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Gate Ventures PLC (GATE)

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Tuesday 23 June, 2015

Gate Ventures PLC

Resignation of Nomad, Loan Note fundraising update

RNS Number : 9805Q
Gate Ventures PLC
23 June 2015
 

 

23 June 2015

 

Gate Ventures Plc

 

("Gate Ventures" or the "Company")

 

Resignation of Nominated Adviser and Joint Broker

Update on Convertible Loan Note fundraising

 

The Board of Gate Ventures announces that Beaumont Cornish Limited has resigned as the Company's Nominated Adviser and Joint Broker with effect from 22 June 2015.  Pursuant to Rule 1 of the AIM Rules, in the event that a Nominated Adviser is not appointed within a month, the Company's admission to trading will be cancelled.  The Company was suspended, at its own request, on 11 June 2015.  The Company is currently in early stage discussions with a replacement Nominated Adviser and Joint Broker and further updates will be made in due course.

 

Update on Convertible Loan Note fundraising

The Company confirms that £8.5 million has been successfully raised from a number of investors and is currently being held to order in the client account of the Company's legal advisers.  Further details in relation to the specific terms and conditions of the fundraising to raise money via the issue of convertible loan notes will be announced by the Company in due course.

 

- Ends -

 

For further information:

Gate Ventures Plc

Tel: +44 (0) 20 7887 6347

Geoff Morrow, Executive Chairman

www.gateplc.com

 

Cornhill Capital Limited

(Broker)

 

Tel: +44 (0) 20 7710 9612

Nick Bealer

www.cornhillcapital.com

 

 

     

Media enquiries:

Abchurch Communications Limited

 

Henry Harrison-Topham / Canace Wong

Tel: +44 (0) 20 7398 7714

[email protected]

www.abchurch-group.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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