Immotion Group (LON:IMMO)

Immotion Group (LON:IMMO)


Share Price
7.75 p
Change
0 (0.00 %)
Market Cap
£19.40 m
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Immotion Group RNS Release

Result of General Meeting


RNS Number : 6076R
Immotion Group PLC
01 March 2019
 

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

 

1 March 2019

 

Immotion Group plc

("Immotion Group", the "Company" or "the Group")

Result of General Meeting

 

Immotion Group plc, the UK-based immersive virtual reality ("VR") 'Out of Home' entertainment business, is pleased to announce at its General Meeting held earlier today all resolutions were duly passed.

 

Accordingly the Company has today issued 54,999,994 new ordinary shares (the "New Ordinary Shares") at a price of £0.06 per Placing Share raising gross proceeds of £3.3m through a placing (the "Placing") and subscription (the "Subscription") with institutional and other investors.

 

The full details of the Placing and Subscription are set out in the announcement dated 5 February 2019.

 

Admission to Trading on AIM

 

Further to the announcement on 5 February 2019, application for admission to trading of the New Ordinary Shares has been made and it is anticipated that Admission will take place on 6 March 2019 ("Admission"). The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

 

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the Placing and Subscription its issued share capital will comprise 250,351,584 Ordinary Shares of no par value upon Admission. All of these Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in treasury. The total number of voting rights in the Company will therefore be 250,351,584 upon Admission.

 

Unless otherwise defined, terms used in this announcement shall have the same meanings as those defined in the circular to shareholders dated 6 February 2019

 

Immotion Group

Martin Higginson

Tel: +44 (0) 161 235 8505

WH Ireland Limited

(Nomad and Joint Broker)

Adrian Hadden

Jessica Cave

 

Tel: +44 (0) 207 220 1666

Shard Capital Partners LLP

(Joint Broker)

Damon Heath

Erik Woolgar

Tel: +44 (0) 20 7186 9900




Newgate Communications (Financial PR)

Elisabeth Cowell

Robin Tozer

 

Tel: +44 (0) 20 3757 6880

[email protected]

 

 

About Immotion Group:

 

Immotion Group, co-founded by Martin Higginson and David Marks in 2017, 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:

·    Sales - sale of VR motion platforms to leisure and entertainment operators provide the opportunity for the operator to drive substantial ancillary revenues

·    Concession partners - currently installed at a range of outlets including Merlin Entertainments' LEGOLAND® Discovery Centres - this channel provides an opportunity for its partners to earn ancillary revenues, as well as providing an exciting additional attraction to their facilities

·    Immotion operated experience centres, trading as ImmotionVR, located in high footfall locations such as shopping centres

 


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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