Tag: MENA

REGULATED INFORMATION
May 10, 2024, 7:00am CET / 1:00am ET

NYXOAH SA
(Euronext Brussels: NYXH)
Rue Edouard Belin 12, 1435 Mont-Saint-Guibert, Belgium
(hereinafter the “Company”)

Invitation to attend the annual and the extraordinary shareholders’ meetings of the Company
to be held on June 12, 2024

The board of directors of the Company is pleased to invite its securities holders to attend the annual shareholders’ meeting of the Company, to be held on Wednesday, June 12, 2024 at 2:00 p.m. CET at the Company’s seat, or at such other place as will be indicated prior to such time. The annual shareholders’ meeting will be followed immediately by an extraordinary shareholders’ meeting.

The Company will also set up a video conference to allow holders of securities of the Company who have duly registered for the annual and the extraordinary shareholders’ meetings to follow the meetings remotely and ask questions, as the case may be in writing, during the meetings. The modalities to attend the meetings via video conference will be communicated to the relevant securities holders in due time. The videoconference will not qualify as an electronic communication tool to attend and vote at the shareholders’ meetings as referred to in Article 7:137 of the Belgian Code of Companies and Associations, but will be an extra facility for securities holders to follow the shareholders’ meetings. Holders of securities wishing to attend the meetings via video conference and also validly vote on the items on the agendas, are invited to exercise their voting rights prior to the shareholders’ meetings by following the rules set out in this convening notice, either by voting remotely by mail, or by giving a proxy to a representative of the Company.

In order to facilitate the keeping of the attendance list on the day of the annual and the extraordinary shareholders’ meetings, the holders of securities issued by the Company and their representatives are invited to register as from 1:30 p.m. CET.

AGENDA OF THE ANNUAL SHAREHOLDERS’ MEETING

1. Acknowledgement and discussion of:

1. the statutory annual accounts for the financial year ended on December 31, 2023;
2. the consolidated financial statements for the financial year ended on December 31, 2023;
3. the annual report of the board of directors on the statutory annual accounts for the financial year ended on December 31, 2023;
4. the annual report of the board of directors on the consolidated financial statements for the financial year ended on December 31, 2023;
5. the statutory auditor’s report on the statutory annual accounts for the financial year ended on December 31, 2023; and
6. the statutory auditor’s report on the consolidated financial statements for the financial year ended on December 31, 2023.

1.      Approval of the statutory annual accounts for the financial year ended on December 31, 2023 and the proposed allocation of the result

Proposed decision: The shareholders’ meeting decides to approve the annual accounts for the financial year ended on December 31, 2023 and the allocation of the result as proposed by the board of directors.

2.      Discharge of directors

Proposed decision: The shareholders’ meeting decides to grant discharge to each of the directors who was in office during the financial year ended on December 31, 2023 for the performance of their mandate during that financial year.

3.      Discharge of the statutory auditor

Proposed decision: The shareholders’ meeting decides to grant discharge to the statutory auditor who was in office during the financial year ended on December 31, 2023 for the performance of his mandate during that financial year.

4.      Acknowledgement and approval of the remuneration report

Proposed decision: The shareholders’ meeting decides to approve the remuneration report.

1. Acknowledgement and approval of the amended remuneration policy to allow for a share-based remuneration for the non-executive directors

Upon the recommendation of the remuneration committee, the board of directors proposes to amend the remuneration policy of the Company to allow for the granting of so-called “restricted share units” or “RSUs” to non-executive directors. This RSU remuneration component replaces the existing share-based remuneration in the form of a grant of warrants to non-executive directors as approved by the annual shareholders’ meeting of June 8, 2022. The proposed features of the RSUs are summarized in the proposed amended remuneration policy.

