Suspension of Shares
Engage XR Holdings Plc has announced the suspension of its shares effective immediately due to a critical financial situation. The company's largest customer, which had renewed its commercial arrangements in May 2026, has communicated that it will not be taking any further licenses, meaning expected funds will not be received. Consequently, the board has determined that a court-approved liquidation is necessary, with no return expected for shareholders. This significant impact on the Group's financial position and prospects has led to the request for the trading suspension on AIM.
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ENGAGE XR Holdings Plc, a Metaverse / Spatial Computing technology company, announces further to its Final Results announced on 2 June 2026 that the Group’s largest customer which renewed its commercial arrangements with the Group in May 2026 has communicated to the Company that it will not be taking any licences going forward. The consequence of this is that the funds that were expected to be remitted to the Company pursuant to the contract will now not be received.
Following a board meeting held on 31 August 2026 and having regard to the Company’s financial position, the board has unfortunately determined that it needs to proceed with a court approved liquidation in accordance with Irish Law. It is currently not expected that this process would provide any return for shareholders.
Given the significant impact of the above on the Group’s financial position and prospects, the Company has requested a suspension in the trading of its shares on AIM which will become effective from 7:30 a.m. today. Further announcements will be made as appropriate.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.