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Monday 05 December, 2016

Gate Ventures PLC

Increased stake in PlayJam

RNS Number : 8866Q
Gate Ventures PLC
05 December 2016
 

Press Release

5 December 2016

 

 

Gate Ventures Plc

("Gate Ventures" or "Gate" or the "Company")

 

Increased stake in PlayJam

(PlayJam or the "Investee")

 

Gate Ventures Plc, an investment company focused on the media, entertainment, e-commerce, fashion retail, consultancy & operational projects, today announces that it signed an agreement with PlayJam to increase its investment stake to 25.19%. 

 

PlayJam is a UK based technology company and pioneer in interactive TV. The Company has developed and deployed a white-label digital distribution platform for VOD (video on demand), home automation and interactive content for Android-powered TVs and set top boxes.

 

PlayJam provides its retail, hardware and operator partners significant feature differentiation targeting the next generation of consumer with a range of TV-ready content including leading video brands, games and interactive educational apps.  The investment agreement between the Company and the Investee has been signed.

 

Dr Johnny Hon, Chairman of Gate Ventures Plc, said: "As Gate Ventures continues to grow its investment portfolio in the entertainment and technology sector, the Company actively participates in projects and investee companies to maximise shareholders returns.  We are thrilled to take PlayJam to the next stage of its development."

 

Anthony Johnson, Chief Executive of PlayJam, said: "We are delighted with the further involvement from Gate Ventures to continue our growth in becoming one of the leading entertainment and high-tech media organisations in a space that is currently undergoing rapid change."

 

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For further information:

Gate Ventures Plc

 

Dr Johnny Hon, Chairman

Geoff Morrow, CEO

Tel: +44 (0) 20 7016 9963

www.gateplc.com

 

Media enquiries:

Abchurch

 

Julian Bosdet / Dr. Jenny Lee / Rebecca Clube

Tel: +44 (0) 20 7398 7714

[email protected]

www.abchurch-group.com

 

 

 

Notes to Editors

 

Gate Ventures Plc was founded in 2015 to make investments and capitalise on investment opportunities in the media and entertainment sectors.  The Company focuses primarily on investments and operational opportunities in the UK and China covering theatre, television, media technology and e-commerce. 

 

The Company's investments include various theatre productions such as the successful Sunset Boulevard and the upcoming highly anticipated 42nd Street, virtual reality ("VR"), and technology companies Bink and PlayJam amongst many others.  Gate Ventures has made a total of nine investments since it was established, and to date, has successfully raised over £14 million reflecting the Company's significant growth thus far. 

 

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