Immotion Group PLC Result of General Meeting (7687N)

TIDMIMMO

RNS Number : 7687N

Immotion Group PLC

22 May 2020

Immotion Group plc

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

Result of General Meeting

Immotion Group plc, the UK-based immersive virtual reality ("VR") 'Out of Home' entertainment business, is pleased to announce at its General Meeting held earlier today all resolutions were duly passed.

Accordingly the Company has today authorised the issue of 54,062,200 new ordinary shares (the "New Ordinary Shares") at an Issue Price of 2.5p pence raising gross proceeds of approximately GBP1.35 million through a placing (the "Placing") with institutional and other investors.

The full details of the Placing are set out in the announcement dated 6 May 2020.

Admission to Trading on AIM

Further to the announcement on 6 May 2020, application for admission to trading of the New Ordinary Shares has been made and it is anticipated that Admission will take place on 27 May 2020 ("Admission"). The New Ordinary Shares will rank pari passu with the Existing Ordinary Shares.

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the Placing, its issued share capital will comprise 379,538,083 Ordinary Shares upon Admission. All of these Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in treasury. The total number of voting rights in the Company will therefore be 379,538,083 upon Admission.

Unless otherwise defined, terms used in this announcement shall have the same meanings as those defined in the announcement dated 6 May 2020.

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 
                              Darshan Patel 
                              Matthew Chan 
                              Sales / Corporate 
                              Broking: 
                              Jasper Berry 
                              Hayley Richardson 
                              David Kilbourn 
 Alvarium Capital Partners   Alex Davies          Tel: +44 (0) 207 195 
  Limited                                          1458 
  (Joint Broker) 
 Shard Capital Partners      Damon Heath          Tel: +44 (0) 207 186 
  Limited                     Erik Woolgar         9900 
  (Joint Broker)

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

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

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May 22, 2020 05:48 ET (09:48 GMT)

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