Proposed decision: The shareholders’ meeting decides to approve (a) the amended remuneration policy, (b) the granting to non-executive directors of “restricted share units” or “RSUs” as further described in the amended remuneration policy, whereby the RSUs shall be awarded for the first time as of the date of this shareholders’ meeting, and (c) the cancellation as of the date of this shareholders’ meeting of the current warrant component of the non-executive directors’ remuneration as approved by the annual shareholders’ meeting of June 8, 2022.

1. Appointment of Robelga SRL (permanently represented by Robert Taub) as director

Proposed decision: The shareholders’ meeting decides to appoint Robelga SRL, permanently represented by Robert Taub, as director of the Company until the annual shareholders’ meeting to be held in 2025. The mandate of Robelga SRL will be remunerated as provided for the non-executive members of the board of directors in the Company’s remuneration policy as adopted by the shareholders’ meeting and, as concerns the cash remuneration, as decided by the annual shareholders’ meeting of June 8, 2022.

1.      Reappointment of Jürgen Hambrecht as independent director

Proposed decision: The shareholders’ meeting decides to reappoint Jürgen Hambrecht as an independent director of the Company within the meaning of Article 7:87 of the CCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, until the annual shareholders’ meeting to be held in 2025. The mandate of Jürgen Hambrecht will be remunerated as provided for the non-executive members of the board of directors in the Company’s remuneration policy as adopted by the shareholders’ meeting and, as concerns the cash remuneration, as decided by the annual shareholders’ meeting of June 8, 2022.

2.      Reappointment of Kevin Rakin as independent director

Proposed decision: The shareholders’ meeting decides to reappoint Kevin Rakin as an independent director of the Company within the meaning of Article 7:87 of the CCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, until the annual shareholders’ meeting to be held in 2025. The mandate of Kevin Rakin will be remunerated as provided for the non-executive members of the board of directors in the Company’s remuneration policy as adopted by the shareholders’ meeting and, as concerns the cash remuneration, as decided by the annual shareholders’ meeting of June 8, 2022.

3.      Reappointment of Rita Johnson-Mills as independent director

Proposed decision: The shareholders’ meeting decides to reappoint Rita Johnson-Mills as an independent director of the Company within the meaning of Article 7:87 of the CCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, until the annual shareholders’ meeting to be held in 2025. The mandate of Rita Johnson-Mills will be remunerated as provided for the non-executive members of the board of directors in the Company’s remuneration policy as adopted by the shareholders’ meeting and, as concerns the cash remuneration, as decided by the annual shareholders’ meeting of June 8, 2022.

4.      Reappointment of Virginia Kirby as independent director

Proposed decision: The shareholders’ meeting decides to reappoint Virginia Kirby as an independent director of the Company within the meaning of Article 7:87 of the CCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, until the annual shareholders’ meeting to be held in 2025. The mandate of Virginia Kirby will be remunerated as provided for the non-executive members of the board of directors in the Company’s remuneration policy as adopted by the shareholders’ meeting and, as concerns the cash remuneration, as decided by the annual shareholders’ meeting of June 8, 2022.

5.      Reappointment of Wildman Ventures LLC (permanently represented by Daniel Wildman) as independent director

Proposed decision: The shareholders’ meeting decides to reappoint Wildman Ventures LLC, permanently represented by Daniel Wildman, as an independent director of the Company within the meaning of Article 7:87 of the CCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, until the annual shareholders’ meeting to be held in 2025. The mandate of Wildman Ventures LLC will be remunerated as provided for the non-executive members of the board of directors in the Company’s remuneration policy as adopted by the shareholders’ meeting and, as concerns the cash remuneration, as decided by the annual shareholders’ meeting of June 8, 2022.

6.      Reappointment of Pierre Gianello as director

Proposed decision: The shareholders’ meeting decides to reappoint Pierre Gianello as director of the Company until the annual shareholders’ meeting to be held in 2025. The mandate of Pierre Gianello will be remunerated as provided for the non-executive members of the board of directors in the Company’s remuneration policy as adopted by the shareholders’ meeting and, as concerns the cash remuneration, as decided by the annual shareholders’ meeting of June 8, 2022.

