Live Company Group PLC (AIM:LVCG) told investors that a motor racing event to be delivered by the group, the Formula E Cape Town E-Prix, has been delayed by a year due to ongoing COVID-19 impacts in South Africa.
The inaugural Cape Town E-Prix is now set to be staged in Season 9 (i.e. 2023) rather than in Season 8 (2022) as originally intended.
A number of key events will still go ahead to build up to the inaugural race, including the track reveal and an e-Investment seminar to map out a 10-year programme of strategies to drive the e-mobility economic sector, Live Company said.
"Despite the delay which is disappointing LCSE is extremely proud to be delivering an event of this calibre to the South African public,” said LCSE managing director Bruce Parker-Forsyth.
“Plans are well underway for us to host the maiden race here, and we are working closely alongside the City of Cape Town and Formula E Operations delivery teams to deliver a prestigious, world-class spectacle of motor racing like never seen before in our city.
“Co-founder and chief championship officer Alberto Longo is quoted as saying 'we cannot wait to see you in Cape Town in season 9' and that '… we have a very long-term partnership with our friends at E-Movement. We at LCSE cannot wait either."