in October 2019, the Board is confident for the outcome for 2019.
Amounts invoiced in advance of being released to the income statement amounted to GBP1.67m as at 30 June 2019. This is an increase of GBP1.0m compared to 31 December 2018.
When compared to the first half of 2018, revenues are down approximately GBP0.8m, primarily as a result of an unusually high sale in the first half of 2018 relating to Animal Paradise in China, amounting to US$0.8m in respect of upfront content fee. Of the three year contract, US$1.6m related to sale of content, which was received in full during 2018, and US$1.5m related to annual licence fees to be received over the three year term.
EBITDA
In line with projections, EBITDA for the first six months amounted to a loss of GBP482,000.
A reconciliation of adjusted EBITDA to profit for the period is provided as follows:
6 months 6 months
30 June 2019 30 June 2018
Adjusted EBITDA (482) 258
Finance costs (44) (17)
Depreciation and amortisation expense (293) (134)
Exceptional items relating to fundraise (251) -
------------- -------------
(Loss) / Profit for the period (1,070) 116
Operating expenses
The absorption of Bright Bricks Limited into the Group had a significant impact on overheads, increasing to GBP1.9m (1H 2018: GBP1.4m). The Group is continuing to identify efficiencies and is actively streamlining processes to reduce overheads.
As of 24 September, the Group had GBP140,000 of available cash.
Bryan Lawrie
Chief Financial Officer
29 September 2019
Unaudited condensed consolidated income statement for half year to 30 June 2019
Notes 30 June 2019 30 June 2018
Unaudited Unaudited
GBP'000 GBP'000
Continuing operations
Revenue 2 1,996 2,842
Cost of sales (853) (891)
Gross profit 1,143 1,951
Administrative expenses
Foreign exchange (loss) / gain (4) 6
Depreciation and amortisation of
non-financial assets (27) (2)
Other administrative expenses (1,887) (1,435)
Total administrative expenses (1,918) (1,431)
Operating (loss) / profit before
exceptional items (775) 520
Exceptional items 3 (251) -
Operating (loss) / profit after
exceptional items (1,026) 520
Finance costs (44) (17)
(Loss) / profit for the period (1,070) 503
Tax expense / credit - -
(Loss) / profit for the period
from continuing operations (1,070) 503
------ ------------- -------------
(Loss) / profit for the period
from discontinued operations - (387)
Profit / (loss) for the period (1,070) 116
Other comprehensive income - -
Total comprehensive income attributable
to the equity holders of the parent
company (1,070) 116
------ ------------- -------------
(Loss) / profit per share
Basic and diluted 4 (1.5p) 0.2p
Condensed statement of financial position
Notes 30 June 31 December
2019 2018
Unaudited Audited
GBP'000 GBP'000
Property, plant and equipment 6 4,008 3,551
Intangible assets 7 78 50
Goodwill 4,307 4,307
Total non-current assets 8,393 7,908
---------- ------------
Current assets
Inventories 6,399 6,491
Trade and other receivables 1,751 692
Cash and cash equivalents 110 120
Total current assets 8,260 7,303
---------- ------------
Total assets 16,653 15,211
---------- ------------
Current liabilities
Borrowings 875 1,000
Deferred income and accruals 1,776 849
Trade and other payables 2,308 2,612
Total current liabilities 4,959 4,461
---------- ------------
Non-current liabilities
Deferred tax 123 123
123 123
---------- ------------
Total liabilities 5,082 4,584
---------- ------------
Net assets 11,571 10,627
---------- ------------
Equity
Share capital 8 4,788 4,754
Share premium 20,509 18,470
Other reserves (23,696) (23,696)
Merger reserve 14,067 14,067
Capital redemption reserve 5,034 5,034
Retained earnings (9,131) (8,002)
11,571 10,627
---------- ------------
Unaudited condensed consolidated statement of cashflows for the six months ended 30 June 2019
30 June 2019 30 June 2018
Unaudited Unaudited
GBP'000 GBP'000
Cash flows from operating activities
(Loss) / Profit for the Period (1,070) 116
Depreciation 290 131
Amortisation of trademarks 3 2
Change in fair value from bricks used (59) -
in Content sales
(Increase) in receivables (1,059) (1,424)
Decrease (increase) in stock 92 -
Increase (decrease) in payables 666 (1,167)
Cash used in operations (1,137) (2,342)
Cash flow from investing activities
Acquisition of trademarks (31) (33)
Acquisition of property, plant and
equipment (746) (383)
Net cash used in investing activities (777) (416)
Cash flow from financing activities
