Announcement
Immotion Group PLC : Partnership Update
RNS Number : 5426N
Immotion Group PLC
25 September 2019
Immotion Group plc
("Immotion Group", "Immotion", the "Company")
Partnership update
Immotion Group, the UK-based immersive 'Out of Home' entertainment group, is pleased to announce agreements for three further installs in its fast growing Aquarium sector.
The first of which is with Dubai Aquarium, sited in the largest shopping mall in the World, the Dubai Mall, which boasts over 80 million visitors per annum. Immotion will install an initial four headsets in the Dubai Mall just outside the entrance of the Dubai Aquarium, one of the largest suspended aquariums in the World with over 140 species, including the largest collection of Sand Tiger Sharks in the World.
The two additional installs, four headsets each, are in Texas; the first at San Antonio Aquarium, and the second Austin's Aquarium.
These new additions will all feature the 'Ocean Explorer' series of experiences, including the latest experience from Immotion; 'Shark Dive' - a live action VR experience where users can get up close with Tiger and Hammerhead Sharks.
As noted in our interim statement, we are seeing excellent performance from the aquarium sector, which is currently trading ahead of our overall partner revenues, which in turn are trading ahead of our overall headsets revenues.
Martin Higginson, Immotion Group CEO said: "Demand from the aquarium market is really starting to gain traction. We now have over 50 active leads from this sector which gives us real confidence in hitting our EBITDA breakeven figures in Q1 2020. Signing up Dubai Aquarium is another major milestone in the Company's growth story. Not only is this one of the largest aquariums, it is located in the largest shopping mall in the World with over 80 million visitors a year."
Enquiries:
For further information please visit www.immotion.co.uk, or contact:
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Immotion Group
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Martin Higginson |
Tel: +44 (0) 161 235 8505 |
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WH Ireland Limited (Nomad and Joint Broker)
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Adrian Hadden Darshan Patel Matthew Chan
|
Tel + 44 (0) 207 220 1666 |
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Shard Capital Partners LLP (Joint Broker)
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Damon Heath Erik Woolgar |
Tel: +44 (0) 20 7186 9900 |
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Alvarium Capital Partners |
Alex Davies |
Tel: +44 (0) 207 195 1433 |
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This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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