Live Company Group Plc’s (LON:LVCG) shares were lifted in early trading Friday after its touring subsidiary, Bricklive Touring Limited (BTL), inked a lease agreement with a South Korean firm for its Mythical Beasts touring assets.
The media group, which runs events involving LEGO statues under its BRICKLIVE brand, said the agreement between BTL and AWC Asia would run until December 2021 and involve the lease of 50 models created and built by Bright Bricks, the world’s largest LEGO statue builder which was acquired by LVCG in October.
In return for the lease, AWC will pay BLT a content and license fee of US$1.3mln in cash up front, with the tour scheduled to launch in South Korea at the end of January 2019.
David Ciclitira, executive chairman of Live Company, said the deal was the “first example” of the opportunities offered by its acquisition of Bright Bricks, adding that the assets were “a complementary fit to our existing network”.
The news comes as the company prepares to launch its own tour, BRICKLIVE BRICKOSAURS, in April next year at the Marwell Zoo near Southampton.
Shares were up 1.5% at 68p.
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