The information
contained in this announcement is restricted and is not for
publication, release or distribution in the United States of
America, any member state of the European Economic Area, Canada,
Australia, Japan or the Republic of South Africa.
25 March 2024
Literacy Capital plc ("Literacy Capital"
or the "Fund")
Literacy Capital announces new
investment in Live Business Group
New
investment
Literacy Capital is pleased to announce an
investment into Live Business Group ("Live"), a prominent provider
of turnkey entertainment solutions for global travel operators,
specifically in holiday resorts or on cruise ships.
Literacy Capital has acquired a significant
minority stake to support the founders' plans for growing Live
under their leadership. Further financial terms have remained
undisclosed.
Literacy Capital completes investment
into Live Business Group
Literacy
Capital plc has completed an investment into Live Business Group, a
leading international entertainment supplier to the travel, tourism
and leisure industry, which gives Literacy Capital a significant
minority stake.
Founded in
2015 by Mark Dixon and Dan Lock and based in West London, Live has
built a reputation for creating award-winning bespoke content,
bringing together creative, production and digital capabilities to
create complete entertainment solutions. Capabilities cover
everything from concept design, digital media content, to West-End
style production shows and live entertainment
activities.
Through
partnering with Live, clients are assured that regardless of
resort, location or season, consumers will consistently experience
enjoyable and age-appropriate entertainment offerings. The
company's commitment to technological and content innovation, and
continuous service improvement has driven its reputation as a
"best-in-class" entertainment partner. High quality entertainment
is often a key differentiator that helps resorts and cruise lines
set themselves apart, as it has a direct impact on end-customer
satisfaction and their experience.
The
investment from Literacy Capital will support Live Business Group's
ambitious growth plans, with a continued focus on the quality of
their service offering. Both Mark and Dan will continue in their
current roles at the forefront of the business' activities and
growth, ensuring that Live continues to deliver high-quality
entertainment to its clients.
The
transaction is Literacy's 23rd platform investment since
the inception of the fund in 2017 with Live joining the Fund's
diverse and growing portfolio of companies.
Enquiries
For further information, please
contact:
Literacy Capital plc / Book Asset Management
LLP:
Richard Pindar / Tom
Vernon
|
+44 (0) 20 3960 0280
|
MHP
Group:
Reg Hoare / Ollie Hoare / Matthew
Taylor
|
+44 (0) 20 3128 8100
book@mhpgroup.com
|
Singer Capital Markets Securities Limited:
Robert Peel
|
+44 (0) 20 7496 3000
|
About Literacy
Capital:
Literacy Capital (BOOK.L) is an
investment trust that was co-founded by Paul Pindar and Richard
Pindar in 2017 with £54 million of capital. Literacy subsequently
listed on the London Stock Exchange in June 2021. The Fund focuses
on opportunities to invest for the long-term in growing private
businesses where a clear route to creating additional value can be
seen with its support. The fund structure is evergreen, allowing it
to be more flexible and to accommodate the wishes or needs of
founders.
The Fund also has a unique charitable
objective, to donate 0.9% of NAV annually to charities focused on
improving literacy in UK children. Over £8.5 million has been
donated or reserved for donation to charities since the trust's
creation in 2017 up until 31 December 2023. For more information,
please visit our website: www.literacycapital.com.
Website:
www.literacycapital.com
LEI: 2549006P3DFN5HLFGR54
A copy of this announcement will be available on
the Company's website at www.literacycapital.com.