7.      Reappointment of Olivier Taelman as director

Proposed decision: The shareholders’ meeting decides to reappoint Olivier Taelman as director of the Company until the annual shareholders’ meeting to be held in 2025. The mandate of Olivier Taelman will not be remunerated.

AGENDA OF THE EXTRAORDINARY SHAREHOLDERS’ MEETING

1. Acknowledgment and discussion of the special report by the board of directors drawn up in accordance with article 7:199 of the Belgian Code of Companies and Associations relating to the proposal to renew the authorized capital

8.      Renewal of the authorization to the board of directors to increase the share capital within the framework of the authorized capital

Proposed decision: The shareholders’ meeting resolves to renew the authorization to the board of directors to increase the share capital in one or several times, during a period of five (5) years as from the publication in the Annexes to the Belgian Official Gazette of this authorization, with an aggregate amount equal to EUR 3,436,000, and this in accordance with the terms and conditions set forth in the special report of the board of directors prepared in accordance with Article 7:199 of the Belgian Code of Companies and Associations, as referred to in agenda item 1 of this extraordinary shareholders’ meeting.

Consequently, the shareholders’ meeting resolves to delete the first and second paragraph of Article 7 (“Authorized capital”) of the articles of association of the Company entirely and to replace such first and second paragraph of Article 7 respectively with the following text (whereby (i) the date referred to between brackets in the second paragraph shall be the date of the shareholders’ meeting approving the renewed authorized capital, and (ii) the other provisions of Article 7 remain in place and are re-approved):

A)   text of the first paragraph: “The board of directors is authorized to increase the capital of the company on one or several occasions in accordance with the Code of Companies and Associations by a maximum aggregate amount of EUR 3,436,000.”

B)   text of the second paragraph: “This authorization is valid for a period of five years as from the date of publication in the Annexes to the Belgian State Gazette of an extract of the minutes of the extraordinary shareholders’ meeting of the company of [date of the shareholders’ meeting approving the renewed authorized capital].”

5.      Power of attorney to the notary

Proposed decision: The shareholders’ meeting decides to grant the acting notary, and any other notary of “Berquin Notarissen”, all powers to draw up and sign a restated version of the articles of association of the Company and to file them in the appropriate data base in accordance with applicable law.

ADMISSION FORMALITIES AND PARTICIPATION IN THE SHAREHOLDERS’ MEETINGS

In order to attend the shareholders’ meetings on June 12, 2024, the holders of shares and subscription rights are requested to comply with articles 26 and 27 of the Company’s articles of association and the following formalities.

If the attendance quorum required pursuant to Article 7:153 of the Belgian Code of Companies and Associations is not met at the extraordinary shareholders’ meeting of June 12, 2024, a second extraordinary shareholders’ meeting will be convened on Monday, July 1, 2024 at 2:00 p.m. CET, to deliberate and resolve on the agenda items of the extraordinary shareholders’ meeting regardless of the share capital present or represented by the shareholders.

The holders of subscription rights issued by the Company can, in accordance with Article 7:135 of the Belgian Code of Companies and Associations only attend the shareholders’ meetings with a consultative vote.

In order to be able to participate in the annual and the extraordinary shareholders’ meetings, a holder of securities issued by the Company must satisfy two conditions: (a) be registered as holder of such securities on the registration date and (b) notify the Company, as described below.

Registration date

The registration date is May 29, 2024 at midnight (Belgian time). Only persons registered as securities holders on that date and time will be entitled to attend and (if they are shareholders) vote at the meetings. The number of securities held by the securities holder on the day of the meetings will not be taken into account.

• Holders of registered shares or subscription rights must be registered in the Company’s share register or subscription rights register, as the case may be, by midnight (Belgian time) on May 29, 2024.
• Holders of dematerialized shares must deliver, or have delivered, to the Company, at the latest on June 6, 2024 at midnight (Belgian time), a certificate issued by the authorized account holder or by the settlement institution certifying the number of dematerialized shares registered in the name of the shareholder in its accounts on the registration date, for which the shareholder has declared his intention to participate in the meetings. This certificate must be sent to the Company by e-mail to [email protected].

