TIDMVRE
RNS Number : 1881N
VR Education Holdings PLC
23 September 2019
For immediate release 23 September 2019
VR Education Holdings plc
('VR Education' or the 'Group')
Interim Results
VR Education (AIM: VRE; ESM: 6VR), a leading virtual reality
('VR') technology company focused on the education space, today
announces its interim results for the six months ended 30 June 2019
(the 'Period' or 'H1 2019').
Financial Highlights
-- Revenue up 66% to EUR497k (H1 2018: EUR300k)
-- Revenue accelerated during H1 2019 and the Group is currently
on track to meet FY 2019 expectations with a new Showcase
Experience 'Shuttle Commander' due for release in Q4 2019
-- In line with management expectations the EBITDA result was
unchanged at a loss of EUR0.9m (H1 2018: loss of EUR0.9m)
-- In line with management expectations the loss before tax was
EUR1.2m, a significant improvement on last year (H1 2018: loss of
EUR4.1m, including EUR2.9m non-cash items)
-- Net cash 30 June of EUR2.2m and Friday 20 September of EUR1.9m
-- Loss per share for the period of EUR0.01 (H1 2018: EUR0.02)
Operational Highlights
-- Commercial deals entered into with a number of parties on the ENGAGE platform
-- Apollo 11 VR educational experience selected to be part of
the launch collection for Oculus Quest, Oculus' new all-in-one VR
headset
-- Commercial agreement entered into with U.S. Space and Rocket
Center in Huntsville, Alabama, one of the top aviation and
aerospace museums in the USA and Alabama's top paid-for tourist
attraction, for use of the Group's Apollo 11 VR experience in a
major new attraction to celebrate the 50th anniversary of the moon
landing
David Whelan, CEO of VR Education, said: "With an acceleration
in revenue growth from the Group's experiences and with the release
of new consumer-focused XR (encompassing virtual reality, augmented
reality and mixed reality) standalone devices such as the Oculus
Quest and HTC Vive Focus this year, VRE is now starting to see
increased traction of its ENGAGE platform in the US and Asia.
We have always had a global outlook for our products and the
technology they run-on, and with Brexit uncertainty we have
concluded that our success in US and Asian markets will receive
greater focus than the UK market. We are already receiving an
increasing number of requests from American and Asian corporate
customers to work with them to produce content for VR training
programmes. Indeed, we are both focused and geared-up to aim for
this marketplace.
In May 2019, the Group signed a revenue share agreement with the
U.S. Space and Rocket Center, one of the top aviation and aerospace
museums in the USA and this has generated significant monthly
revenue starting late Q2 2019. The Group's outlook is positive as
it seeks to grow the ENGAGE platform revenues while reducing its
reliance on showcase experiences in the future."
Investor and Analyst Meeting
A meeting for analysts will be held at 11.00 a.m. today at the
offices of Buchanan, 107 Cheapside, London EC2V 6DN. A copy of the
Interim Results presentation is available at the Company's website,
http://www.vreducationholdings.com
An audio webcast of the analysts' meeting will be available
later today:
https://webcasting.buchanan.uk.com/broadcast/5d7f44131e79456d8fcc52bb
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
- Ends -
For further information, please contact:
VR Education Holdings plc Tel: +353 87 665 6708
David Whelan, CEO contact@vreducationholdings.com
Sandra Whelan, COO
Cairn Financial Advisers LLP (Nominated Tel: +44 (0) 20 7213
Adviser) 0880
James Caithie / Liam Murray / Ludo
Lazzaretti
Shore Capital (Joint Broker) Tel: +44 (0) 20 7408
Andy Crossley / Richard Johnson 4090
Davy (Joint Broker & Euronext Growth Tel: +353 1 679 6363
Advisor)
Fergal Meegan / Ronan Veale / Barry
Murphy
Buchanan (UK Financial PR) Tel: +44 (0)20 7466 5000
Henry Harrison-Topham / Chris Lane VRE@buchanan.uk.com
/ Tilly Abraham
Notes to Editors
VR Education, together with its wholly owned subsidiary, is an
early stage VR software and technology group based in Waterford,
Ireland, dedicated to transforming the delivery methods of
education and corporate training by utilising VR technologies to
deliver fully immersive virtual learning experiences. The Group's
core focus is the development and commercialisation of its online
virtual social learning and presentation platform called ENGAGE,
which provides a platform for creating, sharing and delivering
proprietary and third-party VR content for educational and
corporate training purposes.
