Gate Ventures PLC
Update on Court Action and Financing
ISIN Number: GB00BYX2WP92
TICKER: GATE
Gate Ventures PLC
Press Release
November 1, 2019
Gate Ventures PLC
("Gate Ventures" or "Gate" or the "Company")
Update on Court Action and Financing
Further to previous announcements (September 25 and August 23, 2019), Gate Ventures PLC, a global media and entertainment operating company, announces that following the dismissal in the High Court of application brought against it by its loan holder, it is yet to receive its legal costs awarded against the loan holder.
Instead, the Company has received notice that the loan holder has chosen to appeal against the decision of the High Court as well as made a further application to put the Company into administration.
Geoff Morrow, CEO of Gate Ventures, said: “This loan holder is not only delaying making payments of our legal costs but revisiting the legal action which already has been dismissed. Our opinion is that this new legal action is also without merit and is designed to detract from the non-payments. We will of course defend our position robustly again and expect the appeal to be rejected.”
The Company continues to have meaningful dialogue with potential investors and as matters develop, the Board will keep the market informed appropriately.
-END-
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).
-END-