REG-Grand Vision Media: Directorate Change and PDMR Shareholding

Grand Vision Media HoldingsAnnouncement

20/01/2020 12:10

London, 20 January 2020

Grand Vision Media Holdings plc
( “GVMH” or the “Company”)

Appointment of New Director, Resignation of Director and Notification of
Transaction of Directors, Persons Discharging Managerial Responsibility or
Connected Persons

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     http://gvmh.co.uk/                                      
 Jonathan Lo, Director               Tel: +44 (0) 20 7866 2145 or info@gvmh.co.uk            
 Alfred Henry Corporate Finance Ltd                                                          
 Nick Michaels / Jon Isaacs          Tel: +44 (0) 20 3772 0021 or enquiries@alfredhenry.com  

- ENDS -



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