REG-Grand Vision Media: Statement re results and trading update

Grand Vision Media HoldingsAnnouncement

29/10/2021 13:40

29 October 2021

Grand Vision Media Holdings Plc

("GVMH" or the "Company")

Update on Audit and Interim Results and Trading Update

Following the announcement on 1 July 2021 that the listing of the Company’s
shares has been suspended, the Company continues to work towards the
finalisation of its annual report and accounts for the year ended 31 December
2020. The interim results for the 6 months to 30 June 2021 were due to be
released by today, and these results will now be released at the same time as
the annual report and accounts.

When the annual report and accounts, together with the interim accounts, are
filed, the Company will request that the suspension be lifted and that trading
in the Company’s ordinary shares resume.

Trading Update

The results for the first half of 2021 continue to be adversely impacted by
the pandemic.  The outdoor media advertising market continues to be very
weak. We continue with our ongoing cost cutting measures and have maintained a
minimum but adequate staffing level in China. Our Hong Kong based digital
marketing team is stable and developing.

We continue to explore other opportunities including the marketing of PPE
products.  Although we have had some success, we have been adversely affected
by the global logistics crisis which has delayed the completion of the deals
on hand and hence collection and recognition of our revenue, which we believe
will catch up in the second half of the year.

We also plan to resume some of our delayed overseas projects in the second
half of the year as we anticipate some relaxation in travel restrictions
across Asia.

The Company continues to be supported by the major shareholders, whilst it
navigates through the uncertainties and disruption caused by COVID-19.

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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  



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