22:51 Fri 29 Nov 2019
Live Company Group - Update re the Riverfort Facility
("LVCG", the "Company" or the "Group")
Update re the Riverfort Facility
On
The Facility was drawn down in full during Q4 2018 to provide working capital to the Group and is repayable, plus interest, in accordance with a monthly schedule, with the final principal repayment of
The Company confirms that the Investors have agreed to extend the November payment due under the Facility to the Repayment Date and that the parties are in discussions to agree terms on an extension for the settlement of the Outstanding Balance to
In the event that terms are not agreed by the Repayment Date for the Proposed Extension, as detailed in the Company's announcement of
In the event that a Right to Convert is granted to the Investors and they exercise such right in part or in full through the provision of a conversion notice to the Company ("Conversion Notice"), the Investors will be issued such number of Conversion Shares based on the amount to be converted pursuant to the Conversion Notice received by the Company at that time and on the conversion price, being the lower of:
·
· 90% of the lowest daily VWAP in respect of the Ordinary Shares during the 10 business days immediately preceding the date of the relevant Conversion Notice.
Under the terms of the Loan Agreement, in the event that any of the Outstanding Balance remains unpaid and has not been converted by the
Further announcements will be made as appropriate.
Enquiries:
David Ciclitira, Chairman
Ruth Cunningham, Chief Operating Officer
Stuart Faulkner / Richard Tulloch / Georgia Langoulant
Damon Heath
LIVE COMPANY GROUP
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
Website: www.livecompanygroup.com.
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