Gate Ventures PLC
Update Announcement regarding financial position
ISIN Number: GB00BYX2WP92
TICKER: GATE
Gate Ventures PLC
Press Release
September 25, 2019
Gate Ventures PLC
("Gate Ventures" or "Gate" or the "Company")
Update on Financial Position
Gate Ventures PLC, a global media and entertainment operating company, provides an update on its financial position.
Further to the announcement of August 23, 2019, the Company is pleased to announce that the High Court in London has dismissed the application brought against it by its loan holder to put the Company into administration.
The result of the ruling in favour of the Company lifts any restrictions placed upon it and the Board is free to continue to explore options regarding its financial position including, potential investment in the Company by new investors, and the strategic realisation of parts of its investment portfolio which as of December 31 stood at GBP5.5 million net of all liabilities.
The Company has a potential agreement of investment of new funds into the Company and as matters develop, the Board will keep the market informed appropriately.
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Further Enquiries:
Gate Ventures PLC (The Company): assistance@gateplc.com // +44 (0) 20 3150 2477
Keswick Global AG (Certified Adviser): info@keswickglobal.com // +43 1 740 408045
Rossen & Company ApS (Financial PR): nic@rossen.com // +45 2072 9972
About Gate Ventures PLC:
Gate Ventures PLC, a global media and entertainment operating company, was founded in 2015 to exercise active ownership of various production platforms within film, lifestyle and theatre. Governed by senior investment profiles and prominent personas within the British entertainment sector, the board has raised over €28 million worldwide to date.
Since 2017, Gate Ventures PLC has been listed with NASDAQ First North in Copenhagen. Positions include Rise Art Ltd. (15%) Fagara in Mara, 2018 (10%), Theory of Ambitions, 2018 (2.5%), Bink (4%), Ensygnia (7%), Infinity Creative Media (16%) and Gate Reality (100%).
As of 2019, the executive board of Gate Ventures PLC is comprised of Lord Michael Ian Grade, Baron of Yarmouth (Chairman, CBE), Sarah, Duchess of York (Executive Director), Mr. Geoffrey Stanton Morrow (CEO), Mr. Michael Sidney Linnit (CSO) and Mr. Richard James Carter (CFO, ACMA, CGMA).
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