Final Results for the Period Ended 31 December 2017

29 June 2018

VR Education Holdings plc (AIM: VRE; ESM: 6VR), a leading virtual reality ('VR') technology company focused on the education space, today announces, in accordance with regulatory requirements, the publication of the financial statements of the Company for the 80 day period from incorporation (13 October 2017) to 31 December 2017.

Shareholders should note that these financial statements refer to the Group's holding company, prior to both the acquisition of Immersive VR Education Limited (‘IVRE') which occurred on 12 March 2018, and the admission of the Group to trading on AIM. Therefore, they do not give an indication of the current financial position or trading of VR Education Holdings plc.

The Company also announces the results of its key trading subsidiary IVRE for the year ended 31 December 2017.

Post period end highlights

  • Acquisition of IVRE, a leading virtual reality ('VR') technology company focused on the education space in a common control share-for-share transaction on 12 March 2018.
  • Successful Admission of VR Education Holdings plc to AIM on 12 March 2018 raising £6.0 million before expenses through an oversubscribed placing of 60,000,000 new ordinary shares at a placing price of 10 pence each.
  • Part 2 of Titanic VR, one of the Group's VR showcase experiences, which places users on the world's most famous ship on the night of the sinking to allow them to experience the tragic events and also allows users to dive on the shipwreck as it looks today, will be ready in beta form by the end of June 2018. This product will be commercially available to the general public from August 2018.
  • Titanic VR (Part 2) will be released on PC, Oculus Rift, HTC Vive, and Windows Mixed Reality first with a later PlayStation VR version becoming available some weeks later. Additional versions will be announced at a later date (Titanic VR (Part 1), has already been released and is commercially available as early access software).
  • The Group's work with the BBC on a project titled 1943: Berlin Blitz - (BBC's most fearless World War II report brought to life in VR) will be released in Q3 2018. This VR showcase experience is an accurate retelling of the events which happened inside a Lancaster bomber during one of the most well documented missions of World War II using original cockpit audio recorded 75 years ago. It is expected to be released on the Oculus Rift, HTC Vive, Oculus Go, Google Daydream, Samsung Gear VR and Windows Mixed Reality platforms.
  • The Group has made three key strategic hires including a new Chief Technology Officer and two experienced business developers who have already started to progress a number of enquiries that the Group has received since its IPO in March 2018.
  • Completed the production of a series of VR lectures on ENGAGE with Oxford University, which can be used for marketing the Group's capabilities going forward.

Commenting on the results, David Whelan, Chief Executive Officer of VR Education, said:

"The results of IVRE reflect the continuing development of the ENGAGE platform as well as the Group's other VR experiences. The Board continues to be confident in the future development of VR Education and we look forward to updating the market further when we publish our Interim Results for the Group in the week commencing 17 September 2018."

Copies of the report and accounts for each of Immersive VR Education Limited and VR Education Holdings Plc are being posted to shareholders today and will be available on the Company's website,


For further information, please contact:

VR Education Holdings plc
David Whelan, CEO
Sandra Whelan, COO

Tel: +353 87 665 6708
[email protected]

Cairn Financial Advisers LLP(Nominated Adviser)
James Caithie / Liam Murray / Richard Nash

Tel: +44 (0) 20 7213 0880

Shard Capital Partners LLP(Joint Broker)
Damon Heath / Erik Woolgar

Tel: +44 (0) 20 7186 9952

Davy(Joint Broker & ESM Adviser)
Fergal Meegan / Ronan Veale / Barry Murphy

Tel: +353 1 679 7788

Buchanan(UK Financial PR)
Henry Harrison-Topham / Chris Lane / Tilly Abraham

Tel: +44 (0)20 7466 5000
[email protected]

Wilson Hartnell(Irish Corporate PR)
Peter O'Brien / Frans Van Cauwelaert

Tel: +353 1 669 0030
peter.o'[email protected]
[email protected]


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