EVR Holdings PLC Option Exercise valuing the Company at £220m (7626Y)
06 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMEVRH
RNS Number : 7626Y
EVR Holdings PLC
06 January 2020
EVR Holdings plc
("EVR" or the "Company")
Partial Option Exercise valuing the Company at GBP220m
EVR Holdings plc (AIM:EVRH), the leading creator of virtual
reality entertainment content and operator of the MelodyVR
platform, is pleased to announce that the John Gore Bahamas Ltd
("JGB") has partially exercised its option to subscribe for
4,997,041 new ordinary shares at a price of 15.3p per share
("Subscription Shares"), representing a significant premium to the
Company's current mid-market share price, which values the
Company's issued equity share capital at approximately GBP220
million. The aggregate gross proceeds of the exercise amount to
$1,000,000.
In recognition of this significant endorsement by a valued
investor and strategic partner, the Company has extended the
exercise period for this residual option by a further 2 years until
31 December 2021, at which time it will automatically lapse if not
exercised. In exercising this option, JGB increases its holding in
the Company to 8.38% of the Company's issued share capital.
Application has been made for the admission of the Subscription
Shares to trading with effect from 9 January 2020. Following the
admission of the Subscription Shares, the number of Ordinary Shares
in issue will be 1,433,660,237. This figure may be used by
shareholders as the denominator in the calculation by which they
determine if they are required to notify the Company of their
interest (or any change in their interest) in the company under the
Financial Conduct Authority's Disclosure and Transparency
Rules.
For further information please contact:
EVR Holdings plc
Anthony Matchett, Executive Chairman & CEO email@evrholdings.com
Arden Partners plc: Nominated Advisor and Sole Broker Tel: +44 (0) 20 7614 5900
Corporate Finance: Ciaran Walsh / Ruari McGirr / Ben Cryer
Corporate Broking: Simon Johnson
About MelodyVR:
MelodyVR launched in 2018 with a simple mandate: not to replace
the live experience, but to harness the power of virtual reality to
get people closer to the music they love.
By using VR technology, the founders realised that they could
place fans in the crowd or on -stage with their favourite musicians
at live events. From epic stadium shows to intimate studio
performances, the possibilities are endless; capacity restrictions
are eliminated, music fans can attend otherwise sold-out dates, and
the barriers (distance, age, cost, access) that might keep people
from experiencing their heroes live are swept away. The result?
Artists can reach more fans than ever before with a level of
intimacy which has previously not been possible.
MelodyVR is the only licensed VR music platform and has the
world's largest library of exclusive immersive and interactive
music experiences from the likes of Post Malone, Blake Shelton, Wiz
Khalifa, Kelly Clarkson, Niall Horan, Fall Out Boy and Imagine
Dragons.
Available on smartphones and VR headsets, the MelodyVR app can
be downloaded at
on.melodyvr.com/App
www.melodyvr.com @melodyvirtual
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 rns@lseg.com or visit www.rns.com.
END
IOEUVRVRRNUARAR
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January 06, 2020 02:00 ET (07:00 GMT)
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