The 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.

Mr Chua is a non-executive director of CMON Limited (Cayman), which is listed on the Hong Kong Stock Exchange’s Main Board.

Mr 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.

The 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.

Pursuant 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.

The 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 19,767,779 shares in the Company (representing 20.5% of the issued share capital of the Company), and could have a beneficial interest in 23,551,835 shares in the Company on a fully diluted basis assuming all loan notes and warrants are exercised as detailed above (representing 23.1% of the fully diluted issued share capital of the Company).

Jonathan Lo, GVMH’s Chief Executive Officer said: "We are happy to welcome Frederick to the GVMH team. Frederick’s range of experience will add significantly to our Board as we focus on the delivery of our corporate strategy.”

The Company hereby confirms that Mr Chua has no further disclosures to make in accordance with Rule 9.6.13R(1)-(6) of the Listing Rules of the UK Listing Authority.

The Directors accept responsibility for this announcement.

For more information:

Grand Vision Media Holdings plc
Jonathan Lo, Director
Tel: +44 (0) 20 7866 2145

Alfred Henry Corporate Finance Ltd
Nick Michaels / Jon Isaacs
Tel: +44 (0) 20 3772 0021

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