In addition to the ongoing development of the ENGAGE platform,
the Group has also built two downloadable showcase VR experiences,
being the award-winning Apollo 11 VR experience and the Titanic VR
experience.
On 12 March 2018, VR Education listed on the AIM market of the
London Stock Exchange and on the Enterprise Securities Market, a
market regulated by Euronext Dublin. For further information,
please visit www.vreducationholdings.com.
Chief Executive's Review
I am pleased to report VR Education's interim results for the
six-month period ended 30 June 2019 (the 'Period' or 'H1
2019').
H1 2019 has been a period of steady growth, progress and
learning. H1 2019 revenues increased by 66% to EUR497k, largely
driven by the ongoing success of the Group's previously released
showcase experiences such as Apollo 11 VR and Titanic VR, which
have sold well on a range of different platforms.
The increasing demand for the Group's showcase experiences is in
line with the steady increase in adoption rates of VR, AR
(augmented reality) and XR (cross reality) technologies as they
become more mainstream. Apollo 11 VR was selected as a launch title
on the Oculus Quest headset and demand for the title has been in
line with expectations. HTC, the manufacturer of the Vive Focus
standalone headset which is focused on the education and enterprise
markets, continues to increase its presence in the EU and Asia.
ENGAGE
ENGAGE continues to grow and develop and, in June 2019, the
Group completed the development of the stand-alone version of the
platform for the Oculus Quest, which is now available to download
via the Group's website. The Group is now completing work on
delivering ENGAGE on HTC's standalone headset, the Vive Focus,
which is focused on the education and enterprise markets, and
continues to work closely with HTC as it increases its presence in
the EU and Asian markets, to work together to deliver competitive
and compelling offerings.
The commercialisation of ENGAGE has started with the signing of
its first commercial clients since its release during the Christmas
period in 2018, including an agreement with D'Carrick Co. Ltd. in
South Korea in May 2019. In the current climate, however, the UK
market spending on new technology in the education and training
sectors has significantly reduced and, accordingly, the Group has
moved its UK business development and marketing presence to refocus
its efforts on the US and Asian markets, where there is early
traction with the adoption of the ENGAGE platform. The Group will
maintain a reduced UK business development department to ensure
that it remains well placed for when demand increases in the UK
market. This refocusing has resulted in a small shortfall in early
revenue for the platform, however the Group is confident that it
can make up this shortfall with commercial deals during the second
half of the year. Progress is accelerating at present with much of
this new interest coming from the release of the Quest version and
a closer working relationship with HTC.
Showcase experiences
In May 2019 the Group announced the signing of a commercial
agreement with the US Rocket and Space Center in Huntsville,
Alabama, to display its Apollo 11 VR showcase as an add-on
experience to visitors at the centre. Since its installation this
showcase has been well received with solid ticket sales of which
the Group receives a significant proportion of the revenue
generated. The Group believes that this type of commercial
agreement can be replicated elsewhere, and it continues to have
ongoing discussions with a number of other large museums and
institutions about its software library.
VRE anticipates that in Q4 2019 it will release this year's
large VR showcase experience called 'Shuttle Commander', which will
be made available initially on PlayStation's VR headset, a platform
with a user base of more than 4.2 million users. PlayStation's VR
headset has by far the largest addressable market for such VR
experiences and its store has been where a significant proportion
of the Group's revenues to date have been generated. The Group's
existing VR showcase experiences, Apollo 11 VR and Titanic VR,
performed well on this platform generating significant revenues in
the first quarter of their initial releases on PlayStation and the
Board expects 'Shuttle Commander' to appeal to the same
demographic.
'Shuttle Commander' will allow users to take part in the Hubble
Space Telescope missions first hand with accurate recreations of
the space missions, shuttle cockpit and Hubble Space Telescope.
Users will get to join the crew on the space shuttle missions and
assist in the deployment and servicing of the Hubble Space
Telescope. They will also get to experience how this remarkable
apparatus changed our understanding of the universe around us
through science visualisation segments, based on actual data
discovered by the Hubble Space Telescope over the past three
decades. Additionally, users will get to fly the space shuttle in
an accurate physics-based landing simulation and take control of
the Canada Arm in space as they witness the Earth pass below during
a full day/night cycle.
