TIDMIMMO

RNS Number : 7491Q

Immotion Group PLC

30 June 2022

Immotion Group plc

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

AGM Trading Update

To coincide with the Company's Annual General Meeting later today, the Company is pleased to provide an update on recent trading. All figures stated below are unaudited.

Trading in the first 5 months of the current financial year is well ahead of the same period last year. Unaudited revenue in the core Location Based Entertainment ("LBE") business for the 5 months to 31 May 2022 was GBP3.4m (2021: GBP1.5m), a 127% increase. The Company has seen very strong trading in June so far, the second half of which benefits from the US school holidays, and we now look forward to the busy summer period in our key markets.

Our 40 seat installation at Milwaukee County Zoo is expected to open within the next few days and our 24 seat installation at Pittsburgh Zoo is expected to open in July 2022 following a short delay as a result of awaiting a necessary permit.

We have recently opened a new 6 seat installation at Audubon Aquarium of the Americas, New Orleans, USA and early trading has been very positive.

When the Milwaukee and Pittsburgh installations open, the Company will have 478 operating seats installed at 52 locations.

Interest in both our aquarium and zoo offerings continues to run high and numerous discussions are ongoing with significant potential partners.

We continue to pursue the spin-off of both the Home Based Entertainment business and Uvisan from the Group, as detailed in the Company's announcement of 26 April 2022, and will provide further updates as appropriate. The Company's primary objective remains on focusing all cash and management resources to grow the core LBE business.

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.

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(END) Dow Jones Newswires

June 30, 2022 02:00 ET (06:00 GMT)

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