VR Education Holdings PLC Result of Extraordinary General Meeting (7032P)
11 Giugno 2020 - 01:30PM
UK Regulatory
TIDMVRE
RNS Number : 7032P
VR Education Holdings PLC
11 June 2020
For immediate release 11 June 2020
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
VR Education Holdings plc
('VR Education' or the 'Company')
Result of Extraordinary General Meeting
and
Admission of Subscription Shares
VR Education (AIM: VRE; Euronext Growth: 6VR), a leading virtual
reality ('VR') technology company focused on the education and
enterprise training space, announces that, at the Extraordinary
General Meeting of the Company held earlier today, all resolutions
set out in the Circular dated 19 May 2020 were duly passed.
The results of the voting will be available shortly on the
Company's investor relations website:
https://immersivevreducation.com/investors .
Accordingly, following the announcement of 20 May 2020 notifying
that HTC Corporation ('HTC') had agreed to invest EUR3.0 million in
the Company (the 'Subscription'), the Admission of 48,284,102
Subscription Shares to trading on the London Stock Exchange's AIM
and Euronext Growth, for which application has been made, is
expected to occur at 8.00 a.m. on Friday, 12 June 2020.
Highlights:
-- Issue of 48,284,102 Subscription Shares at an Issue Price of
5.47 pence per Subscription Share;
-- The Enlarged Issued Share Capital of the Company will be
241,420,508 Ordinary Shares with the Subscription Shares
representing c.20 per cent. of the Enlarged Issued Share
Capital;
-- Gross proceeds of the Subscription are EUR3.0 million
(GBP2.64 million) with net proceeds after expenses being
approximately EUR2.93 million (GBP2.58 million);
-- Proceeds of the Subscription will be used to further develop
and enhance the Company's ENGAGE platform and build its sales and
marketing capability, as well as the production of additional
showcase experiences to support the uptake of the ENGAGE platform;
and
-- Praveen Gupta, Vice President - Corporate Investments and
Development, HTC, will join the Board of VR Education as a
non-executive director of the Company. A further announcement in
relation to his appointment will be made in due course.
HTC's investment follows the success of the 2020 HTC VIVE
Ecosystem Conference which was hosted on the Company's ENGAGE
platform in March 2020. Further to the announcement of 20 May 2020,
HTC and the Company have entered into a strategic partnership for
the distribution and license of the Company's ENGAGE platform
globally through HTC enterprise sales channels.
Total Voting Rights
Following Admission, the Company will have in issue 241,420,508
ordinary shares with voting rights. The above figure may be used by
shareholders as the denominator for calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the Company under the Disclosure and
Transparency Rules. There are no shares held in treasury.
Capitalised terms used in this announcement have the meaning
ascribed to them in the announcement of 20 May 2020 unless the
context requires otherwise.
- Ends -
For further information, please contact:
VR Education Holdings plc Tel: +353 87 665 6708
Richard Cooper, Chairman contact@vreducationholdings.com
David Whelan, CEO
Sandra Whelan, COO
Cairn Financial Advisers LLP (Nominated Tel: +44 (0) 20 7213
Adviser) 0880
James Caithie / Liam Murray / Ludovico
Lazzaretti
Shard Capital Partners LLP (Joint Tel: +44 (0) 20 7186
Broker) 9952
Damon Heath / Erik Woolgar
Davy (Joint Broker & Euronext Growth Tel: +353 1 679 6363
Advisor)
Fergal Meegan / Ronan Veale / Barry
Murphy
Buchanan (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 .
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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