Immotion Group PLC Exercise of Broker Option (2810H)

TIDMIMMO

RNS Number : 2810H

Immotion Group PLC

31 July 2019

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR A SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY SUCH OFFER, SOLICITATION OR COMMITMENT WHATSOEVER IN ANY OF THOSE JURISDICTIONS.

31 July 2019

Immotion Group plc

("Immotion Group", "Immotion", the "Company" or the "Group")

Exercise of Broker Option

Further to the announcement made yesterday that it has raised approximately GBP2.0 million (before expenses) with new and existing investors, Immotion Group, the UK-based immersive virtual reality ("VR") out-of-home entertainment group, is pleased to announce that it has raised additional gross proceeds of approximately GBP0.370 million via the Broker Option.

Accordingly, the Company has authorised WH Ireland Limited and Alvarium Capital Partners Limited to issue an additional 5,481,481 New Ordinary Shares, through the Broker Option at a price of 6.75 pence per share.

As such, a total of 35,111,107 New Ordinary Shares have been placed via the Placing and Broker Option, raising gross proceeds for the Company of approximately GBP2.37 million, which represents approximately 12.3 per cent. of the Company's Enlarged Share Capital.

Application will be made for the 29,629,626 Placing Shares and 5,481,481 Broker Option Shares to be admitted to trading on AIM. Admission and dealings in the Placing Shares is expected to take place at 8.00 a.m. on 5 August 2019. Admission and dealings in the Broker Option Shares is expected to take place at 8.00 a.m. on 7 August 2019. The Placing and Broker Option are conditional upon, inter alia, Admission becoming effective and the Placing Agreement becoming unconditional and not being terminated in accordance with its terms.

Following Admission of the Broker Option Shares, Immotion will have 285,462,691 Ordinary Shares in issue and admitted to trading on AIM. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

Capitalised terms used but not defined in this announcement have the meanings given to them in the Company's announcement released at 7 a.m. on 30 July 2019 in respect of the Placing unless the context provides otherwise.

Enquiries:

 
 Immotion Group              Martin Higginson              Tel: +44 (0) 161 235 
                                                            8505 
 WH Ireland Limited          Corporate Finance:            Tel: +44 (0) 207 220 
  (Nomad and Joint Broker)    Adrian Hadden                 1666 
                              Jessica Cave 
                              Sales / Corporate Broking: 
                              Hayley Richardson 
                              David Kilbourn 
 Alvarium Capital Partners   Alex Davies                   Tel: +44 (0) 207 195 
  Limited                     Hugh Kingsmill Moore          1458 
  (Joint Broker) 
 Shard Capital Partners      Damon Heath                   Tel: +44 (0) 20 7186 
  LLP                         Erik Woolgar                  9900 
  (Joint Broker)

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END

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July 31, 2019 02:02 ET (06:02 GMT)

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