EVR Holdings PLC MelodyVR signs agreement with Ibiza Rocks Group (3941F)

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: [phone] 
 & CEO 
Sebastian Theron, Chief Financial              www.evrholdings.com 
 Officer 
 
                                         Tel: [phone] 
 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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October 29, 2018 03:00 ET (07:00 GMT)