VRE.L Share News (VRE)

(Alliance News) - VR Education Holdings PLC on Wednesday announced it has signed numerous contracts to host virtual events through its remote virtual events platform called Engage and plans its debut in Greater China for later this year.

The technology company focused on the education and enterprise training space hosted a successful live virtual event for the US-based Xprize Foundation on Monday.

The company said it will provide updates on other events planned for this quarter once they have been concluded.

Additionally, VR Education has made numerous sales to various customers in the US for its Engage platform including Facebook Inc, the United States Air Force Academy, University of Arizona, Colorado State University, SNCF, Lobaki, Houston Community College and Stanford University.

Chief Executive David Whelan said: "From the second quarter onwards we have seen accelerated adoption of our platform as it became apparent that educational institutes and businesses would need to work and communicate remotely for many months to come as the pandemic spread.

"Much of our continued growth has been in the US as this region has been hit the hardest. We expect this growth to continue as we come towards the back half of this year and as we make Engage available inside the Greater China region for the first time with our business partner HTC."

The company's interim results for the first half ended June 30 will be made available on September 10.

VR Education shares were up 19% at 13.0 pence each in London on Wednesday morning.

By Greg Roxburgh; gregroxburgh@alliancenews.com

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