SOLO.L Regulatory News (SOLO)

10 Dec 2007 07:01

Immersion Technologies Intl PLC10 December 2007 Press Release 10 December 2007 Immersion Technologies International plc ("Immersion" or "ITI") First Consignment of Nakamichi ESL Dragons Completed Appointment of Chief Operating Officer Further to the announcement on 19 November 2007, Immersion is now pleased toconfirm that the first consignment of Nakamichi ESL Dragon product has completedfinal inspection, is ready to ship and is awaiting collection by Nakamichi fromImmersion's facility in Nanjing, China. This represents a significant milestonefor Immersion as full production has now been approved. Meanwhile discussionsconcerning the commissioning of further product lines are also continuing. Separately, Immersion is very pleased to confirm the appointment of Mr. Arie vanden Broek as Chief Operating Officer. Most recently, Arie was General Manager ofNakamichi Corporation's Singapore office, so his knowledge and experience willbe crucial as Immersion seeks to build on its existing commercial relationshipwith Nakamichi. Before joining Nakamichi, Arie spent 15 years working in a variety of sales andmarketing roles in the electronics and consumer goods sectors, including SkywareRadio Systems, Behringer and AEG. He also has considerable experience ofrunning businesses with newly established manufacturing operations. Craig Evans, Chief Executive of Immersion, said: "We have always aspired to be more than merely a company with excitingtechnology and licensing potential. Today's news takes us from potential toreality, as a key customer pays real money for a real product. Combining anexciting and unique audio technology with the ability to mass produce speakersin which it is incorporated is a powerful combination, which should proveattractive to large electronics organisations. Commenting on the appointment of Arie van den Broek, he added: "Arie's expertise and experience will be invaluable in marketing Immersion'stechnological and manufacturing prowess. He knows all the pitfalls in sellingproduct to large organisations and brings with him an extensive network of highlevel industrial contacts." Enquiries: Immersion Technologies International plcCraig Evans / Blair Snowball +44 (0)20 7016 5107 Pelham Public RelationsArchie Berens +44 (0)20 7743 6679 St. Helens Capital - BrokerRuari McGirr +44 (0)20 7628 5582 Nabarro Wells - Nominated AdviserHugh Oram / Anthony Rowland +44 (0)20 7710 7400 NOTES FOR EDITORS Background Information on Immersion Immersion is an audio technology company with patented and patent pendingtechnologies relating to both its high performance electrostatic loudspeakers (''ESL'') and award-winning conventional cone loudspeakers (''CCL''). The Immersion Technology has been researched and developed for over 10 years andhas been designed with the intention to provide the highest possible audioreproduction characteristics and set a new standard to benchmark thesecharacteristics. Immersion has achieved what the Immersion Directors considerto be a new level of high definition acoustics and has made an application toregister the trade mark High Definition - Acoustics HD-A(R) , to reflect thisstandard internationally. The Immersion Technology reduces audio distortion to extremely low levels thusenhancing clarity without compromising volume in both ESL and CCL loudspeakers. Immersion has the ability to manufacture ESL devices in thin, smallaesthetically pleasing designs. In addition, the technology is proven to bescalable and can be incorporated into speakers of almost any size or shape. TheImmersion Directors believe that these factors will provide a significantmarketing advantage in the competitive market for audio reproduction devices. Background on Nakamichi Corporation Nakamichi Corporation is one of the world's premier manufacturers of highquality, high performance audio/video and multimedia equipment. Long renownedfor the sophistication of its home audio and mobile sound systems, Nakamichicontinues to introduce leading edge products that are widely availablethroughout the world. The Nakamichi name represents a long, proud tradition of quality and innovationin acoustics and electronics. Today's Nakamichi had its origin in the foundingof a small research institute in 1948. Nakamichi Research, as it was thencalled, got its start in basic research and development in electromagnetism,magnetic recording, acoustics and communications. This information is provided by RNS The company news service from the London Stock Exchange