Current trading and outlook
It is pleasing to see that the Group's showcase experiences
continue to generate revenues which are significantly increased on
H1 2018. In addition, the Group's commercialisation of its ENGAGE
platform is also gaining momentum, mainly in the US and Asian
markets. While the Group has had a challenging time in the UK, it
has taken decisive steps to resolve this matter and push forward
its goal of widespread adoption of VR technologies for education
and training. It is early days for this new medium, however VRE is
well-placed with a compelling software offering for those who wish
to push the boundaries of learning and personal development.
We believe 2020 is poised for substantial growth in the VR
market with new hardware manufacturers coming into this space. We
are receiving an increasing number of requests from potential
corporate customers to work with them to produce content for VR
training programmes. The Group continues to work tirelessly to
address these new opportunities and aims to lead the way during
2020 and beyond.
David Whelan
Chief Executive Officer
23 September 2019
Financial Review
Revenue for the half year is up 66% on the prior half year to
EUR497k (H1 2018: EUR300k), driven by the continued success of the
Apollo 11 VR and Titanic VR experiences, revenue from commercial
agreements entered into on the ENGAGE platform and early stage
revenue from the commercial agreement entered into with the US
Space and Rocket Center.
EBITDA loss was EUR0.9m comparable to the prior year period (H1
2018: loss of EUR0.9m). The primary cost driver for the EBITDA loss
is salary and associated costs, currently approximately EUR0.2m per
month.
Loss before tax was EUR1.2m, in line with management
expectations, compared to a loss in the prior year of EUR4.1m which
was driven by the inclusion of a non-cash fair value loss arising
on derivative financial liabilities of EUR2.6m and extinguishment
costs of EUR0.3m.
Operating cashflows after EUR0.5m of capex were a net outflow of
EUR1.2m for the period. The current cash burn rate, net of revenue
received, is approximately EUR0.2m per month.
At 30 June 2019, the Group had a strong cash position with net
cash of EUR2.2m. The Group's cash position as at 20 September 2019
stood at EUR1.9m.
Séamus Larrissey
Chief Financial Officer
23 September 2019
Consolidated Statement of Comprehensive Income
For the six months ended 30 June 2019
Note Unaudited Unaudited
Six months Six months
ended ended
30 June 2019 30 June 2018
EUR EUR
Continuing Operations
Revenue 497,362 300,110
Cost of Sales (217,699) (95,749)
-------------- --------------
Gross Profit 279,663 204,361
Administrative Expenses (1,448,633) (1,400,165)
-------------- --------------
Operating Loss (1,168,970) (1,195,804)
Fair value (loss) / gain arising
on derivatives
financial liabilities - (2,638,063)
Extinguishment Costs - (267,971)
Finance Costs (3,597) (29,086)
-------------- --------------
Loss before Income Tax (1,172,567) (4,130,924)
Income Tax Credit - -
-------------- --------------
Loss for the Year from continuing
operations (1,172,567) (4,130,924)
============== ==============
Loss per share
Basic from continuing operations 4 (0.01) (0.02)
Consolidated Statement of Financial Position
As at 30 June 2019
Note Unaudited Unaudited Audited
as at as at as at
30 June 2019 30 June 2018 31 Dec 2018
EUR EUR EUR
Non-Current Assets
Property, Plant &
Equipment 152,174 68,116 59,541
Intangible Assets 2 1,205,227 612,421 956,550
--------------
1,357,401 680,537 1,016,091
Current Assets
Trade and other receivables 289,932 128,108 394,114
Cash and short term
deposit 2,220,797 4,932,981 3,485,186
-------------- -------------- -------------
2,510,729 5,061,089 3,879,300
============== ============== =============
Total Assets 3,868,130 5,741,626 4,895,391
-------------- -------------- -------------
Equity and Liabilities
Equity Attributable to Shareholders
Issued share capital 193,136 193,136 193,136
Share premium 21,587,539 21,587,539 21,587,539
Other reserves (11,300,902) (10,733,760) (11,314,729)
Retained earnings (6,938,317) (5,548,980) (5,765,750)
-------------- -------------- -------------
Total Equity 3,541,456 5,497,935 4,700,196
-------------- -------------- -------------
Non-Current Liabilities
Operating lease liabilities 44,522 - -
-------------- -------------- -------------
Current Liabilities
Trade and other payables 246,434 243,691 195,195
Operating lease liabilities 35,718 - -
-------------- -------------- -------------
282,152 243,691 195,195
============== ============== =============
Total Liabilities 326,674 243,691 195,195
