Primorus Investments PLC StreamTV Investor Update (7113G)
08 Noviembre 2018 - 1:01AM
UK Regulatory
TIDMPRIM
RNS Number : 7113G
Primorus Investments PLC
08 November 2018
Primorus Investments plc
("Primorus" or the "Company")
StreamTV Investor Update Received
Primorus Investments plc (AIM: PRIM, NEX: PRIM) is pleased to
provide shareholders with an update on its investment in Stream TV
Networks ("StreamTV") by way of an investor update received by
Primorus from StreamTV. Primorus has invested US$200,000 with
attaching free 2 for 1 warrants. Through its wholly-owned research
subsidiary, SeeCubic B.V., StreamTV has developed breakthrough
glasses-free 3D display technology launched under the trade name
Ultra-D.
This update follows on from information provided in the Primorus
Q3 Report and is in advance of the Ultra-D global launch in
Beijing. Please note that much of the specific content of the
StreamTV Quarter 3 Report is deemed commercial in confidence
however Stream have kindly allowed us to transmit some of the
information for the benefit of Primorus shareholders.
Highlights:
-- Beijing Optical and Electrical ("BOE"), the world's largest
flat panel manufacturer, to finance the Ultra-D product supply
chain initially focusing on large panel 8K televisions and PC
Monitors as well as 4K tablets and smart phones.
-- Product planning and brand engagement in conjunction with BOE
has commenced for over a dozen of the world's largest panel
consumers and technology vendors from Korea, Japan, China and the
United States.
-- Subject to financing, StreamTV expects significant volumes of
65" TV's and 27" PC Monitors to begin entering the market in Q2
2019.
-- In the globally significant Computer Gaming market a majority
of the top 20 gaming content producers are ready to integrate on
the software side immediately and work on the first hardware device
with a large global player has commenced.
-- Following recent meetings and demonstrations, many Hollywood
and Asian film studios have expressed interest in applying the
Ultra-D software technology to their existing and future content
libraries.
Alastair Clayton, Executive Director, commented:
"It is very exciting for shareholders to start to see the huge
potential of the Ultra-D product begin to coalesce into a credible
commercialisation strategy that should see the technology as a
standard feature in TV displays and hand-held devices which we
expect will commence from Q2 2019. Through its agreement with BOE,
StreamTV has now secured the massive supply chain needed to bring
this exciting technology to consumers globally from 2019.
As mentioned we are limited in the specifics of what we can say
in terms of naming many of the prospective panel and technology
vendors who are in discussions regarding numbers of product
pre-orders and other technology tie-ups however it is fair to say
that many household names in televisions, monitors, laptops,
smartphones and tablets are represented at some level.
Much of the delivery timetable discussed is contingent on
successful completion of the current funding round however given
the level of industry interest in the products we are confident the
funding round will be completed in the near-term. As mentioned
previously, we expect to be able to provide shareholders with
information regarding the upcoming global product launch with BOE
in Beijing in the coming weeks.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Primorus Investments plc: +44 (0) 20 7440 0640
Alastair Clayton
Nominated Adviser: +44 (0) 20 7213 0880
Cairn Financial Advisers LLP
James Caithie / Sandy Jamieson
Broker: +44 (0) 20 3621 4120
Turner Pope Investments
Andy Thacker
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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