Proceeds from issue of equity 1,967 1,950
Shares issued to settle fees 145 -
Commission on shares (39) -
Loans repaid (125) -
Interest paid (44) -
Net cash generated from financing activities 1,904 1,950
Net cash outflow (10) (808)
Cash and cash equivalents at beginning
of the period 120 871
Cash and cash equivalents at end of
the period 110 63
Unaudited condensed consolidated statement of changes in equity for half year to 30 June 2019
Ordinary Share Reverse Forex and Merger Capital Retained Total
Share Premium acquisition other reserves reserve Redemption Earnings
Capital reserve reserve
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
As at 1 January
2018 4,566 13,695 (24,268) 557 8,651 5,034 (5,391) 2,844
Loss for the
year - - - - - - 116 116
Shares issued
for cash 56 1,894 - - - - - 1,950
As at 30 June
2018 4,622 15,589 (24,268) 557 8,651 5,034 (5,275) 4,910
--------- --------- ------------- ---------------- --------- ------------ ---------- --------
As at 1 January
2019 4,754 18,470 (24,268) 572 14,067 5,034 (8,002) 10,627
Loss for the
period - - - - - - (1,070) (1,070)
Changes in fair
value from
bricks used in
Content sales - - - - - - (59) (59)
Shares issued
for cash 31 1,969 - - - - - 2,000
Debt to share
conversion 3 172 - - - - - 175
Share issue
costs - (102) - - - - - (102)
As at 30 June
2019 4,788 20,509 (24,268) 572 14,067 5,034 (9,131) 11,571
--------- --------- ------------- ---------------- --------- ------------ ---------- --------
NOTES TO THE FINANCIAL INFORMATION
1. Basis of preparation
The condensed consolidated interim financial report for the half-year reporting period ended 30 June 2019 are unaudited and have been prepared in accordance with Accounting Standard IAS 34 Interim Financial Reporting and the same accounting policies and methods of computation are followed in the interim financial report as compared with the most recent annual financial statements. They do not constitute statutory accounts as defined in section 434 of the Companies Act 2006. The financial statements for the year ended 31 December 2018 were prepared in accordance with International Financial Reporting Standards as adopted by the EU. The report of the auditor on those financial statements was unqualified and did not draw attention to any matters by way of emphasis of matter.
The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended 31 December 2018 and any public announcements made by the Live Company Group Plc during the interim reporting period.
2. Segment Information
In 2018, the Group operated under two segments:
(i) Product and content sales; and (ii) Tours, events, licenses and content rental fees.
For the 2019 interim accounts, we are reporting against the 2018 segments. For the 2019 annual accounts, processes are being established to separately report on the performance of the BRICKLIVE Zoo programme in subsequent reporting periods.
Tours, events,
Product and content licenses and content Discontinued
sales rental fees Plc costs activities Total
Six months to 30 June GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
2019
Revenues 403 1,593 - - 1,996
Cost of sales (167) (686) - (853)
Administrative
expenses* (257) (1,018) (642) - (1,918)
Finance costs - - (44) - (44)
Exceptional items - - (251) - (251)
Segment (loss) profit
for period (22) (111) (937) - (1,070)
---------------------- ---------------------- ---------- ----------------------- --------
Adjusted EBITDA (22) 181 (642) - (483)
Six months to 30 June GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
2018
Revenues 694 2,148 - 431 3,273
Cost of sales (229) (662) 817 (1,708)
Administrative
expenses* (215) (665) (560) (1,440)
Finance costs - - (9) (9)
Exceptional items - - - - -
Segment (loss) profit
for period 250 821 (569) (386) 116
---------------------- ---------------------- ---------- ----------------------- --------
Adjusted EBITDA 250 955 (560) (387) 258
*Administrative expenses which are not directly related to the running of the plc are allocated to each segment in proportion to recognised revenue.
The Group uses adjusted EBITDA as a measure to assess the performance of the segments. This excludes discontinued operations and the effects of significant items of expenditure which may have an impact on the quality of earnings such as restructuring costs, fundraising costs, legal expenses and impairments when the impairment is the result of an isolated, non-recurring event.
