EVR Holdings PLC MelodyVR signs agreement with Ibiza Rocks Group (3941F)
October 29 2018 - 2:00AM
UK Regulatory
TIDMEVRH
RNS Number : 3941F
EVR Holdings PLC
29 October 2018
29 October 2018
EVR Holdings plc
('EVR' or the 'Company')
MelodyVR signs agreement with Ibiza Rocks Group
EVR Holdings plc (AIM:EVRH), the leading creator of virtual
reality music content and operator of the MelodyVR platform, is
pleased to announce that Ibiza Rocks Group ("IRG"), which is a
leading event promoter and hotel operator, has entered into a
sponsorship and immersive content production agreement.
IRG is the first client to participate in a new commercial
initiative for MelodyVR, with a key focus on revenue generation via
branded immersive content and strategic partnerships. This new
initiative will leverage the company's market-leading skillset via
the creation and distribution of virtual reality and immersive
content across a broad spectrum of influential brands and
sponsorship partners.
Under this agreement, MelodyVR will create a number of branded
pieces of content for distribution across the MelodyVR platform and
will produce a number of physical and immersive content
installations, which will be utilised across IRG properties
throughout Europe. MelodyVR will also promote IRG to its own global
user-base as well as across MelodyVR social and digital channels.
In tandem, IRG will actively promote and endorse the MelodyVR
platform as part of its own promotional campaigns. Under the terms
of the agreement, IRG has received an entitlement to subscribe for
6,000,000 new ordinary shares in EVR over the course of the next
five years at an exercise price of 5.5 pence per share.
This material contract will make a contribution to 2018 revenues
and, following a positive start to H2, the Directors are pleased to
report that the Company is on-track to meet the Board's revenue
expectations for the current financial year.
Anthony Matchett, Executive Chairman of EVR Holdings, said: "The
success of this new commercial initiative represents an exciting
endorsement of the technical and marketing expertise inherent
within our organisation. In addition to our core strategy of the
monetisation and distribution of VR content to music fans globally
via the MelodyVR platform, strategic partnerships, sponsorship
agreements and branded content opportunities have the potential to
increase revenue generation and drive MelodyVR brand awareness.
This agreement with IRG represents an exciting opportunity to
cross-promote two successful music brands and is a testament to the
continued growth of virtual reality and the progress of our own
MelodyVR platform since launch.
We believe that MelodyVR's original content and experiences will
represent a key tool of choice for brands and agencies looking to
form a deeper connection with an engaged and technology-focused
audience, comprised of music fans from all over the world. I look
forward to announcing more commercial partners in due course, as
well as to providing an update as to our upcoming live-events."
- Ends -
For further information please contact:
EVR Holdings plc
Anthony Matchett, Executive Chairman Tel: +44 (0) 203 289 7430
& CEO
Sebastian Theron, Chief Financial www.evrholdings.com
Officer
Tel: +44 (0) 207 597 5970
Investec Bank plc: Nominated Adviser,
Financial Adviser and Corporate
Broker
Corporate Finance: David Anderson
/ Junya Iwamoto
Corporate Broking: Sara Hale /
Helene Comitis
Notes to Editors:
MelodyVR is a wholly owned subsidiary of EVR Holdings plc
('EVR'), a company that is listed on the AIM market of the London
Stock Exchange under the ticker EVRH.L. EVR, a creator of virtual
reality content, joined AIM on 16 May 2016 following a reverse
takeover of Armstrong Ventures plc. Further information can be
viewed at www.evrholdings.com and www.melodyvr.com
For more information on Melody VR, please visit:
www.melodyvr.com
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END
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