Immotion Group (LON:IMMO)

Immotion Group (LON:IMMO)


Share Price
6.30 p
Change
-0.05 (-0.79 %)
Market Cap
£15.77 m
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Immotion Group

Immotion Group aims to become a market leader in the western market sector of the “Out of Home” virtual reality market, through its “Create, Publish and Distribute” model, with the objective of creating recurring revenues from a large installed base of Virtual Reality (“VR”) Motion Platforms.

The Group combines its Virtual Reality content and Motion Platform hardware to offer consumers...

EPIC: IMMO
Market: AIM:IMMO
52-week High/Low: 15.39p / 4.50p
Sector: Tech
Market Cap: £15.77 m
Website: immotion.co.uk
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Martin Higginson of Immotion (LON:IMMO) virtual reality leisure experiences pitches the company to investors. For more information, visit www.immotion.co.uk

Big Picture – A Deep Dive Examination of Immotion Group


Immotion Group Snapshot

We bring together world-class CGI experts, award-winning content creators, amazing storytellers and state-of-the-art motion platform technology to provide customers with immersive ‘out-of-home’ VR experiences.

Formed from the merger of Studio Liddell – a Manchester-based CGI studio, and C2K –  Los Angeles based filmmakers, Immotion combines over 40 years of experience in storytelling, content creation, advertising, art direction and communications.

We are the writers, the producers, the directors, the strategists and the marketing experts. We are the creators, with each member of our dedicated team bringing unique creative skills and ideas to the table. From our humble beginnings in 1996, we’ve always been at the cutting edge of technology, animation and virtual reality. And at our core, we’ve always been focused on creating the highest-quality content for every kind of experience.

Our fully immersive platforms deliver incredible virtual reality content, with stunning wrap around sound and multi-directional movement. Each self-contained pod maximises floor space, is easy to set up and can be branded to your location.

VR CINEMA POD
VX1
Operations

Building on the classic functionality of the global best-selling Moon Chair VR Cinema Pod, the VX1 combines two individual bucket seats to create a unique, immersive environment. Fully upgraded with state-of- the-art technology, the VX1 offers a minimal footprint to maximise floor space. Combine multiple units into a single network to create a cost- effective VR Cinema Zone.

VR CINEMA POD
VX2
Operations
With a sleek, fully enclosed design, the VX2 stands out as a stunning Virtual Reality pod. It’s equipped with the latest, cutting-edge motion platform technology and integrated, omni-directional stereo sound. Straight edges and flat panels ensure the VX2 can be easily customised for your brand or your themed visitor attractions. Just add decals to create a truly immersive experience.

VR CINEMA POD
VX3
Operational
Sleek and stylish, the VX-3 combines the latest in VR Cinema motion technology into a compact footprint. Ideal for locations with height restrictions, multiple VX-3 systems can be networked together to create a single operator VR Cinema Zone.

GX2
Operational
Space cannon design upgrade of the popular GX1. Packing all the same punch of the GX1, the GX2 is designed as a better fit for children friendly locations. Operator assisted, a single operator can comfortably operate 6 machines.Supplied with two games. The system must be connected to the internet to ensure latest firmware and access remote technical support.

GX1
Operational
Fully immersive big gun shoot-em-up experience. Take down enemy ships, foil a terrorist attack or battle hoards of zombies with the VR Fire’s rumble equipped Gatling gun. Operator assisted, a single operator can comfortably operate 6 machines. Supplied with one free game, with another two premium games available. The system must be connected to the internet to ensure latest firmware and access remote technical support.

EX1
Operational
Designed for longer duration VR Free Roaming experiences up to 20m2 , the EX1 tracks the players position via onboard sensors. The free roaming capabilities allow for fully immersive VR exploration via a diverse selection of games. Networkable for multiplayer gameplay. Operator assisted, a single operator can comfortably operate 6 machines. Ten premium games available from 10p per minute. System must be connected to the internet to ensure latest firmware and to access remote technical support. Now compatible with Springboard VR.

CX1 RACER
Operational
4 way network capabilities allow guests to race against each other. Force feedback mechanics and steering controlled motion guarantee realistic gameplay, delivered in an attractive modern design.

VX6 MULTIPLAYER
Operational
Designed for larger locations the VX6 supports a maximum of 6 players. Equipped with multi-directional guns the VX6 allows for multi-player interactive shooting games as well as being compatible with VX1, 2, and 3 experiences.

