TIDMIMMO

RNS Number : 7742Z

Immotion Group PLC

05 September 2018

5 September 2018

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulations No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Immotion Group PLC ("Immotion Group" or the "Group")

Roll out of a further four ImmotionVR Centres at intu shopping centres

Following the success of its existing virtual reality ("VR") centres, Immotion Group Plc, the UK-based immersive VR 'Out of Home' entertainment business, is pleased to announce that it has opened an additional ImmotionVR Centre at intu St Davids, Cardiff, and that it will open a further three ImmotionVR Centres at intu Derby, intu Eldon Square, Newcastle and intu Uxbridge. When the new sites are open, Immotion will own and operate a total of seven outlets, in addition to the sites operated by concession partners.

Working in partnership with intu, which owns and manages many of the UK's best and most popular shopping centres, Immotion Group is proud to continue the roll out of its successful ImmotionVR brand. Customers will be able to enjoy a broad range of experiences including Delta Zero which was launched in August 2018. Further experiences are due to launch later this year, including seasonal themed experiences for both Halloween and Christmas. They will be distributed to all outlets via the Group's proprietary Content Management System.

Most of the outlets will be centre aisle attractions although Cardiff St David's has opened as a shop and will feature, alongside the VR cinema pods and guns, the latest Immotion racing car simulators. Following its initial success, the Group's existing outlet in the Manchester Arndale will be relocated to a more prominent site within the premises.

Martin Higginson, CEO of Immotion Group, said: "We are incredibly excited to be working with intu to expand our portfolio of ImmotionVR outlets across its impressive portfolio of some of the UK's most popular shopping locations. Riding on the success of our existing VR centres, this roll out will positively impact our revenues. We look forward to bringing more high quality VR experience centres to more consumers across the UK, many of whom are trying VR for the first time, in the coming months."

Roger Binks, Customer Experience Director at intu, said: "Virtual reality has such exciting potential within our portfolio of the some of the UK's most popular shopping destinations where it could one day become as commonplace as stopping for a coffee with friends. intu centres are focused on creating these kinds of compelling experiences for our customers to enjoy and we're excited to provide yet another new brand with a fantastic opportunity to flourish across the UK."

Enquiries:

 
 Immotion Group              Martin Higginson   Tel: +44 (0) 161 235 8505 
 WH Ireland Limited          Adrian Hadden      Tel: +44 (0) 207 220 1666 
  (Nomad and Joint Broker)    Jessica Cave 
 Shard Capital Partners      Damon Heath        Tel: +44 (0) 20 7186 9900 
  LLP                         Erik Woolgar 
  (Joint Broker) 
 
 Redleaf Communications      Elisabeth Cowell   Tel: +44 (0) 20 3757 6880 
  (Financial PR)              Robin Tozer        Immotion@redleafpr.com

About Immotion Group

Immotion Group, co-founded by Martin Higginson and David Marks in 2017, generates revenues through the delivery of high quality "state of the art" VR experiences, combined with cutting edge motion platforms to consumers at an affordable price point through a range of routes:

-- Sales - sale of VR Motion Platforms to Leisure and Entertainment operators provide the opportunity for the operator to drive substantial ancillary revenues

-- Concession partners - currently installed at a range of outlets including Merlin Entertainments' LEGOLAND(R) Discovery Centres in Boston, USA and in Manchester, UK and Genting Resorts World in Birmingham - this channel provides an opportunity for its partners to earn ancillary revenues, as well as providing an exciting additional attraction to their facilities

-- Owned and franchised outlets, trading as ImmotionVR, located in high footfall shopping centres

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

MSCLZLLBVKFBBBX

(END) Dow Jones Newswires

September 05, 2018 02:01 ET (06:01 GMT)

Immotion (LSE:IMMO)
Historical Stock Chart
From Jul 2024 to Jul 2024 Click Here for more Immotion Charts.
Immotion (LSE:IMMO)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Immotion Charts.