Intention to participate in the meetings

The securities holders must inform the board of directors of the Company by e-mail to [email protected] no later than June 6, 2024, of their intention to participate in the meetings, indicate the number of securities for which they intend to vote, and, for holders of dematerialized shares, present proof of their registration as a shareholder on the registration date.

In order to attend the meetings, securities holders and proxy holders must prove their identity and representatives of legal entities must submit documents establishing their identity and their power of representation, at the latest immediately before the start of the meetings.

Voting by proxy or by mail

Shareholders can exercise their voting rights prior to the meetings either (i) by voting by mail or (ii) by giving a proxy to a representative of the Company.

If shareholders vote by proxy, the proxy holder will be a representative of the Company. This proxy holder may only exercise the voting right in accordance with the voting instructions contained in the proxy.

The proxy voting form and the form for voting by mail approved by the Company must be used for this purpose. These forms can be downloaded from the Company’s website (https://investors.nyxoah.com/shareholder-information > Shareholders’ Meetings).

If shareholders vote by proxy or by mail, they must, in addition to the above formalities, send by e-mail to [email protected] a duly completed and signed proxy voting form or form for voting by mail. These documents must reach the Company no later than June 6, 2024.

Note that the proxy voting forms and the forms for voting by mail may be signed by using an electronic signature as provided for in Article 7:143 § 2 of the Belgian Code of Companies and Associations.

Participation in the virtual shareholders’ meetings

Securities holders wishing to participate remotely, virtually and in real time, to the Company’s annual and extraordinary shareholders’ meetings are required to confirm their participation and communicate their e-mail address to the Company by June 6, 2024 at the latest by e-mail to [email protected].

A few days before the shareholders’ meetings, securities holders who have completed this formality will receive by e-mail (at the address they will have communicated to the Company) a link, and as the case may be a user name and a password, enabling them to follow and participate in the shareholders’ meetings via their computer, tablet or smartphone.

Just before the start of the shareholders’ meetings, the securities holders will have to click on the link that will have been previously communicated to them by e-mail, and as the case may be enter their user name and password, in order to join the virtual shareholders’ meetings.

Securities holders attending the virtual shareholders’ meetings will have the opportunity to view the live broadcast of the meetings in real time and to ask questions to the directors, as the case may be in writing, during the meetings regarding the items on the agenda.

New agenda items, proposed decisions and right to ask questions

Shareholders holding at least 3% of the capital who wish to request the inclusion of new items on the agenda or to submit proposals for decision must, in addition to the above formalities, establish on the date of their request proof of ownership of the required participation in the capital and send the text of the agenda items and the proposed decisions by e-mail to [email protected] no later than May 21, 2024. The request must also mention the e-mail address to which the Company will send the confirmation of receipt of the request.

The case being, the revised agenda will be published no later than May 28, 2024.

Shareholders who wish to do so may send any questions they may have to the Company, relating solely to the agendas of the annual and the extraordinary shareholders’ meetings, by e-mail to [email protected], no later than June 6, 2024. The answers to these questions will be provided during the annual and the extraordinary shareholders’ meetings in accordance with applicable law.

Documentation

All documents concerning the annual and the extraordinary shareholders’ meetings that are required by law to be made available, as well as the total number of shares and voting rights outstanding, are available on the Company’s website on: https://investors.nyxoah.com/shareholder-information. The documents are also available at the seat of the Company and can only be consulted by appointment made by e-mail ([email protected]). Shareholders may also obtain a hard copy of these documents free of charge by sending an e-mail to [email protected].

The aforementioned formalities, as well as the instructions on the Company’s website and on the proxy voting forms and forms for voting by mail must be strictly observed.

Various

Quorum: There is no particular quorum requirement for the deliberation and voting of the decisions proposed in the agenda of the annual shareholders’ meeting.