-------------- -------------- -------------
Total Equity and
Liabilities 3,868,130 5,741,626 4,700,196
============== ============== =============
Consolidated Statement of Changes in Equity
At 30 June 2019
Attributable to Equity Shareholders
Share Share Other Retained Total
Capital Premium Reserves Earnings EUR
EUR EUR EUR EUR
---------- ----------- ------------- ------------ -------------
Balance at 1 January 2018 - - - - -
Loss for the period - - - (4,130,924) (4,130,924)
Issue of ordinary shares 193,136 21,587,539 - - 21,780,675
Issue costs - - - (596,212) (596,212)
Acquisition of subsidiary - - (11,106,184) (821,844) (11,908,028)
Share option expense - - 352,424 - 352,424
---------- ----------- ------------- ------------ -------------
Balance at 30 June 2018 193,136 21,587,539 (10,733,760) (5,548,980) 5,497,935
========== =========== ============= ============ =============
Attributable to Equity Shareholders
Share Share Other Retained Total
Capital Premium Reserves Earnings EUR
EUR EUR EUR EUR
---------- ----------- ------------- ------------ ------------
Balance at 1 January 2019 193,136 21,587,539 (11,314,729) (5,765,750) 4,700,196
Loss for the period - - - (1,172,567) (1,172,567)
Share option expense - - 13,827 - 13,827
---------- ----------- ------------- ------------ ------------
Balance at 30 June 2019 193,136 21,587,539 (11,300,902) (6,938,317) 3,541,456
========== =========== ============= ============ ============
Consolidated Statement of Cash Flows
For six month period ended 30 June 2019
Unaudited Unaudited
Six months Six months
ended ended
30 June 30 June
2019 2018
EUR EUR
Cash Flows from Operating Activities
Loss before income tax (1,172,567) (4,130,924)
Adjustments to reconcile loss before
tax to net cash flows:
Depreciation 39,015 36,621
Amortisation 231,807 -
Fair value loss arising on derivative
financial liabilities - 2,638,063
Finance Costs 3,597 29,086
Non-cash element of advisor warrants - 112,381
Non-cash element of investor warrants - 174,651
Share Option Expense 13,827 14,902
Movement in redeemable shares - 25,000
Movement in Trade & Other Receivables 104,182 110,207
Movement in Trade & Other Payables 51,239 (114,328)
------------ ------------
(728,900) (1,104,341)
Bank interest & other charges paid (3,597) (29,086)
------------ ------------
Net cash used in operating activities (732,497) (1,133,427)
------------ ------------
Cash Flows from Investing Activities
Purchases of property, plant & equipment (34,137) (30,059)
Payments to develop Intangible Assets (480,482) (176,630)
Cash acquired on acquisition of subsidiary - 86,801
------------ ------------
Net cash used in investing activities (514,619) (119,888)
Cash Flows from Financing Activities
Proceeds from issuance of ordinary
shares - 6,180,046
Payment of operating lease liabilities (17,273) -
------------ ------------
Net cash (used) / generated from financing
activities (17,273) 6,180,046
------------ ------------
Net (decrease) / increase in cash
and cash equivalents (1,264,389) 4,926,731
Cash and cash equivalents at beginning
of period 3,485,186 6,250
Cash and cash equivalents at the end
of period 2,220,797 4,932,981
============ ============
Notes to the Interim Report
1. Basis of Preparation
The consolidated interim financial statements have been prepared
in accordance with the recognition and measurement principles of
International Financial Reporting Standards as endorsed by the
European Union ("IFRS") and expected to be effective at the
year-end of 31 December 2019.
The accounting policies are unchanged from the financial
statements for the year ended 31 December 2018. The interim
financial statements are unaudited and do not constitute statutory
accounts within the meaning of Section 434 of the Companies Act
2006. Statutory accounts for the year ended 31 December 2018,
prepared in accordance with IFRS, have been filed with the
Companies Registration Office. The Auditors' Report on these
accounts was unqualified, did not include any matters to which the
Auditors drew attention by way of emphasis without qualifying their
report and did not contain any statements under section 498 of the
Companies Act 2006.
The consolidated interim financial statements are for the 6
months to 30 June 2019.
The interim consolidated financial information does not include
all the information and disclosures required in the annual
financial statements and should be read in conjunction with the
Group's annual financial statements for the year ended 31 December
2018, which were prepared in accordance with IFRS's as adopted by
the European Union.
