EVR Holdings buoyant after inking licensing agreement with Facebook

EVR Holdings' shares jumped on Thursday after it signed a content licensing agreement with Facebook Technologies for its virtual reality music platform.

The agreement will see content from the AIM traded company's MelodyVR's platform utilised by Facebook and Oculus for advertising purposes and licenses its exploitation across YouTube, Facebook, Instagram, as well as via the Oculus Website, for a period of 9 months.

MelodyVR will receive a license fee which it will share with the rights holders whom represent the artists featured within the content, while Facebook will also provide it with marketing commitments including featured placements on the Oculus platform, inclusion in PR communications and activities in relation to the advertisements.

EVR Holdings' shares were up 13.40% at 7.54p at 1555 BST.