EVR Holdings PLC Update to Agreement with Facebook Technologies LLC (8581N)

TIDMEVRH

RNS Number : 8581N

EVR Holdings PLC

23 January 2019

 
  23 January 2019 
 

EVR Holdings plc

('EVR' or the 'Company')

Update to Agreement with Facebook Technologies, LLC

EVR Holdings plc (AIM: EVRH), a leading creator of virtual reality content, is pleased to announce that its subsidiary MelodyVR Ltd ("MelodyVR") has entered into an addendum to its distribution agreement between MelodyVR Limited, and Facebook Technologies, LLC f/k/a Oculus VR, LLC ("Oculus") (the "Agreement").

As part of the Agreement, the Company will release a new version of the MelodyVR music platform, featuring updated features and functionality, for use on a forthcoming Oculus Device. The Company will receive a financial contribution to offset MelodyVR's production and development costs as part of the Agreement. The new version of the MelodyVR platform will contain both new and existing content, and will offer a similar look and feel to the version currently available on Oculus Go and Samsung Gear VR, with enhanced functionality. Following the launch, the product may also be made available on other platforms.

Anthony Matchett, CEO of EVR Holdings, said: "As VR technology continues to rapidly develop, we're excited to add new features and functionality to the MelodyVR platform and for Oculus to release new hardware, which will no-doubt lead to increased user adoption of VR devices. We look forward to working with Oculus throughout 2019 and appreciate their partnership and support to-date."

For further information please contact:

EVR Holdings plc

Anthony Matchett, Executive Chairman & CEO Tel: [phone]

Andy Brown, Chief Financial Officer www.evrholdings.com

Investec Bank plc: Nominated Adviser, Financial Adviser Tel: [phone]

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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January 23, 2019 02:00 ET (07:00 GMT)