EVR Holdings PLC Content & distribution agreement with Warner Music (5455S)
22 Dicembre 2016 - 8:00AM
UK Regulatory
TIDMEVRH
RNS Number : 5455S
EVR Holdings PLC
22 December 2016
For Immediate Release 22 December 2016
EVR Holdings plc
('EVR' or the 'Company')
Warner Music Inc. signs global VR content and distribution
agreement with MelodyVR and simultaneously receives entitlement to
subscribe for 43,239,926 million shares in EVRH at 4.25p per
share
Agreement further strengthens EVR's position at the forefront of
global virtual reality content creation
EVR Holdings plc (AIM: EVRH), a leading creator of virtual
reality ('VR') music content, is pleased to announce that its
subsidiary MelodyVR Ltd ('MelodyVR') has signed a VR content
creation and distribution agreement with Warner Music Inc. and WEA
International Inc. (collectively, 'Warner'). Warner, one of the
three largest record companies in the world, reported digital sales
in 2015 of US$1.24 billion and owns and operates a number of
successful record labels including Atlantic Records, Parlophone
Records and Warner Bros. Records.
The framework agreement is intended to facilitate the creation
and distribution of Virtual Reality content featuring Warner
artists. As part of the relationship, MelodyVR will receive the
right to distribute both live and pre-recorded content created with
Warner artists via its music platform for an exclusive period,
followed by a period of joint-exploitation by both parties.
The Company is also pleased to announce that Warner Music Inc.
will, in addition, receive an entitlement to subscribe for
43,239,926 ordinary GBP0.01 shares in EVR Holdings PLC, exercisable
until the 5(th) anniversary of today's date, at an exercise price
of 4.25p.
The content and distribution agreement will enhance Melody's
distribution capabilities with respect to its extensive content
library.
Anthony Matchett, CEO of EVR Holdings, said: "Entering into a
framework agreement with one of the world's leading rights holders
in music is a significant milestone for MelodyVR and I'm delighted
to announce that we've signed a virtual reality creation and
distribution agreement with Warner. The agreement aims to
streamline the creation and distribution of virtual reality content
featuring Warner artists and also unlocks a substantial portion of
our existing content library for commercial exploitation. Warner
Music represents a number of the world's most recognised artists
and over the coming years we are looking forward to creating even
more content with their outstanding roster of talent. We believe
that Warner's request to subscribe for 43,239,926 shares shows both
their confidence and conviction in the enormous potential of
virtual reality as well as in the long-term success of EVR Holdings
and the MelodyVR platform. We look forward to working even more
closely with Warner Music moving forwards. "
- 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
Ben Romney / Jamie Hooper Tel: +44 (0) 20 7466
Stephanie Watson / Catriona 5000
Flint
EVR@buchanan.uk.com www.buchanan.uk.com
Notes to Editors:
MelodyVR
MelodyVR is a wholly owned subsidiary of EVR Holdings plc
('EVR'), a company that is listed on the AIM market of the London
Stock Exchange under the ticker EVRH.L. EVR, a creator of virtual
reality content, joined AIM on 16 May 2016 following a reverse
takeover of Armstrong Ventures plc.
The Company has successfully built a VR content library of over
500 globally-renowned artists as well as having secured a number of
long-term partnerships, obtaining exclusive recording rights for
the creation and distribution of VR content across a total of 58
worldwide event properties and music venues. Further information
can be viewed at www.evrholdings.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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December 22, 2016 02:00 ET (07:00 GMT)
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