2. Summary of Significant Accounting Policies
New standards, interpretations and amendments adopted by the
Company
The following standards and amendments have been adopted for the
first time in these financial statements:
Leases
Effective from 1 January 2019, the Group adopted IFRS 16 -
Leases ('IFRS 16'), which replaces IAS 17 - Leases and related
interpretations.
The Group elected to apply the modified retrospective approach
which does not require restatement of comparative periods. As a
result, lease liabilities were recognised in the opening
consolidated balance sheet as at 1 January 2019 at an amount equal
to the Group's remaining lease payments discounted using the
Group's incremental borrowing rate.
On 1 January 2019, the Group recognised lease liabilities of
EUR77,425.
Under IFRS 16, the Group accretes interest on its lease
liabilities. As at 30 June 2019, the carrying value of these lease
liabilities amounted to EUR80,240, with EUR35,718 of this balance
shown as short-term lease liabilities and the remaining portion of
EUR44,522 reflected under non-current liabilities.
Intangible Assets
Research costs are expensed as they are incurred. Development
costs that are directly attributable to the design and testing of
identifiable and unique commercial software controlled by the
Company are recognised as intangible assets when the following
criteria are met:
- it is technically feasible to complete the software product so
that it will be available for use and sale;
- management intends to complete the software product and use or sell it;
- there is an ability to use or sell the software product;
- it can be demonstrated how the software product will generate
future economic benefits;
- adequate technical, financial and other resources to complete
the development and use or
- sell the software product are available; and
- the expenditure attributable to the software product during
its development can be reliably
- measured.
Directly attributable costs that are capitalised as part of the
software product include the software development employee costs
and subcontracted development costs.
Other development expenditure that does not meet these criteria
is recognised as an expense as incurred.
Development costs previously recognised as an expense are not
recognised as an asset in a subsequent period.
Computer software development costs recognised as assets are
amortised over their estimated useful lives, which do not exceed 3
years and commences after the development is complete and the asset
is available for use. Intangible assets are amortised over their
estimated useful lives based on the pattern of consumption of the
underlying economic benefits. Amortisation is included in
'Administrative Expenses'.
2. Intangible Assets
Software Total
in development EUR
Costs
EUR
Cost or Valuation
At 1 January 2019 1,131,850 1,131,850
Additions 480,484 480,484
---------------- ----------
At 30 June 2019 1,612,334 1,612,334
---------------- ----------
Amortisation
At 1 January 2019 175,300 175,300
Charge 231,807 231,807
---------------- ----------
At 30 June 2019 407,107 407,107
---------------- ----------
At 30 June 2019 1,205,227 1,205,227
At 31 December 2018 956,550 956,550
---------------- ----------
The software being developed relates to the creation of three
virtual reality experiences and an online virtual learning and
corporate training platform.
ENGAGE is an online virtual learning and corporate training
platform currently in development by the Company. A desktop version
was released in December 2018 and a mobile version is expected to
be released in Q3 2019. Amortisation will commence once the mobile
version is launched.
The three virtual reality experiences are at various stages in
their development cycles. Once the experience is launched on the
major VR capable platforms amortisation commences.
Amortisation expense of EUR231,807 (H1 2018: EURNil) has been
charged in 'Administrative Expenses'. An impairment review was
carried out at the balance sheet date. No impairment arose.
3. Share Based Payments
Share-based payment schemes with employees
During the year ended 31 December 2018, VR Education Holdings
plc introduced a share-based payment scheme for employee
remuneration ("the 2018 Scheme") to replace the scheme previously
in operation within Immersive VR Education Limited ("the 2016
Scheme"). The 2018 Scheme and the 2016 schemes are classified
equity settled share based payment plans. Recipients under the
scheme are awarded options over ordinary shares of the Company.
On the 12 March 2018, the options under the 2016 Scheme were
cancelled and replaced with options under the 2018 Scheme under the
equivalent terms and conditions as the 2016 scheme, and a stock
split which gave rise to the issue of 740 shares for every 1 share
held. The options granted under the 2016 Scheme had vesting periods
of up to 36 months. The replacement of the options did not give
rise to any additional income statement expense in 2018.
There were 133,089 (2018: 311,108) employee options granted
during 2019 at an exercise price of EUR0.10 (2018: EUR0.135) per
share and these vest subject to continued service by the employee
over a period of 3 years. Options expire at the end of a period of
7 years from the Grant Date or on the date on which the option
holder ceases to be an employee.
