London Stock Exchange welcomes VR Education Holdings to AIM
VR Education plc ('VRE'), a leading virtual reality ('VR') technology company focused on the education space, was today welcomed to the London Stock Exchange to celebrate its successful admission to AIM under the ticker VRE.
VRE's core business is a social education and presentation platform called ENGAGE, which enables educators and corporate trainers to create and hold meetings, classes, private lessons and presentations with people from around the world in a safe virtual multi user environment. It has already worked closely with leading institutions including the BBC and Oxford University, and has also developed a portfolio of revenue generative showcase content including Apollo 11 VR, which has won numerous global accolades, and Titanic VR.
VRE successfully completed a significantly oversubscribed funding, raising £6 million, giving it a market capitalisation at Admission of c.£19.3m. The Company is now focused on expanding its development and executive team, opening a London office and raising its profile to drive more users to its ENGAGE platform.
CEO, David Whelan, says:
"The AR/VR market is growing at a fast rate; as hardware becomes more affordable, this growth will undoubtedly gain further traction and we are at the forefront of this.
"As a disruptive VR software and technology group operating in the niche education sector, we provide students, educators and corporate trainers with a real alternative to attending brick and mortar institutes; benefits include cost-savings and course completion rates amongst others. Having raised £6 million and with the support of our new shareholders, our focus is now on strengthening our network of educational institutions and corporations, which already includes the likes of Oxford University and the BBC, and building our sales team to roll-out and position ENGAGE as the go-to platform of choice for digital education and simulated training globally. Furthermore, we aim to strengthen our portfolio of compelling content, replicating the success of our revenue generating, award-winning experiences including Apollo 11 VR and Titanic VR, whilst also helping others to create content for their own lessons.
“Given the anticipated high volume of activity and steady stream of news ahead, I am confident that we will deliver value to shareholders.”
The Company has a secondary listing on the ESM of the Irish Stock Exchange under the ticker 6VR. Shard Capital Partners LLP is AIM Broker to the Group, Cairn Financial Advisers LLP is acting as AIM Nominated Adviser, while Davy is ESM Broker and acting as ESM Nominated Adviser.