Under the agreement, AWC will organise three BRICKLIVE shows, including two at Odysseum in Cologne and one at Explorado in Duisburg, to take place over the next 12 months.
The Cologne shows consist of a BRICKLIVE interactive show and a Brickosauras touring show while Duisburg would host a BRICKLIVE Force touring show.
AWC will become the firm’s exclusive partner in Germany, subject to organising at least three BRICKLIVE shows per year, while also becoming Live Company’s non-exclusive partner for other European shows excluding the UK and Ireland and working with the group to bring its BRICKLIVE Zoo programme to Germany.
The two would also collaborate to develop concepts for future BRICKLIVE shows, including a Christmas show exclusively in Germany and potentially elsewhere in Europe, while AWC would provide logistical support such as model warehousing to allow greater access to central Europe.
The agreement itself is for four years with a one-year break clause, under which AWC will pay Live Company a licence fee for each BRICKLIVE show it organises while receiving a commission for each BRICKLIVE Zoo show delivered in Germany and further payments for additional services.
The partnership follows closely behind Live Company's first foray into the US market, with its first BRICKLIVE show in the country held in January.
David Ciclitira, executive chairman of Live Company, said: “I am delighted to have AWC, a leading player in the exhibition sector, as our partner to deliver BRICKLIVE shows in Germany and potentially across Europe.”
Placing to fund BRICKLIVE Zoo expansion
In a separate release, Live Company announced an equity fundraising with certain existing investors to raise around £2.2mln.
The fundraise comprised the conditional placing of around 2.1mln new shares to raise £1.36mln and a conditional subscription of 1.3mln shares to raise £840,000, both at a placing price of 65p per share, a 4.8% premium to its last close price of 62p.
The company also said it would issue 1.25 warrants for every share in the fundraising which would provide the holder with the right to one new share on its exercise, exercisable for a two year period after the admission of the placing shares on 25 February at a price of 80p.
The money would be used to finance the expansion of the BRICKLIVE Zoo programme due to what the firm said was “significant interest” with seven shows already scheduled for 2019.
Revenues for 2018 were also “broadly in line” with expectations, the group said, with a “strong order book and pipeline of opportunities” from the start of 2019.
Shares were up 4.8% at 65p.
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