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28.02.2011
Tangibal Group Plc acquires intellectual property of Ridercam
Tangibal Group Plc acquires intellectual property of Ridercam

The board of directors of Tangibal Group plc announces that it has restructured its investment in the intellectual property rights of the Ridercam on-ride video capture technology. This follows the failure of World Top Technologies to honour funding pledges for the system’s roll-out in California, but has enabled the Company to acquire a controlling interest in Ridercam via 74.9% ownership of a new venture, Ridercam Systems Limited, which has acquired all the intellectual property and know how of Ridercam from its founders.

Tangibal has worked with the creators of Ridercam and had direct experience of the Ridercam technology over many years and has concluded that it is now best placed to develop this business as a subsidiary of the Group.

Ridercam’s innovative technology solution will be used to film guests as they ride theme park roller coasters in major theme parks across the world. As a souvenir proposition which will generate revenues from the sale of DVDs and digital downloads, the directors feel that Tangibal is well positioned to exploit this space as theme parks and their guests seek to move from a photographic to a video based product.

Discussions for the installation of three systems are at an advanced stage and the directors expect to announce the first installation in the coming weeks.

Jens Scheberg, the inventor of the Ridercam solution will join the management team of Ridercam Systems Limited with a shareholding of 25.1%. His role will be to manage the technology deployment and develop the technology further. Peter Evans, a director of Tangibal Group has been appointed Executive Chairman.

Tangibal has made a significant investment in Ridercam to fund working capital and is looking at a number of potential Park installs in the US, Europe and Asia.

Peter Evans commented “this is an important development for Tangibal. We have been working with the Ridercam technology since 2009 and see a great future for the Ridercam solution”.

End

About Tangibal:

Formed in 2008, Tangibal Group Plc has established itself as a vision leader in interactive media and experiential advertising. Our goal is to deliver solutions that entertain, inform and motivate. See www.tangibal.com for more information

About Ridercam:

Ridercam is a video-capture system that films people on rides and attractions whereby at the end of the ride people can purchase a DVD or a download of their experience – like a still photo but video. Take a look at www.ridercam.de

Disclaimer:

The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.



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