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: [phone]
WH Ireland Limited (Nomad and Joint Broker)	Adrian Hadden Jessica Cave	Tel: [phone]
Shard Capital Partners LLP (Joint Broker)	Damon Heath Erik Woolgar	Tel: [phone]
Newgate Communications (Financial PR)	Elisabeth Cowell Robin Tozer	Tel: [phone] [e-mail]

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

 

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