Share-based payment expense with Director
On 12 March 2018, VR Education Holdings plc granted options to
purchase 1m ordinary shares to Richard Cooper, the Chairman of the
Company. The options vest if the market capitalisation of the
Company equals 2.5 times the market capitalisation on admission to
listing for a consecutive period of 30 days. Except in the event of
a change in control (see below) the options, which are exercisable
at a price of GBP0.0001, cannot be exercised for a period of two
years and expire on 12 March 2023. The market capitalisation
requirement is a "market condition" under IFRS 2 and the valuation
of the option, which amounted to EUR0.668, takes this market
condition into account.
In the event of a change in control, in the two years after
admission to listing, the options are exercisable at prices ranging
from GBP0.0001 to GBP0.10. The change in control scenarios gave
rise to option values of EUR0.018 - EUR0.112.
The movement in employee share options and weighted average
exercise prices are as follows for the reporting periods
presented:
2018 Scheme 2016 Scheme
Half-Year Half-Year Half-Year Half-Year
2019 2018 2019 2018
At 1 January 4,425,028 - - 4,208
Capital restructure
and Listing process - 3,113,920 - (4,208)
Granted during period 133,089 1,311,108 - -
Forfeited during period (92,591) -
At 30 June 4,465,526 4,425,028 - -
Options outstanding
at 30 June
Number of shares 4,465,526 4,425,028 - -
Weighted average remaining
contractual life 3.30 years 4.25 years
Weighted average exercise
price per share EUR0.028 EUR0.028
Range of exercise price EUR0.0001 EUR0.0001-EUR0.135
- EUR0.135
Exercisable at 30 June
Number of shares 2,438,152 1,101,120
Weighted average exercise
price per share EUR0.026 EUR0.026
No options were exercised during the period. The weighted
average exercise price of options granted during the period was
EUR0.01 (2018: EUR0.032). The expense recognised in respect of
employee share based payment expense and credited to the share
based payment reserve in equity was EUR13,827 (2018: EUR9,334)
Advisor warrants
During 2018, as part of the listing process and as set out in
the admission document, the Company issued warrants over 5,018,328
shares at an exercise price of GBP0.15, subject to expiry on
various dates up to 12 March 2023. The warrants were valued under
the Black Scholes model. The expense recognised during the period
was EURNil (2018: EUR162,871).
Investor warrants
During 2018, as part of the arrangements for the listing process
and as set out in the admission document, the Company issued
warrants over 5,794,092 shares at an exercise price of GBP0.15,
subject to expiry on 12 March 2023. The warrants were valued under
the Black Scholes model. An expense of EURNil (2018: EUR174,651)
was recognised in the income statement during the period.
The Company has measured the fair value of the services received
as consideration for equity instruments of the Company, indirectly
by reference to the fair value of the equity instruments. The table
below sets out the options and warrants that were issued during the
period and the principal assumptions used in the valuation.
Employee Director Advisor Investor
Number of options / warrants 311,108 1,000,000 5,018,328 5,794,092
Grant date 26 Apr 12 Mar 12 Mar 12 Mar
18 18 18 18
Vesting period 3 years 2 years - -
Share price at date of GBP0.11 GBP0.10 GBP0.10 GBP0.10
grant
Exercise price EUR0.135 GBP0.001-GBP0.10 GBP0.15 GBP0.15
Volatility 57% 54.4-59.2% 54.4-57.3% 57.3%
Option life 7 years 5 years 22 months 3 years
- 5 years
Dividend yield 0% 0% 0% 0%
Risk free investment
rate 0.14% 0.5-1.16% 0.8-1.16% 0.87%
Fair value per option
at grant date EUR0.058 EUR0.018-EUR0.112 EUR0.018-EUR0.030 EUR0.030
Weighted average remaining
contractual life in years 5.8 3.7 2.2 1.7
4. Loss per share
Loss attributable to equity holders Unaudited Unaudited
of the Group: Six months Six months
ended ended
30 June 30 June
2019 2018
EUR EUR
Continuing Operations (1,172,567) (4,130,924)
Weighted average number of shares
for Basic EPS 193,136,406 193,136,406
Basic loss per share from continuing
operations (0.01) (0.02)
- ENDS -
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
IR SEFFMSFUSESU
(END) Dow Jones Newswires
September 23, 2019 02:00 ET (06:00 GMT)
Grafico Azioni Vr Education (LSE:VRE)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Vr Education (LSE:VRE)
Storico
Da Apr 2023 a Apr 2024