Directorate Change and PDMR Shareholding

About this update from Grand Vision Media Holdings Plc

[{"type":"text","content":"\n \nLondon, 20 January 2020Grand Vision Media Holdings plc( “GVMH” or the “Company”)\n\nAppointment of New Director, Resignation of Director and Notification of Transaction of Directors, Persons Discharging Managerial Responsibility or Connected Persons\n\nThe directors of GVMH are pleased to announce that Frederick Oon Kian Chua has been appointed as a non-executive director of the Company with effect from today.\n\nMr Chua is a non-executive director of CMON Limited (Cayman), which is listed on the Hong Kong Stock Exchange’s Main Board.\n\nMr Chua is also a director of Magic Carpet Pre-IPO Fund (“Magic Carpet”) and Quantum Asset Management Pte Ltd. Magic Carpet holds shares of GVMH.\n\nThe directors of GVMH announce that Edward Kwan-Mang Ng has resigned as a director of the Company with effect from today. The Company wishes to thank Edward for his services to the Company.\n\nPursuant to DTR 3.1.2-A and article 19(1) of the Market Abuse Regulation, the Directors also announce that Cyber Lion Limited, a company controlled by two of GVMH’s directors (namely, Edward Kwan-Mang Ng and Ajay Rajpal), sold 7,328,000 ordinary shares of par value 10p (ISIN: GB00BDHBGL97) in GVMH (the “Shares”) for a price of 5.5p per share. Following this sale, Cyber Lion Limited has no further interest in the shares of GVMH.\n\nThe Shares have been acquired by Win Network International Limited (“Win”), a company controlled by Stephen Lo, on 20 January 2020 in Hong Kong. Mr Lo is the father of one of GVMH’s directors (namely, Jonathan Lo). Following this acquisition, Win will own 7,328,000 shares in GVMH, representing 7.6% of the issued share capital of the Company. Win also owns £454K of convertible loan notes that were issued by the Company on 19 July 2019. The conversion of Win’s convertible loan notes into shares in the Company would result in Win’s acquisition of 3,027,245 shares in the Company and the exercise of Win’s warrants would result in Win’s acquisition of an additional 756,811 shares in the Company. Win would own 11,112,056 shares in the Company if all of the loan notes are converted and all of the warrants are exercised, representing 10.9% of the Company on a fully diluted basis. Stephen Lo also owns 12,439,779 shares in the Company. Therefore, Stephen Lo currently has a beneficial interest in 19,767,77...

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