In accordance with Article 7:153 of the Belgian Code of Companies and Associations, at least 50% of the share capital must be present or represented for the deliberation and voting on the decisions proposed in item 2 of the agenda of the extraordinary shareholders’ meeting.

Voting: Each share entitles the holder to one vote.

Majority: In accordance with applicable law, the decisions proposed in the agenda of the annual shareholders’ meeting and the decisions proposed in the agenda of the extraordinary shareholders’ meeting, other than agenda item 2, will be adopted if they are approved by a simple majority of the votes validly cast by the shareholders present or represented at the relevant shareholders’ meeting. In accordance with Article 7:153 of the Belgian Code of Companies and Associations, the decisions proposed in item 2 of the agenda of the extraordinary shareholders’ meeting will be adopted if they are approved by 75% of the votes validly cast by the shareholders present or represented. Blank votes and abstentions are not taken into account.

Personal data: The Company is responsible for the processing of personal data that it receives or collects from holders of securities issued by the Company and agents in connection with the Company’s shareholders’ meetings.

The processing of such data will be carried out for the purpose of organizing and holding the relevant shareholders’ meeting, including convening, registration, attendance and voting, as well as maintaining lists or registers of securities holders and for purposes of analysis of the Company’s securities holders’ base.

The data includes, but is not limited to, the following: identification data, the number and nature of a holder’s securities issued by the Company, proxies and voting instructions. This information may also be transferred to third parties for the purpose of assisting or servicing the Company in connection with the foregoing.

The processing of such data will be carried out, mutatis mutandis, in accordance with the Company’s privacy notice available on the Company’s website: https://www.nyxoah.com/privacy-notice-nyxoah.

The Company draws the attention of holders of securities issued by the Company and agents to the description of the rights they may have as data subjects, such as, inter alia, the right of inspection, the right to rectify and the right to object to processing, which are set out in the section entitled “What rights can you exercise?” of the aforementioned privacy notice.

All this is without prejudice to the applicable rules on registration, use of information and participation in shareholders’ meetings in order to exercise your rights as a data subject. For any other information relating to the processing of personal data by or on behalf of the Company, the Company can be contacted by e-mail at [email protected].

The board of directors

Attachment

• Nyxoah – ASM ESM 2024 convening notice – PR (ENG)

GlobeNewswire Distribution ID 1000949955

LONDON, May 09, 2024 (GLOBE NEWSWIRE) — Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), a leader in quantum-safe encryption, today urges CISOs and security teams to urgently address their post-quantum technology strategies, as quantum computing advances rapidly. The risk of Store Now, Decrypt Later (SNDL) attacks underscores that the quantum threat is not a distant concern but an immediate security challenge demanding attention today.

Arqit’s distinctive approach addresses the cost and complexity associated with quantum-safe migration strategies through its ground breaking Symmetric Key Agreement Platform (SKA Platform). Mitigating the risks posed by SNDL attacks is paramount to safeguarding valuable long-term data. Failure to do so could result in a catastrophic breach of data privacy, threatening the secrecy of sensitive and classified information.

Further details may be found in the IDC Analysts Brief: “Securing Valuable and Durable Data in a Post-Quantum World”, sponsored by Arqit

Securing Valuable and Durable Data in a Post-Quantum World (arqit.uk)

David Williams, Chairman and CEO of Arqit Limited said:

“Our cloud-based solution is designed for today’s modern and evolving network environments. Protecting data transmission across diverse communication links and device types necessitates security that is easily deployable, scalable and integrates seamlessly into existing infrastructures without the need for additional hardware. By using well established cryptographic techniques grounded in quantum-resistant symmetric encryption methods, Arqit offers organisations a distinct pathway to transition seamlessly into the post-quantum era.”

Notes to Editors

Arqit representatives will be attending RSA (6-9 May 2024) and will be available for interview. www.rsaconference.com/usa.

