Sure Ventures PLC Investee Company, Immotion, Lists on AIM (3564U)
July 12 2018 - 2:01AM
UK Regulatory
TIDMSURE
RNS Number : 3564U
Sure Ventures PLC
12 July 2018
SURE VENTURES PLC / ISIN: GB00BYWYZ460 / Ticker: SURE / Market:
SFS / Sector: Investment
12 July 2018
SURE VENTURES PLC ('Sure' or 'the Company')
Investee Company, Immotion, Lists on AIM
SURE VENTURES PLC (SURE), a venture capital fund which invests
in early stage software companies in the rapidly growing financial
technology ('FinTech'), augmented reality ('AR'), virtual reality
('VR'), and Internet of Things ('IoT') sectors, is pleased to
announce that its first direct investee company, Immotion Group PLC
('Immotion'), listed on AIM today having raised GBP5.75 million
through an oversubscribed placing.
Immotion is a UK-based company focused on becoming a leading
participant in the 'Out of Home' VR experience market by creating
and publishing high quality VR content and combining it with its VR
motion platforms to create truly immersive experiences. Given that
this sector is forecast to grow seven-fold to $8bn by 2022,
Immotion is well placed to capitalise on its position as a key
player in the space; it is already generating revenues through
sales with leisure and entertainment operators, concession partners
such as Merlin Entertainments, and owned and franchised
outlets.
On 24 April 2018 Sure announced that it had invested GBP500,000
in Immotion at a pre-money valuation of GBP8 million. Sure is
pleased to inform investors that Immotion's placing and admission
to trading on AIM has today been successfully concluded (Ticker
IMMO.L).
Immotion raised GBP5.75 million (gross proceeds) to scale its
out of home VR content and platform roll out. The pre-money
valuation achieved in the significantly over-subscribed placing was
GBP13 million, which represents an unrealised gain of circa 60% on
Sure's initial investment.
Sure Director, Gareth Burchell, said, "Having invested in
Immotion in April this year, we are delighted that it has now
listed on AIM, which will further raise its profile and fast-track
its strategy focused on building the business across the UK, Europe
and the USA. The placing was significantly oversubscribed,
providing further confidence in the sector given that other
professional investors have also recognised the opportunity that
this company offers. It operates in a buoyant sector and is one of
the few companies in its target markets providing out of home VR
experiences. We look forward to watching its progress with
interest."
ENDS
For further information, please visit www.sureventuresplc.com or
contact:
Gareth Burchell Sure Ventures plc +44 (0) 20 7186 9918
Isabel de Salis / Priit St Brides Partners (Financial
Piip PR) +44 (0) 20 7236 1177
Immotion immotion@redleafpr.com +44 (0) 20 3757 6880
Notes to editors:
Sure Ventures plc listed on the London Stock Exchange in January
2018, giving retail investors access to an asset class that is
usually dominated by private venture capital funds. The Company
aims to provide investors with a diversified exposure to three
rapidly-growing markets: augmented reality/virtual reality, FinTech
and Internet of Things. Sure is focusing on companies in the UK,
Republic of Ireland and other European countries, making seed and
series A investments in companies with first rate management teams,
products which benefit from market validation with target revenue
run rates of at least GBP400,000 over the next 12 months.
Website: https://www.sureventuresplc.com/
About Immotion
Immotion is UK-based company focused on creating superior
out-of-home immersive virtual reality experiences in Europe and the
USA.
Website: http://www.immotiongroup.com/
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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