Live Company Group (AIM:LVCG) has today announced a new contract win in Korea with existing partner Brick Live Lab Limited for its BRICKLIVE exhibition ‘Animal Paradise Mini.’
The owner of the children's entertainment BRICKLIVE brand said the deal with Brive Live Lab Limited Brick Live Lab Limited - a company incorporated in Korea and controlled by Mr Hyun Seok Kim - had been completed on a joint venture basis as part of a longer term initiative.
“In Korea there is an appetite for Bricklive outdoors and we have been quick to take up that appetite,” said Chairman of Live Company Group, David Ciclitira.
He added, “Our partner in Korea Mr Kim has created a long term initiative - a precursor to create a bigger tour going forward as a result of market demand demonstrating his ongoing belief in our business strategy. "
Shares in Live Company Group have traded consistently over the past two weeks and closed at 9.5p on Tuesday afternoon.
Meanwhile, the company restructured its balance sheet earlier this week with a new long-term CBILS lending facility with Close Leasing, part of merchant bank Close Brothers Group.
Specifically, its subsidiary, Bricklive International, entered into a sale and lease back under a hire purchase agreement for £1.5m for five years and with a headline rate of 7.68%.
"The debt restructuring provides us with an innovative way of reducing our cost of capital for the next five years. I would like to thank Riverfort for their support over the past few years when we needed it most,” said Ciclitira in a statement on Monday morning.
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