Acquisition Update: Vestigo Technologies Ltd
*** PLEASE BE ADVISED THAT THIS ANNOUNCEMENT IS BEING REPUBLISHED TO FACILITATE DISPLAY ON THIRD PARTY VENDOR SCREENS. THIS ANNOUNCEMENT WAS ORIGINALLY PUBLISHED AT 10:54 on 15 MAY 2023. ALL CONTENT BELOW REMAINS UNCHANGED. ***
Helium Ventures plc
(“Helium Ventures” or the “Company”)
Acquisition Update: Vestigo Technologies Ltd
Helium Ventures plc (AQSE:HEV), a special purpose acquisition vehicle, is pleased to announce an update on the trading of Vestigo Technologies Ltd. On 7 October 2022, Helium Ventures announced, that it had conditionally agreed to acquire Vestigo Technologies Ltd. (“Trackimo”), which owns and distributes its advanced tracking software product, Trackimo™ and associated hardware business and intellectual property, through an acquisition (the “Proposed Acquisition”).
Acquisition Update
The Company is pleased to report that progress has been made on the Proposed Acquisition and as due diligence on Trackimo is largely complete, the Company expects to finalise and agree the final terms of the sale and purchase agreement shortly.
The outlook and timing for the Proposed Acquisition is subject to the completion of the remaining due diligence, shareholder approval, and successful admission of the Company’s ordinary shares on the Standard Segment of the London Stock Exchange and the Company is working diligently to ensure a timely and successful outcome.
The Company intends to delist from the AQSE Access Growth Market and, following or concurrent with completion of its application and admission to trading on the Standard Segment of the London Stock Exchange, will consider applying for admission to trading on the AQSE Main Market.
Helium Ventures plc looks forward to providing further updates to its shareholders as the acquisition progresses.
Trackimo Trading Update
The business and trading of Trackimo has been positive with the recent launch of a new innovative product - the NickWatch, a new connected smartwatch under license agreement with the popular kids’ brand Nickelodeon, now available and suitable for kids aged six to nine. Offering a wealth of entertainment based on Nickelodeon’s iconic and award-winning characters, the brand new NickWatch features a variety of games, dances, crafts, music, safe connectivity, communication and customisation, all in one accessory for kids.
NickWatch has been developed by the team at Watchinu Ltd. ("WatchinU"), a company jointly owned by Trackimo and Beta Gazella Media Ltd. (majority held by Viacom (Paramount Global) through a partnership named Gazella New Media Experience L.P.) and will be operated via a licensee agreement with Paramount Global, Nickelodeon’s parent company.
The connected smartwatch features characters from a range of Nickelodeon series including Teenage Mutant Ninja Turtles, SpongeBob SquarePants and more. NickWatch also allows parents to monitor their child’s use of the watch and most importantly, keep track of their child’s location via the ‘NickWatch Caretaker App’.
Trackimo trading in Q1 2023 is strong with Amazon unit sales at record levels in March 2023. With the launch of the NickWatch and the upcoming Trackimo Pet Tracker, the business is on track to show double digit growth from 2022 sales.
At the recent launch of the NickWatch, Udi Miron, CEO at WatchinU said: “NickWatch is set to shake-up the wearables market with some of the animation world’s most iconic and loved characters incorporated into the experience – from SpongeBob to Teenage Mutant Ninja Turtles, the NickWatch delivers an experience combining imaginative play and peace of mind for parents and carers.”
Doug Rosen, Senior Vice President, Games & Emerging Media, Paramount Global commented: “We are delighted that WatchinU is launching a new connected smartwatch harnessing the power of our consumer brands and that our iconic Nickelodeon characters will be used to help kids embrace technology and create immersive experiences that unlock a world full of imagination, creativity and connectivity.”
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company accept responsibility for the contents of this announcement.
ENDS
Enquiries:
| Helium Ventures plc | |
| Neil Ritson | +44 (0) 20 3475 6834 |
| Cairn Financial Advisers LLP (AQSE Corporate Adviser) | |
| Liam Murray / Ludovico Lazzaretti | +44 (0) 20 72130 880 |
For more information please visit: www.heliumvs.com
Note:
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 a guarantee 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.
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