MelodyVR Group PLC - London-based virtual reality content and music streaming - Calls general meeting for February 25 to approve changing its name to Napster Group PLC. The rebranding follows MelodyVR's USD70 million reverse takeover of Rhapsody International Inc, which owned Napster, a pioneer of music streaming. MelodyVR calls the Napster "the original music industry disruptor", saying its global music streaming service has over 1.1 million paying subscribers and 5 million total users.
"Given our objectives for the year ahead, which includes the launch of a new Napster-branded music platform, we believe that renaming our company will provide for greater global recognition of our business across both corporate and commercial channels," says Chief Executive Officer Anthony Matchett.
Current stock price: 3.06 pence
Year-to-date change: down 21%
By Tom Waite; thomaslwaite@alliancenews.com
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