Heads of Terms Signed with Makeabl

Visum Technologies PLC

04 June 2024

 

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

04 June 2024

VISUM TECHNOLOGIES PLC
("Visum" or the "Company")

Heads of Terms Signed for a License Agreement with Makeabl

Visum Technologies Plc (AQSE: VIS), a video capture technology company with a global focus on the leisure sector, is pleased to announce that it has entered into exclusive non-binding Heads of Terms ("HoT") for a license agreement with Makeabl Limited, a company based in the Hong Kong, ("Licensor"). The licensor will grant Visum the exclusive Software Licensing rights of the Licensor's technology (the "Technology") for the territories of the North American and European markets ("Territories") ("Proposed LicenseAgreement"). The companies aim to complete the Proposed Licence Agreement on or before 30 June 2024 and, following completion, exclusivity over the Technology in the Territories has been granted until 3 December 2024.

Established in 2021, Makeabl offers end-to-end cloud/App based technology that allows guests at any attraction to receive, process and download image and video content. Using Facial Recognition, AI and Image Processing the platform ensures guests can receive any type of content pre/post their visit.

The completion of the Proposed License Agreement is subject to (i) both parties completing their due diligence processes; (ii) entry into a legally binding license agreement ("the Agreement"); and (iii) board approval. A further announcement will be made in due course.

Marc Dixon, CEO of Visum, commented:

"We are thrilled to announce the heads of terms for the license agreement with Makeable. The access to Makeabl's software technology will provide Visum access into markets that our current platform cannot and enable Visum to deliver innovative capture technology, further enhancing our commitment to providing exceptional solutions to our valued customers."

The directors of Visum accept responsibility for this announcement.

ENDS

About Visum Technologies

Visum Technologies Plc (AQSE: VIS) is a capture technology firm primarily focusing on the global leisure market. Their mission is revolutionizing capture technology, initially targeting specialized niches within the leisure industry. Visum captures, generates, and distributes branded, real-time digital content. They do this through a combination of proprietary hardware and software solutions that can be distributed and shared on all leading social media platforms. Whenever Visum identifies complementary technologies that can enhance its core offerings, expand its global presence, or facilitate entry into new markets, they are open to partnerships or acquisitions. For more information, please visit www.visumtechnologies.net.

For further information, please contact:

Visum Technologies Marc Dixon, Chief Executive Officer	[e-mail] 011 [phone]
First Sentinel Corporate Finance Limited (AQSE Corporate Adviser) Brian Stockbridge	[e-mail] [phone]

 

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