Immotion Group PLC Partnership Update

TIDMIMMO

Immotion Group PLC

25 September 2019

Immotion Group plc

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

Partnership update

Immotion Group, the UK-based immersive 'Out of Home' entertainment group, is pleased to announce agreements for three further installs in its fast growing Aquarium sector.

The first of which is with Dubai Aquarium, sited in the largest shopping mall in the World, the Dubai Mall, which boasts over 80 million visitors per annum. Immotion will install an initial four headsets in the Dubai Mall just outside the entrance of the Dubai Aquarium, one of the largest suspended aquariums in the World with over 140 species, including the largest collection of Sand Tiger Sharks in the World.

The two additional installs, four headsets each, are in Texas; the first at San Antonio Aquarium, and the second Austin's Aquarium.

These new additions will all feature the 'Ocean Explorer' series of experiences, including the latest experience from Immotion; 'Shark Dive' - a live action VR experience where users can get up close with Tiger and Hammerhead Sharks.

As noted in our interim statement, we are seeing excellent performance from the aquarium sector, which is currently trading ahead of our overall partner revenues, which in turn are trading ahead of our overall headsets revenues.

Martin Higginson, Immotion Group CEO said: "Demand from the aquarium market is really starting to gain traction. We now have over 50 active leads from this sector which gives us real confidence in hitting our EBITDA breakeven figures in Q1 2020. Signing up Dubai Aquarium is another major milestone in the Company's growth story. Not only is this one of the largest aquariums, it is located in the largest shopping mall in the World with over 80 million visitors a year."

Enquiries:

For further information please visit www.immotion.co.uk, or contact:

 
 Immotion Group           Martin Higginson   Tel: +44 (0) 161 
                                              235 8505 
 WH Ireland Limited       Adrian Hadden      Tel + 44 (0) 207 
  (Nomad and Joint         Darshan Patel      220 1666 
  Broker)                  Matthew Chan 
 Shard Capital Partners   Damon Heath        Tel: +44 (0) 20 7186 
  LLP                      Erik Woolgar       9900 
  (Joint Broker) 
 Alvarium Capital         Alex Davies        Tel: +44 (0) 207 
  Partners                                    195 1433

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

NRADGGDCDUDBGCS

(END) Dow Jones Newswires

September 25, 2019 02:01 ET (06:01 GMT)

Immotion (LSE:IMMO)
Historical Stock Chart
From Jul 2024 to Jul 2024