logo-loader
viewLive Company Group PLC

Live Company agrees amendments to existing loan facility and equity sharing agreement with investors

The maturity date of the existing loan facility, of which approximately £0.7mln in principal remains outstanding, has been extended to June 2021 from December 2020

Loan agreement
The investors are YA II PN, Ltd and RiverFort Global Opportunities PCC Limited

Live Company Group PLC (LON:LVCG) announced late on Friday that it has agreed amendments to its existing loan facility and equity sharing agreement (ESA) with investors YA II PN, Ltd and RiverFort Global Opportunities PCC Limited - formerly Cuart Investments PCC Limited.

In a statement, the AIM-listed firm said the maturity date of the existing loan facility, of which approximately £0.7mln in principal remains outstanding, has been extended to June 2021 from December 2020.

READ: Live Company targets expansion of BRICKLIVE brand in 2020 as contracted revenues rise

Under the extension, the principal, interest and fees under the facility will be repayable in nine equal monthly instalments of approximately £91,000, with the first payment being made in October 2020 and the final payment to be made in June 2021. The group said all other terms of the existing loan facility remain the same.

It added that the terms of the ESA have been amended so that the subscription amount will now be received over a period of 36 months commencing in March 2020, as opposed to over a period of 12 months. All other terms remain the same.

The company confirms that the terms of the new facility, of which £300,000 has been drawn to date, remains unchanged, with the first monthly payment, being due in April 2020.

David Ciclitira, Live Company’s chairman said: "The extension of the Existing Facility and ESA term with our Investors, reduces our very near term commitments and gives us greater financial flexibility going forward.

“We look forward to updating investors in due course with regards to our exciting ongoing business development and growth."

Quick facts: Live Company Group PLC

Price: 8.25 GBX

AIM:LVCG
Market: AIM
Market Cap: £7.25 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Live Company Group PLC named herein, including the promotion by the Company of Live Company Group PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Live Company chairman says business is now returning with first zoo in US...

Live Company Group PLC's (LON:LVCG) David Ciclitira tells Proactive London's Andrew Scott they had its first zoo reopen last week in Michigan which enjoyed record numbers on the first day and he adds that they've already got their models in several other zoos in anticipation of doors reopening....

on 15/6/20

2 min read