REG-Grand Vision Media: Statement re Media Network

Grand Vision Media HoldingsAnnouncement

19/12/2018 13:55

London, 19 December 2018

Grand Vision Media Holdings plc

(“GVMH” or the “Company”)

Clarification on Media Network

GVMH has issued the following clarification.

On 6 December 2018 SMI Holdings Limited (“SMI”), a cinema operator and
deployment partner of GVMH, made an announcement on the Hong Kong Stock
Exchange.

SMI announced that it was short of sufficient working capital to support its
business operations.  As a result, around 140 of the 320 cinemas operated by
SMI have temporarily suspended operations, of which around 11 may be closed in
the near future.  SMI is pursuing its refinancing arrangements.

GVMH currently has 44 panels installed in SMI cinemas.  We confirm that none
of the panels are in any of the temporarily suspended sites or at those sites
marked for closure.   We further confirm that we continue to receive new
advertising orders including for those panels located at the SMI cinemas.

GVMH is currently reviewing the situation with respect to SMI and will provide
an update on any actions that we may implement as a result.   The problems
at SMI are not expected to have any material impact on GVMH’s business
model.   We confirm that we are not owed any monies by SMI.   As stated
above, SMI is a deployment partner, not a customer of GVMH.   GVMH continues
to manage its current portfolio of cinema locations to maximise audience
reach, and is continuing the rollout of panels to other cinema locations.

The full SMI announcement can be viewed here

http://www.smi198.com/attachment/2018120623020100003345138_en.pdf

**ENDS**

For further information, photos and enquiries please contact:

 Grand Vision Media Holdings plc                        Jonathan Lo / Ajay Rajpal info@gvmh.co.uk                                                   Tel: +44 (0) 20 7866 2145  
 Alfred Henry Corporate Finance Ltd, Corporate Advisor  Nick Michaels / Jon Isaacs enquiries@alfredhenry.com                                        Tel: +44 (0) 20 3772 0021  
 Alexander David Securities Ltd, Broker                 David Scott david.scott@ad-securities.com  James Dewhurst james.dewhurst@ad-securities.com  Tel: +44 (0) 20 7448 9820  
 Keene Communications, Public Relations                 Alex Glover alex@keenecomms.com                                                             Tel: +44 (0) 7887 610335   

Company web site: www.gvmh.co.uk

Notes to Editors

Grand Vision Media Group is an integrated out-door digital media company with
a difference. We are deploying innovative display and marketing technologies
at strategic, high-traffic locations.  Our glasses-free 3D technology in
digital out-of-home (OOH) media is enabling advertisers to engage with
affluent consumers in important and growing markets such as China and
elsewhere around the world.



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