RX1
Operational
4 way network capabilities allow guests to race against each other. Force feedback mechanics and balance controlled motion guarantee realistic game play, delivered in an attractive modern design.

KX1
Operational
The KX1 is specially designed for children aged 4 to 8. Riding on the back of the flying Dragon whilst viewing the landscape through a VR Headset results in a fantastic introduction to VR.

EASY-TO- USE CONTENT MANAGEMENT
The Immotion Software Platform is a proprietary set of tools designed to assist our customers. Our reliable and intuitive content & hardware management platform gives you complete control of experiences & analytics from anywhere in the world.

Intuitive web based interface enables one click installation of games across the entire network of machines. The system allows the purchase of credits as well as licensing of games and experiences. Thanks to the advanced analytics tools Immotion customers can make data driven decisions and act on current consumer trends. The system also offers an advanced set of ‘marketing tools’ allowing operators to change the display on the terminals, whether this be pricing information, or marketing videos. For Content creators, the “Content Creation” functionality provides each developer with the Immotion Software Development Kit (SDK), compatible with Unity and Unreal game engine. When developers are producing experiences for the Immotion VR Cinema Pods the SDK allows them to sync the visual element with that of the motion platform in a precise manner.








 

Manchster, Los Angeles, Dubai & Tokyo.

Martin Higginson
Chief Executive Officer

Martin is a seasoned Technology, Media and Telecoms (TMT) entrepreneur. He has set up sold and listed multiple businesses. His first business, a BMX magazine, was sold to IPC Magazines in 1982. Following three years with IPC he left to set up his own publishing and telecoms business Megafone. This was subsequently sold to Scottish Power plc. During his time with Scottish Power he joined its subsidiary, Scottish Telecom, as Managing Director of the Internet and Interactive division, including Internet ISP Demon Internet. Following the flotation of Thus plc (formerly Scottish Telecom) Martin moved on to establish Monstermob Group Plc which listed on AIM in 2003. Over a three year period it grew to become a Top 50 AIM listed business with a market capitalisation of £192m. This business was sold to Zed Worldwide in late 2006. Martin has subsequently founded a range of businesses including Cityblock plc, a luxury student accommodation business which was privatised and sold to management in 2009; NetPlayTV plc, an interactive TV gaming business which boasted exclusive partnerships with Virgin Media, Channel Five, and ITV; and Digitalbox, a digital media business. Digitalbox was ranked as a FastTrack 100 Company in 2016 and 2017. Martin has also held Non-Executive Director positions with Legend plc and Cupid plc.

David Marks
Group Finance Director

David began his career with Arthur Andersen in its corporate recovery & restructuring department, during which time he was involved in some of the largest and most complex restructuring assignments in the UK at the time. David then pursued a career in corporate finance and M&A, initially with UBS and latterly with Deutsche Bank. In 2001 David was appointed as a Partner and was responsible for making private equity investment at Nikko Principal Investments Limited, the European Principal Finance arm of Nikko Cordial, one of Japan’s largest securities businesses. David subsequently joined Monstermob Group plc, initially as a Non-Executive Director and subsequently as Group Finance Director. He steered the Company as it rapidly expanded internationally across Europe, USA and Asia. David has an honours degree in Law from the University of Glasgow and is a member of the Institute of Chartered Accountants of Scotland.

Rodney Findley
Group Commercial Director

Rodney has over 20 years’ experience as a director, writer and creative director and has won a range of awards for his creative work. He has a Bachelor of Arts degree from McGill University in Montreal and an MFA in Film at USC. He is founder and CEO of C2K, which was acquired by Immotion Group in X. Thanks to his strong reputation for creating narratives and engaging consumers using pioneering technology, Rodney has delivered campaigns (broadcast, digital and print) for major brands such as Toshiba, Sony, Guthy-Renker and Canon. International broadcasters NHK and WoWoW have broadcast his long-form documentary and narrative work. Rodney is now harnessing the power of virtual reality and recently completed projects on behalf of Toyota and AbbVie.

