Announcement
Immotion Group PLC : Admission and First Day of Dealings
RNS Number : 3765U
Immotion Group PLC
12 July 2018
12 July 2018
Immotion Group PLC
Admission and First Day of Dealings
Placing to raise £5.75 million
Immotion Group Plc ("Immotion Group" or the "Group"), the UK-based immersive virtual reality ("VR") 'Out of Home' entertainment business, is pleased to announce that the Admission and trading of its Ordinary Shares will take place today at 8.00am on the AIM market of the London Stock Exchange ("AIM"). The Company will be trading under the ticker symbol IMMO.
Highlights
· £5.75 million gross proceeds raised through the placing of 57,500,000 new Ordinary Shares at 10p per share, in a significantly oversubscribed placing through WH Ireland Ltd and Shard Capital Partners LLP - the number of ordinary shares in issue will be 195,351,590
· Upon Admission, the Group will have a market capitalisation (at the Placing price of 10p per Ordinary Share) of approximately £19.54m
· Funds will be used to implement Immotion Group's strategy to become a leading participant in the 'Out of Home' VR experience market by creating and publishing high quality VR content and combining it with its VR motion platforms to create truly immersive experiences
· The 'Out of Home' VR experience market is forecast to grow eight-fold to $8bn by 2022
· Immotion generates revenues through the delivery of high quality "state of the art" VR experiences, combined with cutting edge motion platforms to consumers at an affordable price point through a range of routes:
o Sales - sale of VR Motion Platforms to Leisure and Entertainment operators provide the opportunity for the operator to drive substantial ancillary revenues
o Concession partners - currently installed at Merlin Entertainments' Lego Discovery Center in Boston, USA and Genting Resorts World in Birmingham, with further sites under agreement - this channel provides an opportunity for its partners to earn ancillary revenues, as well as providing an exciting additional attraction to their facilities
o Owned and franchised outlets, trading as Immotion VR, located in high footfall shopping centres - first retail store in Bristol (opened in December) has seen growing revenues, and has enjoyed 100% 5* reviews on TripAdvisor
· "Create, Publish and Distribute" model - Immotion Group's award winning creative studios are creating exciting VR content for its motion platforms, published using its proprietary Content Management System
· Established by Martin Higginson and David Marks, two highly experienced technology and media entrepreneurs, with Sir Robin Miller as Chairman
Martin Higginson, Chief Executive Officer of Immotion Group, said: "In combining award-winning storytelling, CGI production and precise motion synchronisation, Immotion Group can deliver experiences that are not easily replicable in the 'in home' market. We have already experienced a very positive reaction from consumers, many of whom are trying VR for the first time, and from business partners who see the strong potential for our VR platforms to provide a new revenue opportunity.
"The five star reviews received from our retail customers, along with the early sales of motion platforms and a successful launch experienced by our Concession Partner, Merlin Entertainments' Lego Discovery Center in Boston, have given us confidence in the market and our strategy to deliver on the opportunity. We believe that this IPO will enable us to build momentum and achieve our goal to build the business across the UK, Europe and USA in what is an exciting, fast growing market."
To view the Company's Admission Document, please visit: https://immotion.co.uk/
Enquiries:
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Immotion Group |
Martin Higginson |
Tel: +44 (0) 161 235 8505 |
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WH Ireland Limited (Nomad and Joint Broker) |
Adrian Hadden Jessica Cave |
Tel: +44 (0) 207 220 1666 |
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Shard Capital Partners LLP (Joint Broker) |
Damon Heath Erik Woolgar |
Tel: +44 (0) 20 7186 9900 |
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Redleaf Communications (Financial PR) |
Elisabeth Cowell Robin Tozer Ian Silvera |
Tel: +44 (0) 20 3757 6880 |
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