EVR Holdings PLC Result of AGM (1550B)
14 Giugno 2016 - 1:15PM
UK Regulatory
TIDMEVRH
RNS Number : 1550B
EVR Holdings PLC
14 June 2016
For immediate release 14 June 2016
EVR Holdings plc
('EVR' or the 'Company')
Result of Annual General Meeting
EVR Holdings plc (AIM: EVRH), a creator of virtual reality
content, is pleased to announce that at the Company's Annual
General Meeting held earlier today, all resolutions put to the
meeting were duly passed.
- Ends -
For further information:
EVR Holdings plc
Sean Nicolson, Chairman Tel: +44 (0) 20 7466
5000
Anthony Matchett, Chief www.EVRHoldings.com
Executive Officer
SPARK Advisory Partners Limited (Nominated
Adviser)
Neil Baldwin / Sean Wyndham-Quin Tel: +44 (0) 203 368
3550
www.sparkadvisorypartners.com
Peterhouse Corporate Finance Limited (Broker) Tel: +44 (0) 20 7469
0930
Eran Zucker / Lucy Williams www.pcorpfin.com
Media enquiries:
Buchanan
Henry Harrison-Topham / Stephanie Tel: +44 (0) 20 7466
Watson / Catriona Flint 5000
EVR@buchanan.uk.com www.buchanan.uk.com
Notes to Editors:
MelodyVR was incorporated on 22 April 2015 by Anthony Matchett
and Steven Hancock. It was formed to capitalise on the expected
wave of virtual reality hardware scheduled for release during 2015
and 2016. Recognising that a significant investment had been made
in Virtual Reality ('VR') hardware, but that there was only a
limited amount of forthcoming VR content in late 2014, the founders
began building an end-to-end VR content production and distribution
business. The founders' vision and consumer proposition is to allow
music fans to experience a music event or concert, via VR. MelodyVR
believes that its proposition will appeal to many music fans that
are unable to attend a live event due to geographical or financial
constraints, age restrictions or simply due to an event being sold
out.
MelodyVR has developed technologies, products and services that
enable users to consume immersive VR music experiences. The
business has developed, using commercially available parts, 360
degree cameras that record audio-visual material for the purposes
of capturing the performances which occur at live music events.
This includes the live performances themselves, as well as
additional backstage and interview content.
MelodyVR currently holds a number of contracts with music brands
and event partners granting it exclusive rights to create and
exploit 360 degree/VR content for a period of five years or more.
MelodyVR has developed a proprietary post-production workflow that
enables the aforementioned recorded material to be processed into
360 degree panoramic content. It is intended that this material
will then be exploited via various distribution channels and
monetisation models, including through the MelodyVR App which has
been designed by the team at Immersive, MelodyVR's subsidiary.
VR has seen a resurgence over the last three years since the
initial technology became available in the 1980s. Consumer and
investor interest in VR was reignited by Palmer Luckey's
Kickstarter campaign for the Oculus Rift (DK1). Palmer Luckey's
garage start-up, Oculus VR LLC, was subsequently acquired by
Facebook Inc. for US$2 billion in 2014 and its first consumer
product, the Oculus Rift, launched on 28 March 2016.
Google released its own Head-Mounted Display ("HMD"), the Google
Cardboard, in 2014. Google announced that, in the year and a half
since its release, 5 million headsets have been sold, along with
over 25 million downloads of VR enabled apps from its store. Other
manufacturers have also entered the market. Samsung's headset, the
Gear VR (which utilises Oculus technology) works with the latest
generation of Samsung smartphones and is now being shipped free of
charge with all pre-orders of their flagship smartphone, the Galaxy
S7. HTC released its own Oculus Rift competitor, the HTC Vive, in
early April 2016. HTC stated more than 15,000 units were sold in
the first 10 minutes when pre-orders for the Vive opened on 29
February 2016. Sony has announced that it will release its headset,
the PlayStation VR, in October 2016.
Market research indicates that, following the launch of HMD
devices, the market is likely to expand rapidly. According to Kzero
Worldwide's VR Market Sizing report (Q3 2014), HMD unit sales are
forecast to grow from 200,000 in 2014 to 38.8 million in 2018 with
cumulative unit sales estimated to reach 83.1 million by 2018. This
report states that HMD revenues are estimated to grow from US$70
million to US$3.8 billion annually over the same period. Goldman
Sachs has predicted that the market for recorded videos and live
events alone could reach US$7.3 billion by 2025 with over 175
million users. According to the Virtual Reality Consumer Survey
published by Greenlight VR and Touchstone Research in October 2015,
85% of gaming enthusiasts across all gaming platforms (mobile, PC,
game systems and consoles), are expected to try VR.
MelodyVR believes that the market research and significant
investment from some of the world's leading technology businesses
are reasonable indicators of the potential scale of the VR market
over the coming years.
- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
END
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June 14, 2016 07:15 ET (11:15 GMT)
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