Ian Liddell
Group Creative Director

Ian has over 25 years’ experience in creating cutting edge storytelling and TV. He is the founder and CEO of Studio Liddell, a multi-award winning creative production studio acquired by Immotion Group and played a key role in the growth of the company. The Company delivers CGI, cut-scene animation, VR and AR, 4D and interactive content. The quality of the studio’s work has cemented Studio Liddel’s reputation as a highly innovative studio, helping to attract a client base comprised of major global businesses such as Pfizer, Merck, Saatchi Health and Digitas. Notable productions include Ranger Rob for Nelvana, Canada, Let’s Play! for Zodiac Entertainment & BBC, Cloudbabies for Hoho Entertainment & BBC. Ian also is an elected council member of Animation UK and sits on the All Party Parliamentary Group (APPG) on Trade.

Sir Robin Miller
Non-Executive Chairman

Robin has extensive PLC experience spanning many years, particularly in the media sector. He was formerly Chief Executive (1985-1998 and 2001-2003) and Chairman (1998-2001) of Emap plc, a leading international media group in consumer and trade publishing, commercial radio, music TV channels and events. Robin is currently Non-Executive Chairman of Edge VCT and social video company Brave Bison. Additionally he holds the role of Non-Executive Director of Premier Sports Holdings Plc, Gemini Network Media Ltd, Crash Media Group Ltd, Digital Group Ltd, Gruppo Media Ltd, Bikesportnews.com and a Trustee of the Golf Foundation.

Nicholas Lee
Independent Non-Executive Director

Nicholas has extensive capital markets experience and is actively involved in AIM. Having read Engineering at St. John's College, Cambridge, he commenced his career at Coopers & Lybrand where he qualified as a chartered accountant. He joined Dresdner Kleinwort, where he worked in the corporate finance department advising a range of companies across a number of different sectors. When he left in 2009, he was a Managing Director and Head of Investment Banking for Dresdner Kleinwort's hedge fund/alternative asset manager clients. He now holds a number of directorships of public companies.

Daniel Wortley
Head of Group Finance and Company Secretary

Daniel qualified as a Chartered Management Accountant in 2007 and was one of the first employees at Monstermob Group plc. As the company grew from a privately held start-up into a global PLC, he held various roles including UK Financial Controller and Group Accountant. He went on to follow Martin Higginson from Monstermob to NetPlay TV plc as Group Financial Controller where he oversaw the finance, business information and e-commerce departments. In addition, Daniel has been Head of Finance at Studio Liddell since 2014. He has been a key part of the management team, overseeing substantial growth and the evolution of the business into Immotion.

Artur Grzybowski
Chief Technology Officer

Artur has played a key role in Immotion’s development, leading multi-disciplinary teams to deliver advanced software packages and progressive hardware improvements. He previously worked at Jaguar Land Rover and Dassault Systems, where he held lead technical roles within their Virtual Reality software departments. He built a 360 Camera Headset and also founded Virtualspeech , which has a userbase of over 200,000 accounts. Notably, he also supported the NHS in its programme to implement Virtual Reality rehabilitation practices.

Ken Musen
Exec Producer US

Ken Musen is a three-time Emmy-award winning Producer/Director for the television documentary series “Imagine.” He is the co-founder of C2K Communications and has 30 years of experience creating documentaries, commercials and VR experiences. A graduate of both Stanford University and USC’s School of Cinematic Arts, his interest in telling compelling stories has taken him around the world. Ken's commercial and documentary work has earned him over 30 Telly Awards and five Davey Awards, as well as an International Health & Medical Media Award and awards from the American Advertising Federation, the Public Relations Society of America and the Los Angeles “ADDY”.

Fiona York
Head of Production

Fiona has a breadth of VFX and CGI production experience at Head of Production level. She has been part of award-winning documentary and animated series for major broadcasters such as BBC, Channel 4, ITV, Channel 5, National Geographic and Discovery Channels. Commencing her career at BBC North in live television production and subsequently managing the production of the graphics department there, Fiona was head hunted by a ground-breaking CGI and VFX facility as their Head of Production Throughout her career Fiona has also worked at a major feature film company as a producer and she also established and ran a boutique VFX television and film facility along with two other business partners. Fiona has worked at Immotion Studios in a Head of Production role since 2016.

Paul Collimore
Head of Sales

Paul has extensive sales experience, particularly in the technology, leisure and entertainment sectors, and has an impressive network. His passion for high technology saw him appointed as Group Global Sales & Operations Director for Inertial Motion Capture manufacturer Synertial (formally Animazoo Group). As well as diversifying Synertial’s core technology, Paul spearheaded the Animalive division which focussed on interactive out of home experiences for the themed attractions industry. He was responsible for the firm’s relationships with clients such as NASA, Warner Bros, Bourne Leisure, Merlin Entertainments and a host of family entertainment centres and theme parks. During this period, the Animalive brand won 2 IAAPA Best New Product awards for products that Paul co-invented and bought to the market. Previous to his current role, Paul was Commercial Director for Interactive Design and Animation software development company Digimania Ltd.