For more information about Arqit visit Arqit’s website

IDC Analysts Brief: “Securing Valuable and Durable Data in a Post-Quantum World”, published May 2024, document number IDC #EUR252099724

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. IDC helps IT professionals, business executives, and the investment community to make fact-based decisions on technology purchases and business strategy. For additional information on IDC, please visit https://www.idc.com.

About Arqit

Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit) supplies a unique encryption software service which makes the communications links of any networked device, cloud machine or data at rest secure against both current and future forms of attack on encryption – even from a quantum computer. Compatible with NSA CSfC Components and meeting the demands of NSA CSfC Symmetric Key Management Requirements Annexe 1.2. and RFC 8784, Arqit’s Symmetric Key Agreement Platform uses a lightweight software agent that allows end point devices to create encryption keys locally in partnership with any number of other devices. The keys are computationally secure and facilitate Zero Trust Network Access. It can create limitless volumes of keys with any group size and refresh rate and can regulate the secure entrance and exit of a device in a group. The agent is lightweight and will thus run on the smallest of end point devices. The product sits within a growing portfolio of granted patents. It also works in a standards compliant manner which does not oblige customers to make a disruptive rip and replace of their technology. Arqit is winner of two GSMA Global Mobile Awards, The Best Mobile Security Solution and The CTO Choice Award for Outstanding Mobile Technology, at Mobile World Congress 2024, recognised for groundbreaking innovation at the 2023 Institution of Engineering and Technology Awards and winner of the National Cyber Awards’ Innovation in Cyber Award and the Cyber Security Awards’ Cyber Security Software Company of the Year Award. Arqit is ISO 27001 Standard certified. www.arqit.uk

Media relations enquiries:
Arqit: [email protected]

Investor relations enquiries:
Arqit: [email protected]
Gateway: [email protected]

Caution About Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on Arqit’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Arqit’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Arqit to predict these events or how they may affect it. Except as required by law, Arqit does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Arqit’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against the Arqit, (ii) the ability to maintain the listing of Arqit’s securities on a national securities exchange, (iii) changes in the competitive and regulated industries in which Arqit operates, variations in operating performance across competitors and changes in laws and regulations affecting Arqit’s business, (iv) the ability to implement business plans, forecasts, and other expectations, and identify and realise additional opportunities, (v) the potential inability of Arqit to successfully deliver its operational technology, (vi) the risk of interruption or failure of Arqit’s information technology and communications system, (vii) the enforceability of Arqit’s intellectual property, and (viii) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Arqit’s annual report on Form 20-F (the “Form 20-F”), filed with the U.S. Securities and Exchange Commission (the “SEC”) on 21 November 2023 and in subsequent filings with the SEC. While the list of factors discussed above and in the Form 20-F and other SEC filings are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realisation of forward-looking statements.

GlobeNewswire Distribution ID 9113888

The collaboration will result in 25 locations in the Middle East by 2028

DUBAI, United Arab Emirates, May 09, 2024 (GLOBE NEWSWIRE) — In a groundbreaking move, Apparel Group, a dominant force in the global fashion and lifestyle retail landscape, partners with Sandbox VR, the world’s premier destination for premium location-based virtual reality experiences, in a significant franchise partnership. With over 85 brands and more than 2,200 stores across 14 countries, Apparel Group’s extensive reach solidifies the collaboration’s foundation. This collaboration will begin with 25 locations in the Middle East. The partnership comes on the heels of Sandbox VR’s being named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2024. Earning the number two spot in the Augmented and Virtual Reality category, Sandbox VR is recognized for creating a fully-immersive virtual reality experience for a global audience.

“We are excited to embark on this partnership with Sandbox VR, a company that stands at the forefront of virtual reality innovation,” said Neeraj Teckchandani, CEO of Apparel Group. “This collaboration is not just about expanding our portfolio—it’s about creating groundbreaking experiences that merge technology and entertainment, offering our customers in the Middle East and beyond something truly exceptional. Together, we are setting new benchmarks in the retail and entertainment industries.”

