Helium Ventures Plc Acquisition Update: Vestigo Technologies Ltd

 
TIDMHEV 
 
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                              Helium Ventures plc 
                     ("Helium Ventures" or the "Company") 
 
                 Acquisition Update: Vestigo Technologies Ltd 
 
 
Helium Ventures plc (AQSE:HEV), a special purpose acquisition vehicle, is 
pleased to announce an update on the trading  of Vestigo Technologies Ltd.  On 
7 October 2022, Helium Ventures announced, that it had conditionally agreed to 
acquire Vestigo Technologies Ltd. ("Trackimo"), which owns and distributes its 
advanced tracking software product, TrackimoT and associated hardware business 
and intellectual property, through an acquisition (the "Proposed Acquisition"). 
 
Acquisition Update 
 
The Company is pleased to report that progress has been made on the Proposed 
Acquisition and as due diligence on Trackimo is largely complete, the Company 
expects to finalise and agree the final terms of the sale and purchase 
agreement shortly. 
 
The outlook and timing for the Proposed Acquisition is subject to the 
completion of the remaining due diligence, shareholder approval, and successful 
admission of the Company's ordinary shares on the Standard Segment of the 
London Stock Exchange and the Company is working diligently to ensure a timely 
and successful outcome. 
 
The Company intends to delist from the AQSE Access Growth Market and, following 
or concurrent with completion of its application and admission to trading on 
the Standard Segment of the London Stock Exchange, will consider applying for 
admission to trading on the AQSE Main Market. 
 
Helium Ventures plc looks forward to providing further updates to its 
shareholders as the acquisition progresses. 
 
Trackimo Trading Update 
 
The business and trading of Trackimo has been positive with the recent launch 
of a new innovative product - the NickWatch, a new connected smartwatch under 
license agreement with the popular kids' brand Nickelodeon, now available and 
suitable for kids aged six to nine. Offering a wealth of entertainment based on 
Nickelodeon's iconic and award-winning characters, the brand new NickWatch 
features a variety of games, dances, crafts, music, safe connectivity, 
communication and customisation, all in one accessory for kids. 
 
NickWatch has been developed by the team at Watchinu Ltd. ("WatchinU"), a 
company jointly owned by Trackimo and Beta Gazella Media Ltd. (majority held by 
Viacom (Paramount Global) through a partnership named Gazella New Media 
Experience L.P.) and will be operated via a licensee agreement with Paramount 
Global, Nickelodeon's parent company. 
 
The connected smartwatch features characters from a range of Nickelodeon series 
including Teenage Mutant Ninja Turtles, SpongeBob SquarePants and more. 
NickWatch also allows parents to monitor their child's use of the watch and 
most importantly, keep track of their child's location via the 'NickWatch 
Caretaker App'. 
 
Trackimo trading in Q1 2023 is strong with Amazon unit sales at record levels 
in March 2023.   With the launch of the NickWatch and the upcoming Trackimo Pet 
Tracker, the business is on track to show double digit growth from 2022 sales. 
 
At the recent launch of the NickWatch, Udi Miron, CEO at WatchinU said: 
"NickWatch is set to shake-up the wearables market with some of the animation 
world's most iconic and loved characters incorporated into the experience - 
from SpongeBob to Teenage Mutant Ninja Turtles, the NickWatch delivers an 
experience combining imaginative play and peace of mind for parents and 
carers." 
 
Doug Rosen, Senior Vice President, Games & Emerging Media, Paramount Global 
commented: "We are delighted that WatchinU is launching a new connected 
smartwatch harnessing the power of our consumer brands and that our iconic 
Nickelodeon characters will be used to help kids embrace technology and create 
immersive experiences that unlock a world full of imagination, creativity and 
connectivity." 
 
This announcement contains inside information for the purposes of the UK Market 
Abuse Regulation and the Directors of the Company accept responsibility for the 
contents of this announcement. 
 
                                     ENDS 
 
Enquiries: 
 
Helium Ventures plc 
 
Neil Ritson                                [phone] 
 
Cairn Financial Advisers LLP (AQSE 
Corporate Adviser) 
 
Liam Murray / Ludovico Lazzaretti          [phone] 
 
For more information please visit: www.heliumvs.com 
 
Note: 
 
Certain statements made in this announcement are forward-looking statements. 
These forward-looking statements are not historical facts but rather are based 
on the Company's current expectations, estimates, and projections about its 
industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 
'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions 
are intended to identify forward-looking statements. These statements are not a 
guarantee of future performance and are subject to known and unknown risks, 
uncertainties, and other factors, some of which are beyond the Company's 
control, are difficult to predict, and could cause actual results to differ 
materially from those expressed or forecasted in the forward-looking 
statements. The Company cautions security holders and prospective security 
holders not to place undue reliance on these forward-looking statements, which 
reflect the view of the Company only as of the date of this announcement. The 
forward-looking statements made in this announcement relate only to events as 
of the date on which the statements are made. The Company will not undertake 
any obligation to release publicly any revisions or updates to these 
forward-looking statements to reflect events, circumstances, or unanticipated 
events occurring after the date of this announcement except as required by law 
or by any appropriate regulatory authority. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 26, 2023 09:00 ET (13:00 GMT)