Peter Caddock
Director of VR

Peter has acquired a unique breadth of experience over almost four decades of designing, developing and producing bespoke, interactive software solutions and entertainment experiences for a variety of clients and audiences. His work has gained him multiple awards. He commenced his career as an applications and games developer and has also worked as a broadcast film and VT editor working on regional and national television series. His talent for developing and designing content and experiences has seen him deliver entertainment, games, training and education, advertising, IP/brands and simulations for such clients as Merck Pharmaceutical, American Genetics (AMGEN), Saatchi Health, Digitas, AstraZeneca, the National Space Centre, the Science Museum, THQ, CBBC, the Royal Institute, Great Britain Museum and York Museum. In terms of VR, Peter developed a hybrid PC-based VR headset with gyroscopic tracking for a historical educational project as far back as 2003. He has been part of the Studio Liddell team for fourteen years, becoming Head of New Technologies in 2008 and Director of VR for Immotion in 2018. Peter has a Bachelor of Arts degree in Audio Visual Communications from Manchester Victoria University and a Certificate of Education in Drama and English.

Shareholder Information

The Company’s issued share capital, as at 12th July 2018, consists of 195,351,590 ordinary shares with a nominal value of 0.040108663p each (“Ordinary Shares”). Insofar as the Company is aware, the percentage of securities that is not in public hands is 64.00%, these being held by directors and significant shareholders.

A list of Significant Shareholders and the percentage of their holdings is set out below:

 

Significant Shareholders

Name No. of Ordinary Shares held Percentage of issued share capital
Martin Higginson 23,109,514 11.83%
Leonie Dobbie 12,633,607 6.47%
Unicorn AIM VCT 10,000,000 5.12%
David Marks 9,767,580 5.00%
Rod Findley 9,501,016 4.86%
Sure Ventures Plc 8,043,002 4.12%
Ken Musen 7,592,251 3.89%
Cavendish Asset Management - AIM Fund 7,500,000 3.84%
Octopus AIM VCT Plc 7,500,000 3.84%
Sam Higginson 7,373,171 3.77%

 

MANCHESTER

The Victoria
Media City
Manchester
M50 3SP
+44 161 235 8505

LOS ANGELES

1067 Gayley Avenue
Los Angeles
CA90024
+ (310) 208 2324

DUBAI

Concord Tower, 6th Floor,
Dubai Media City,
PO.Box. 126-732,
Dubai – UAE
+971.4454.9709

TOKYO

1-10-12 #3 Kami-Osaki,
Shinagawa-ku,
Tokyo 141-0021
+81.3.6450.2125

Advisors

Nominated Advisor
WH Ireland Limited
24 Martin Lane
London EC4R 0DR

http://www.whirelandplc.com

Broker
WH Ireland Limited
24 Martin Lane
London EC4R 0DR
http://www.whirelandplc.com

Broker
Shard Capital Partners LLP
23rd Floor, 20 Fenchurch Street,
London EC3M 3BY
http://www.shardcapital.com

Auditors
Moore and Smalley LLP
Priory Close
St Mary’s Gate
Lancaster LA1 1XB
http://www.mooreandsmalley.co.uk

Reporting Accountants
haysmacintyre
10 Queen Street Place
London EC4R 1AG
http://www.haysmacintyre.com

Legal Advisors
DWF LLP|
Central Square South
Orchard Street
Newcastle upon Tyne NE1 3AZ
http://www.dwf.law

Legal Advisors USA
Dorsey & Whitney LLP
600 Anton Boulevard, Suite 2000
Costa Mesa
CA92626 USA
http://www.dorsey.com

Registrars
Neville Registrars Limited
Neville House
Steelpark Road
Halesowen B62 8HD
http://www.nevilleregistrars.co.uk

Financial PR
Redleaf Polhill Limited
Sky Light, City Tower
50 Basinghall Street
London EC2V 5DE
http://www.redleafpr.com

Investor contact
For Company related Investor enquiries, please contact

[email protected]

Investor Relations
WH Ireland

0207 220 1666
Media Relations
Redleaf PR

0203 757 6880

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