Live Company raises funds to boost 2020 build programme

Live Company Group PLC (LON:LVCG) said it has raised £400,000 in a share placing to help fund its planned build programme for 2020 and to “take advantage of post lockdown operating conditions”.

The media group raised the funds through the placing of 4mln new shares at a price of 10p each, a 20% discount to its closing price on Thursday.

READ: Live Company posts lower losses following transformational year

The company also said it has agreed to amend a £500,000 loan provided by its executive chairman, David Ciclitira, through which £205,000 of the loan will be converted into shares at the placing price. Following the conversion, £295,000 of the loan will remain outstanding.

"The placing puts us in a strong position to emerge from lockdown on the front foot and to continue with our growth strategy”, Ciclitira said.

“With zoos now able to open in the UK – including those where we have our assets installed or soon to be installed. Our first Zoo in the US – JB Zoo has experienced reRead More – Source

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