Gate Ventures PLC: Gate Chairman and Director steps down

Gate Ventures PLC
Gate Chairman and Director steps down
ISIN Number: GB00BYX2WP92
TICKER: GATE

Press Release

December 14, 2017

Gate Ventures PLC
("Gate Ventures" or "Gate" or the "Company")

Gate Chairman and Director steps down

Gate Ventures PLC today announced that Dr. Johnny Hon has decided to step down as Company Chairman in order to concentrate on his numerous other business activities. Dr. Hon will continue to support the Company as a consultant during a transition period.

Dr. Hon joined Gate Ventures as Executive Chairman on August 18, 2015. In his time as Chairman the Company has raised over €20m. He has also helped identify many of the investments that Gate holds today and took the company on to NASDAQ First North in December 2016. In particular, Dr. Hon has been executive producer on Gate's productions of musicals Sunset Boulevard and 42^nd Street. 

»On behalf of the Board of Directors of Gate Ventures, I thank Johnny for his service to the company. His leadership, business acumen and ability to raise funds has been vital to Gate Ventures. Johnny leaves the company in good health and the Board are excited about the future plans«, said Lord Michael Grade, who has accepted the Board's invitation to be Chairman.

»I asked Johnny to Chair Gate Ventures at a very difficult stage in its early life, when the company left AIM. Under his stewardship, the company made numerous investments, successfully raised funds, was admitted to NASDAQ First North and had its Board strengthened significantly. I am personally most grateful to him«, said Mr. Geoff Morrow, CEO.

»My time at Gate Ventures has been very rewarding, and I am delighted to have been a part of its growth«, ends Dr. Johnny Hon.

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Further Enquiries:

Gate Ventures PLC (The Company): [e-mail] // [phone]

Keswick Global AG (Certified Adviser): [e-mail] // [phone]

Rossen & Company ApS (Financial PR): [e-mail] // [phone]

Notes to Editors:

Gate Ventures was founded in 2015 to make investments and capitalise on investment opportunities in the media and entertainment sectors. The Company focuses primarily on investments and operational opportunities in the UK and China covering theatre, television, media technology and e-commerce. 

The Company's investments include various theatre productions such as the successful Sunset Boulevard and 42nd Street (which is currently showing in London), virtual reality ("VR"), and technology companies Bink and PlayJam amongst many others. Gate Ventures has made a total of ten investments since it was established, and to date, has successfully raised over EUR24 million reflecting the Company's significant growth thus far.

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Source: Gate Ventures Plc via Globenewswire