“We’ve received an overwhelmingly positive response at our locations across the US, Europe, and Asia,” said Steve Zhao, founder and CEO of Sandbox VR. “The universal appeal of our experiences is unmatched. We’re excited to partner with Apparel Group as we expand our global footprint and bring our fully-immersive virtual reality adventures to even more audiences worldwide.”

Sandbox VR is now operating in over 46 global locations and expanding rapidly. With 18 locations launched in the last 19 months, each 4,000+ sq ft with multiple holodecks in which guests experience the virtual worlds, Sandbox VR is the fastest-growing location-based VR startup in the world. To accelerate that growth, the company recently announced it is opening its US footprint for franchising in addition to international locations. In an ongoing commitment to inclusivity, Sandbox VR is expanding its multi-language support to encompass a total of seven languages and counting, enabling an even wider audience to partake in its immersive offerings.

“Our expansion into the Middle East is a strategic step towards our global commitment to bring people closer together through world-class immersive experiences,” said Lee Hebditch, Director of Global Franchise Operations at Sandbox VR. “The Apparel Group’s profound regional proficiency and unparalleled achievements make them the perfect global ally for our brand. With this partnership, we’re continuing on our mission to make location-based entertainment more accessible.”

Additionally, in September 2023, Sandbox VR collaborated with Netflix to exclusively launch the Squid Game Virtuals, an experience inspired by their #1 hit series. The success of Squid Game Virtuals broke records as it was the fastest experience to hit $1M in sales. In its first two months, the game generated $4.56M in ticket sales at physical venues and has continued its march toward breaking new records. Most recently, Sandbox VR worked with Netflix to announce a limited-time takeover of its London location to celebrate the release of Rebel Moon — Part Two: The Scargiver where visitors previewed the world of Rebel Moon in a full-body VR experience.

For more information and to make reservations, please visit sandboxvr.com and connect with Sandbox VR on Facebook, Instagram, and TikTok.

ABOUT APPAREL GROUP LLC
Apparel Group is a global fashion and lifestyle retail conglomerate residing at the crossroads of the modern economy – Dubai, United Arab Emirates. Today, Apparel Group caters to thousands of eager shoppers through its 2200+ retail stores and 85+ brands on all platforms while employing over 22,000+ multicultural staff.

Apparel Group has carved its strong presence in the GCC and expanded thriving gateways to market in India, South Africa, Singapore, Indonesia, Thailand, Malaysia, and Egypt. Additionally, clear strategies are in place to enter emerging markets such as Hungary and Philippines.

Apparel Group has created an omni-channel experience, operating brands originating from the USA, Canada, Europe, Australia, and Asia. The brands include leading names in fashion, footwear, and lifestyles such as Tommy Hilfiger, Charles & Keith, Skechers, Aldo, Nine West, Aeropostale, Jamie’s Italian, Tim Hortons, Cold Stone Creamery, Inglot, and Rituals.

Apparel Group owes its amazing growth to the vision and guidance of its dynamic Founder and Chairwoman, Mrs. Sima Ganwani Ved, who has taken the company from strength to strength since its inception in the last two decades.

https://apparelglobal.com/en/

ABOUT SANDBOX VR
Sandbox VR is the world’s premier destination for premium location-based virtual reality games. The company has created the world’s most immersive full-body VR platform and boasts games you can’t play anywhere else. Sandbox VR is now operating in over 46 locations across seven countries and expanding rapidly. Sandbox VR is headquartered in San Francisco, California with offices in Hong Kong and Vancouver. Sandbox VR’s latest round has raised over $37 million from investors including Andreessen Horowitz, Alibaba Entrepreneurs Fund, Gobi Partners, and Craft. Individual investors include Justin Timberlake, Katy Perry, Kevin Durant and Will Smith.

Media Contacts:
[email protected]
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ec651223-8fa3-4aef-8518-a2993aeabeea

GlobeNewswire Distribution ID 9113692