Interest expenditure is not allocated to segments as this type of activity is driven by the central treasury function which manages the cash position of the Group.
3. Exceptional items
This related to the final legal costs in respect of the acquisition of Bright Bricks Limited and the subsequent expenses in connection with the fundraise announced on 11 February 2019.
4. Earnings per Share
The basic earnings per share are calculated by dividing the profit attributable to equity shareholders by the weighted average number of shares in issue during the year. In calculating the diluted earnings per share, any outstanding share options and warrants are considered where the impact of these is dilutive.
Six months to 30 June Six months to 30 June 2018
2019
(Loss) / profit for the period (GBP'000) (continuing) (1,070) 503
(Loss) / profit from all operations (GBP'000) (1,070) 116
---------------------- ---------------------------
Weighted average number of shares in issue 69,286,901 52,517,314
Earnings (loss) per share
From continued and discontinued operations
Basic and diluted earnings per share (1.5p) 0.2p
From continued operations
Basic and earnings per share (1.5p) 1.0p
* Diluted earnings per share in both 2019 and 2018 are the same as basic earnings per share, as the options in issue had no dilutive effect on continuing operations.
5. Dividends
No dividend was recommended or paid for the period under review.
6. Property, plant and equipment
The principal reason for the increase in property, plant and equipment was the capitalised cost of building new touring assets for the Group's BRICKLIVE Zoo programme.
Property, plant and equipment GBP'000 At 31 December 2018 Cost or fair value 3,954 Accumulated depreciation (402) Net book value 3,552 Half year ended 30 June 2019 Opening net book value 3,552 Additions to Content 723 Other additions 23 Depreciation charge (290) Net book value 4,008 7. Intangible assets - trademarks
The intangible assets increased as a result of the cost of establishing newly registered BRICKLIVE trademarks around the world.
At 31 December 2018 GBP'000
Cost 55
Accumulated amortisation (5)
Net book value 50
Half year ended 30 June 2019
Opening net book value 50
Additions 31
Amortisation charge (3)
Net book value 78
--------
8. Issued share capital
There was one placing issue and one subscription issue in the period:
Price Nominal Premium
Shares per share Value per share Nominal per share Premium
issued GBP GBP'000 GBP GBP'000 GBP GBP'000
February
2019 2,153,846 0.65 1,400 0.01 22 0.64 1,378
May 2019 1,192,303 0.65 775 0.01 12 0.64 763
3,346,149 2,175 33 2,142
Issued share capital as at 30 June 2019 is comprised as follows:
Issued and fully paid No. of shares GBP'000
Ordinary shares of 1p 70,440,744 704
Deferred shares of 51.8p 2,047,523 1,061
Deferred ordinary shares of
0.5p each 199,831,545 999
Deferred B shares of GBP19.60 103,260 2,024
4,788
The deferred shares do not entitle their holders to receive dividend or other distribution nor do they entitle their holders to receive notice, attend speak or vote at any General Meeting of the Group. The rights of deferred shareholders are set out in full in the financial statements for the year ended 31 December 2018.
9. Related Parties
At 30 June 2019 the following amounts were owed to directors of the Group:
Unpaid balances at 30 June 2019 30 June 2019 31 December 2018
GBP'000 GBP'000
David Ciclitira 1 -
Serenella Ciclitira 0 43
Ranjit Murugason 10 50
Bryan Lawrie - 9
Trudy Norris-Grey 13 3
Simon Horgan* 180 170
204 275
*includes GBP166,667 deferred consideration in respect to the Bright Bricks acquisition.
Remuneration 6 months 6 months
30 June 2019 30 June 2018
GBP'000 GBP'000
David Ciclitira - international consultancy fees 206 175
David Ciclitira - UK chairman fees 13 13
Serenella Ciclitira 10 8
Ranjit Murugason 70 21
Simon Bennett - 20
Andrew Smith 53 60
Bryan Lawrie 72 -
Trudy Norris-Grey 10 -
Simon Horgan 10 -
444 297
10. Other
Copies of the unaudited half-yearly results have not been sent to shareholders, however copies are available at www.livecompanygroup.com or on request from the Group's Registered Office.
11. Approval of Half-Yearly Financial Statements
The half-yearly financial statements were approved by the Board on 29 September 2019.
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.
END
IR LLFFDASIAFIA
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