Result of AGM, Trading Update & Total Voting Right
29/06/2023 11:15
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RNS Number : 4005E Let's Explore Group PLC 29 June 2023
29 June 2023
Let's Explore Group PLC
("LETS", the "Company" or the "Group")
Result of AGM, Trading Update, Acquisition Update and Total Voting Rights
Result of AGM
The Company is pleased to announce that at its Annual General Meeting held
earlier today all resolutions were duly passed.
Trading Update
Let's Explore Group plc is pleased to confirm that, following the conclusion
of the tender offer, announced on 5 June 2023, the Company's cash reserves are
circa £7m (this excludes the interest-bearing loan note of $1.25m due on 28
February 2024 from the buyers of the Location Based Entertainment business).
The Company's retained Home Based Entertainment business has received two
orders for the Vodiac headsets from QVC USA, and QVC UK, for their 'Christmas
in July' promotion. The majority of orders and business for both the Vodiac
and Let's Explore products is generated in the lead up to the Christmas
period, being Q3, and Q4.
In anticipation of this, we have now completed the development of three new
Let's Explore offerings; 'Let's Explore Oceans', 'Let's Explore Space', and
'Let's Explore Wildlife - including Dinosaurs'. Each pack is focused on
delivering comprehensive immersive learning, coming complete with the new
improved smartphone-powered VR headset, a range of VR experiences, a
holographic cube which unlocks a selection of in-app augmented reality
experiences, a full-colour hardback fact book, a sticker book, a giant poster,
and an interactive model.
Acquisition Update
Since the disposal of the Location Based Entertainment business, the Group has
looked at several acquisition opportunities. It has now narrowed its focus and
has entered into preliminary due diligence on a possible target.
The Company will keep shareholders fully advised as matters progress.
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure and
Transparency Rules, the total number ordinary shares of 0.040108663 pence each
in the capital of the Company in issue ("Ordinary Shares") as at the date of
this notice is 190,849,873 with each share carrying the right to one vote.
There are no shares held in treasury.
Therefore, the total number of voting rights in the Company is 190,849,873.
The above figure may be used by shareholders in the Company as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the share capital
of the Company under the Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.
Enquiries:
For further information please visit www.LetsExploreGroup.com, or contact:
Let's Explore Group plc Martin Higginson investors@l (mailto:investors@letsexplore.com) etsexplore.com
(mailto:investors@letsexplore.com) (mailto:investors@letsexplore.com)
David Marks
Dan Wortley
Cenkos Securities plc Adrian Hadden Tel + 44 (0) 207 7397 8900
(Nomad and Sole Broker) Charlie Combe
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