EVR Holdings PLC Issue of Equity (3142N)

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RNS Number : 3142N

EVR Holdings PLC

24 October 2016

 
For immediate release   24 October 2016 
 

EVR Holdings plc

('EVR' or the 'Company')

Issue of Equity

The Board of EVR Holdings plc (AIM: EVRH) announces that the Company has today allotted and issued 1,280,172 new ordinary shares of 1p each ("Ordinary Shares"), following the exercise of 1,280,172 of the warrants that were issued in July 2015 ("Warrants"). The exercise price is 1.4p per Ordinary Share and the gross proceeds of exercise amounted in aggregate to GBP17,922, which provides additional working capital for the Company.

Following the warrant exercise, the number of warrants outstanding is as follows:

   Number                               Exercise Price                    Expiry Date 
   27,129,306                           1.4p                                       31 July 2018 
   59,777,856                           1.1p                                       16 May 2019 
   33,333,324                           1.85p                                     16 October 2019 
     9,230,180                           1.2p                                       31 July 2020 

The Company has made application for the 1,280,172 new Ordinary Shares to be admitted to trading on AIM. Admission is expected to occur on or about 28 October 2016. The new ordinary shares rank pari passu with the existing ordinary shares.

For the purpose of the Disclosure and Transparency Rules, the Company's total issued ordinary share capital at the date of this announcement consists of 937,699,004 ordinary shares of 1p each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

- Ends -

For further information:

 
EVR Holdings plc 
Sean Nicolson, Chairman                                   Tel: [phone] 
                                                                          5000 
Anthony Matchett, Chief                                    www.evrholdings.com 
 Executive Officer 
 
SPARK Advisory Partners Limited (Nominated 
 Adviser) 
Neil Baldwin / Sean Wyndham-Quin                          Tel: [phone] 
                                                                          3550 
                                                 www.sparkadvisorypartners.com 
 
Peterhouse Corporate Finance Limited (Broker)             Tel: [phone] 
                                                                          0930 
Eran Zucker / Lucy Williams                                   www.pcorpfin.com 
 
 

Media enquiries:

 
Buchanan 
Henry Harrison-Topham / Jamie  Tel: [phone] 
 Hooper                                        5000 
 Stephanie Watson / Catriona 
 Flint 
[e-mail]             www.buchanan.uk.com 
 

Notes to Editors:

MelodyVR

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

Virtual Reality in 2016

The virtual reality industry is growing at a significant rate and 2016 is on course to be the breakout year with launches of Oculus Rift, Playstation VR and HTC Vive. According to Deloitte the industry is expected to break the US$1bn barrier for the first time this year and Goldman Sachs estimate that the market could be worth US$80bn by 2025.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

October 24, 2016 09:24 ET (13:24 GMT)