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Monday 31 October, 2016

Gate Ventures PLC

Update on Successful Fundraise

RNS Number : 7880N
Gate Ventures PLC
31 October 2016
 

Press Release

31 October 2016

 

 

Gate Ventures Plc

 

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

 

Successful £2.25 million fundraise   

 

Gate Ventures Plc, an investment company focused on the media, entertainment, e-commerce, fashion retail, consultancy & operational projects, today announces that it has completed a £2.25 million fundraise at 6 pence per share. 

 

Gate Ventures invests in the entertainment and technology sector, focussing primarily on theatre production and the media.  The Company participates actively in projects and investee companies in order to maximise shareholders returns.  

 

Part of the fundraise will contribute to substantial investments the Company will be making in Theatre, including the major production of "42nd Street", opening in March 2017 at the 2,200-seater Theatre Royal, Drury Lane.  The company has also invested a further £380,000 in AIM-quoted reach4entertainment plc, a collection of branding, design and advertising agencies that operate in the theatrical, film and live entertainment sectors. 

 

Dr Johnny Hon, Chairman of Gate Ventures Plc, said:  "This fundraise will help Gate Ventures in its strategic investments including upcoming shows and plays on both Broadway and in London's West End.  The Company looks forward to the next stage of its growth strategy following this successful fundraising round." 

 

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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 Communications Limited

 

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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