Immotion Group PLC Immotion breaks through 430 contracted headsets (5272D)

TIDMIMMO

RNS Number : 5272D

Immotion Group PLC

20 February 2020

Immotion Group plc

("Immotion Group", the "Company")

Immotion breaks through 430 contracted headsets

Immotion Group, the UK-based immersive virtual reality ("VR") 'Out of Home' entertainment group, is pleased to announce it has in the past week, signed contracts for 68 headsets (at 11 sites), including the Company's first outdoor enclosure of 8 headsets at Roger Williams Zoo in Rhode Island, USA.

The additional 68 contracted headsets (plus others already contracted but yet to be installed, including Mandalay Bay) will, once installed, take the total number of headsets in operation to 432; of which 314 will be in Partner locations, with 118 now operated in the Company's own ImmotionVR locations.

It is currently expected that the bulk of the new installations (including Mandalay Bay) will occur through Q1 2020. All of these can be fulfilled from current stock.

New Signed Contracts:

   SEA LIFE Minnesota, USA                                                              4 Headsets (Aquarium)

SEA LIFE Great Yarmouth, UK 4 Headsets (Aquarium)

SEA LIFE Dallas, USA 4 Headsets (Aquarium)

SEA LIFE Timmendorfer Strand, Germany 4 Headsets (Aquarium)

   SEA LIFE Orlando, USA                                                                   4 Headsets (Aquarium) 
   Seattle Aquarium, USA                                                                   4 Headsets (Aquarium)

Zoo Marine, Algarve 4 Headsets (Aquarium)

Adventure Aquarium, New Jersey, USA 4 Headsets (Aquarium)

Roger Williams Zoo, Rhode Island, USA 8 Headsets (Zoo)

LEGOLAND Discovery Center, San Antonio, USA 4 Headsets (Entertainment)

   Arizona Broadwalk, Arizona, USA                                                24 Headsets* (Entertainment)

Total 68 Headsets

*8x cinematic pod headsets, plus remaining stock (equating to 16 headsets) originally earmarked for ImmotionVR.

The Company looks forward to updating the market on further new contracts in due course.

Click on, or paste, the following link into your web browser to view the associated PDF. This includes images of the machine line up and experience footage.

http://www.rns-pdf.londonstockexchange.com/rns/5272D_1-2020-2-19.pdf

Martin Higginson, CEO of Immotion Group, said: "We are pleased to have signed a further nine partnership agreements, and for two existing partners to be taking more headsets. We now have full visibility on an installed base of 432 headsets."

"We remain confident in our business model, and that we will achieve our breakeven target around the end of Q1 2020. Partner demand continues, and with a combination of new experiences, outdoor enclosures, and larger theatre solutions now available, we are well-positioned for growth."

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

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