DJ Primorus Investments PLC StreamTV Investor Update
RNS Number : 7113G
Primorus Investments PLC
08 November 2018
Primorus Investments plc
("Primorus" or the "Company")
StreamTV Investor Update Received
Primorus Investments plc (AIM: PRIM, NEX: PRIM) is pleased to provide shareholders with an update on its investment in Stream TV Networks ("StreamTV") by way of an investor update received by Primorus from StreamTV. Primorus has invested US$200,000 with attaching free 2 for 1 warrants. Through its wholly-owned research subsidiary, SeeCubic B.V., StreamTV has developed breakthrough glasses-free 3D display technology launched under the trade name Ultra-D.
This update follows on from information provided in the Primorus Q3 Report and is in advance of the Ultra-D global launch in Beijing. Please note that much of the specific content of the StreamTV Quarter 3 Report is deemed commercial in confidence however Stream have kindly allowed us to transmit some of the information for the benefit of Primorus shareholders.
-- Beijing Optical and Electrical ("BOE"), the world's largest flat panel manufacturer, to finance the Ultra-D product supply chain initially focusing on large panel 8K televisions and PC Monitors as well as 4K tablets and smart phones.
-- Product planning and brand engagement in conjunction with BOE has commenced for over a dozen of the world's largest panel consumers and technology vendors from Korea, Japan, China and the United States.
-- Subject to financing, StreamTV expects significant volumes of 65" TV's and 27" PC Monitors to begin entering the market in Q2 2019.
-- In the globally significant Computer Gaming market a majority of the top 20 gaming content producers are ready to integrate on the software side immediately and work on the first hardware device with a large global player has commenced.
-- Following recent meetings and demonstrations, many Hollywood and Asian film studios have expressed interest in applying the Ultra-D software technology to their existing and future content libraries.
Alastair Clayton, Executive Director, commented:
"It is very exciting for shareholders to start to see the huge potential of the Ultra-D product begin to coalesce into a credible commercialisation strategy that should see the technology as a standard feature in TV displays and hand-held devices which we expect will commence from Q2 2019. Through its agreement with BOE, StreamTV has now secured the massive supply chain needed to bring this exciting technology to consumers globally from 2019.
As mentioned we are limited in the specifics of what we can say in terms of naming many of the prospective panel and technology vendors who are in discussions regarding numbers of product pre-orders and other technology tie-ups however it is fair to say that many household names in televisions, monitors, laptops, smartphones and tablets are represented at some level.
Much of the delivery timetable discussed is contingent on successful completion of the current funding round however given the level of industry interest in the products we are confident the funding round will be completed in the near-term. As mentioned previously, we expect to be able to provide shareholders with information regarding the upcoming global product launch with BOE in Beijing in the coming weeks.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Primorus Investments plc: +44 (0) 20 7440 0640 Alastair Clayton Nominated Adviser: +44 (0) 20 7213 0880 Cairn Financial Advisers LLP James Caithie / Sandy Jamieson Broker: +44 (0) 20 3621 4120 Turner Pope Investments Andy Thacker
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(END) Dow Jones Newswires
November 08, 2018 02:01 ET (07:01 GMT)