TIDMIMMO

RNS Number : 0317P

Immotion Group PLC

16 June 2022

Immotion Group plc

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

Immotion signs deal to expand into Chinese Aquarium Market

Immotion, the UK-based immersive entertainment group, has entered into into a three-year licensing deal for the Chinese Aquarium market. The Company will license a select number of its oceanographic virtual reality experiences under its 'Undersea Explorer' brand. The contract will be with Chinese Virtual Reality ("VR") company, Leke VR, a company that Immotion has dealt with for the past four years.

Each of the experiences will operate on motion platforms in a multi-seated environment. The experiences will be installed into an initial 15 aquariums on 1 July 2022, with the intention to roll the experiences out to many more aquariums.

The initial installations into the 15 aquariums will total 180 seats with an annual footfall in excess of 32 million visitors across all sites. Immotion will receive a licence fee of RMB 2.10 (circa GBP0.25) per play from each location.

Martin Higginson, CEO, Immotion Group plc said:

"We are delighted to be working with Leke VR as our partner in the Chinese market. The Chinese Aquarium and Zoo market has flourished in recent years, with many individually recording over 4 million annual visitors.

"This is an excellent way for us to enter the Chinese market, exposing our brand and VR experiences to this huge audience. Leke VR has an aggressive roll-out plan in this sector and to be doing this under a licensing agreement using our 'Undersea Explorer' brand allows us to further monetise our oceanographic VR experiences without having the burden of capital outlay or operational challenges."

Mr Yangwei, CTO, Leke VR said: "We are pleased to be working with Immotion on this prestigious project. It is an honour for us to license the 'Undersea Explorer' brand and some of their aquatic VR experiences. We look forward to rolling this out across multiple aquariums over the coming months and years."

Enquiries:

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

 
 Immotion Group plc          Martin Higginson   investors@immotion.co.uk 
                              David Marks 
 WH Ireland Limited          Jessica Cave       Tel + 44 (0) 207 220 1666 
  (Nomad and Joint Broker)    Darshan Patel 
                              Ben Good 
 Alvarium Capital Partners   Alex Davies        Tel: +44 (0) 207 195 1458 
  (Joint Broker) 
 
 
 Shard Capital Partners   Damon Heath     Tel: +44 (0) 20 7186 
  LLP                      Erik Woolgar    9900 
  (Co-Broker) 
 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEASKSFEXAEFA

(END) Dow Jones Newswires

June 16, 2022 02:00 ET (06:00 GMT)

Immotion (LSE:IMMO)
Gráfica de Acción Histórica
De Jul 2022 a Ago 2022 Haga Click aquí para más Gráficas Immotion.
Immotion (LSE:IMMO)
Gráfica de Acción Histórica
De Ago 2021 a Ago 2022 Haga Click aquí para más Gráficas Immotion.