VR Education Holdings PLC Titanic VR PlayStation launch date confirmed (3952H)

TIDMVRE

RNS Number : 3952H

VR Education Holdings PLC

15 November 2018

 
 For immediate release   15 November 2018 
 

VR Education Holdings plc

('VR Education' or the 'Group')

Titanic VR PlayStation launch date confirmed

VR Education (AIM: VRE; ESM: 6VR), a leading virtual reality ('VR') technology company focused on the education space, announces that, further to the announcement of 26 October 2018, it has now received confirmation from PlayStation that Titanic VR, a showcase experience placing users on the Titanic on the night of the sinking, has been approved for launch on 22 November 2018. Whilst the Titanic VR showcase has already launched on PC, Oculus Rift, HTC Vive and Windows Mixed Reality, it is the PlayStation platform that is expected to generate a significant percentage of Titanic VR's sales, as was the case with the launch of the Apollo 11 VR showcase.

David Whelan, CEO of VR Education, said: "As previously announced, the PlayStation onboarding process for Titanic VR took longer than we originally expected, however, we are pleased to have received this confirmation from them. Importantly, the release will occur in the current financial year and will allow Titanic VR to have exposure on this major platform over the Christmas trading period. We will update the market in January 2019 as to the impact that this will have had on our FY-2018 revenues."

The Group's main focus remains the development and commercialisation of ENGAGE, its online virtual learning and corporate training platform. The commercial release of ENGAGE with full payment capabilities is progressing to plan and is scheduled to occur during December 2018.

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: [phone] 
  David Whelan, CEO                         [e-mail] 
  Sandra Whelan, COO 
 Cairn Financial Advisers LLP (Nominated          Tel: [phone] 
  Adviser) 
  James Caithie / Liam Murray / Richard 
  Nash 
 Stockdale Securities Limited (Joint              Tel: [phone] 
  Broker) 
  Andy Crossley / Ed Thomas 
 Davy (Joint Broker & ESM Adviser)                     Tel: [phone] 
  Fergal Meegan / Ronan Veale / Barry 
  Murphy 
 Buchanan (UK Financial PR)                        Tel: [phone] 
  Henry Harrison-Topham / Chris Lane                    [e-mail] 
  / Tilly Abraham 
 Fuller Marketing (Irish Corporate                    Tel: [phone] 
  PR)                                               [e-mail] 
  Ruth Fuller / Sheila Kelleher 
 

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 an early access version of the Group's 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.

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November 15, 2018 02:01 ET (07:01 GMT)