Live Company Group PLC (LON:LVCG) has struck a fresh deal to take its Lego brick exhibitions to South Korea for the next three years.
BRICKLIVE Korea, which is owned by Live Company shareholder Hyun Seok Kim, will pay US$300,000 a year to show the exhibitions.
READ: Live Company rises as it remains confident of exceeding events target for 2019
The first touring show will be Mythical Beasts, which is due to run until the end of August 2020.
Live Company will then take two more shows to South Korea over the following two years.
The deal with BRICKLIVE Korea replaces a similar agreement Live Company had struck with another South Korean firm, AWC Asia, last year, but the pair have decided to terminate that contract.
“I'm pleased to report that the Mythical Beasts show will next be exhibited at the MOA Shopping centre in Sejong-si, South Korea,” said chairman David Ciclitira.
New Deputy chairman for Bricklive
In the same statement, Live Company confirmed that Andy Smith will become the deputy chairman of Bricklive Group, where he will focus on the long-term strategy of the group.
As a result, Smith will step down from Live Company’s board and as its chief strategic officer in order to focus on his new role, although he will remain chairman of Bright Bricks.
Chairman Ciclitira added: “I'm personally delighted that Andy Smith has accepted the position of Deputy Chairman of Bricklive Group and Jon Gayton will become Managing Director of Bricklive International.”
Live Company to use boss’ London property
Live Company also said it had entered into a formal agreement with Ciclitira to use his London property as an office when required, for a fee of £3,000 per month.
Ciclitira has also agreed to let the company, in which he is the main shareholder, use his property in Italy should staff need somewhere to stay when they are on business in the country.
Late-paying subscriber coughs up
Elsewhere, Live Company has finally received a small amount of money from a late-paying subscriber to its fundraising earlier in the week.
The investors had subscribed for £200,000 worth of shares and has now paid £30,000 of that. Live Company won’t chase them for the rest given the likely cost and time involved.
Shares were down 6.7% to 40p on Friday afternoon.