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Share Name Share Symbol Market Type Share ISIN Share Description
Vr Education Holdings Plc LSE:VRE London Ordinary Share IE00BG0HDR01 ORD EUR0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.50 11.54% 14.50 14.00 15.00 14.50 13.50 13.50 99,766 13:44:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 0.9 -1.6 -0.8 - 35

VR Education Holdings PLC Launch of ENGAGE Mobile

02/07/2020 7:00am

UK Regulatory (RNS & others)


Vr Education (LSE:VRE)
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TIDMVRE

RNS Number : 7807R

VR Education Holdings PLC

02 July 2020

 
 For immediate release   2 July 2020 
 

VR Education Holdings plc

('VR Education' or the 'Group')

Launch of ENGAGE Mobile

VR Education (AIM: VRE; Euronext Growth: 6VR), a leading virtual reality ('VR') technology company focused on the education and enterprise training space, is pleased to announce the launch of ENGAGE Mobile, an android phone and tablet supported version of the Group's proprietary VR communications, events and training platform. ENGAGE Mobile will be available to download from the company's website (https://immersivevreducation.com) at 2pm UK time today.

As notified on 16 June 2020 in the Group's final results announcement, the ENGAGE user base grew significantly in the latter part of 2019 due to increased access to affordable standalone devices. As a result, the ENGAGE platform is currently being used by educators and enterprise clients across the globe to host classes, meetings and events, including the 2020 HTC Vive Ecosystem Conference in March 2020. Following the success of that event, the Group has received numerous requests for virtual events from a wide range of corporations and event groups.

The launch of ENGAGE Mobile will enable the Group to meet this new demand, and furthermore, significantly increases the number of potential users given the widespread global usage of mobile phones and tablet computers. Unlike video-based platforms, the spatial nature of the ENGAGE experience means that users can interact directly with each other, allowing users to have hallway conversations at virtual events or hold large meetings more naturally than what is currently provided via existing video platforms.

ENGAGE Mobile supports all flagship Android devices with iOS and iPhone versions becoming available later this year. ENGAGE Mobile is cross platform supported with all VR devices allowing users to connect regardless of the device they own.

Commenting on the launch of ENGAGE Mobile, David Whelan, CEO of VR Education, said:

"I am delighted to announce that ENGAGE is now available on mobile phones and tablets, opening up a completely new market to us in this difficult time. Our ENGAGE platform has been a trail blazer for some time now in the Extended Reality ("XR") space, however our market was limited to VR devices. Now we have a tool that provides a completely different way of communicating in a world that has been forced online because of COVID-19. ENGAGE offers services that simply cannot take place on video-based platforms and we are seeing many events being held inside ENGAGE as event organisers seek alternatives to static video presentations and educators and corporations are also using the platform to provide classes and meeting rooms. The Company is excited to enter this new mobile market as we scale usage of the platform for the remainder of 2020 and beyond."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

- Ends -

For further information, please contact:

 
 VR Education Holdings plc                              Tel: +353 87 665 6708 
  David Whelan, CEO                           contact@vreducationholdings.com 
  Sandra Whelan, COO 
 
   Cairn Financial Advisers LLP (Nominated               Tel: +44 (0) 20 7213 
   Adviser)                                                              0880 
   James Caithie / Liam Murray / Ludovico 
   Lazzaretti 
 
   Shard Capital Partners LLP (Joint                     Tel: +44 (0) 20 7186 
   Broker)                                                               9952 
   Damon Heath / Erik Woolgar 
 
   Davy (Joint Broker & Euronext Growth                  Tel: +353 1 679 6363 
   Advisor) 
   Fergal Meegan / Ronan Veale / Barry 
   Murphy 
 
   Buchanan (Financial PR)                           Tel: +44 (0)20 7466 5000 
   Henry Harrison-Topham / Chris Lane                     VRE@buchanan.uk.com 
   / Tilly Abraham 
 
 

Notes to Editors

VR Education, together with its wholly owned subsidiary, is an early stage VR software and technology group based in Waterford, Ireland, dedicated to transforming the delivery methods of education and corporate training by utilising VR technologies to deliver fully immersive virtual learning experiences. The Group's core focus is the development and commercialisation of its online virtual social learning and presentation platform called ENGAGE, which provides a platform for creating, sharing and delivering proprietary and third-party VR content for educational and corporate training purposes.

In addition to the ongoing development of the ENGAGE platform, the Group has also built two downloadable showcase VR experiences, being the award-winning Apollo 11 VR experience and the Titanic VR experience.

On 12 March 2018, VR Education listed on the AIM market of the London Stock Exchange and on the Enterprise Securities Market, a market regulated by Euronext Dublin. For further information, please visit www.vreducationholdings.com .

Forward-Looking Statements

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 guarantees 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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