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High Growth Capital Plc (HASH)

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Monday 01 April, 2019

High Growth Capital Plc

Business Update and Retirement of Director

1 April 2019

High Growth Capital plc
(“HGC” or the “Company”)

Business Update and Retirement of Director

Business update

It is the Directors’ opinion that over the coming years a new wave of service propositions will emerge with the potential to fundamentally change the current digital landscape (which is controlled by a small number of well-known technology giants). Enhanced personalisation, individual control of data, connectivity and engagement are likely to result in the emergence of a much more inclusive human economy delivering tangible and progressive benefits to all stakeholders.

There are a number of exciting avenues for the Company to pro-actively pursue within these rapidly unfolding trends. It is clear that to deliver an optimal long-term outcome we will need to act decisively and as such the Company’s business status should be changed from a passive investing entity to an operating model.  To effect this directional change and to simultaneously deal with various other corporate matters, the Company expects to put proposals to shareholders in the coming weeks.  In order to effectively manage operational sequencing, the Company will activate an executive committee prior to the end of 1H ’19.  This will go hand in hand with the anticipated appointment of a number of additional members to the Board. 

Retirement of Director

As part of the rapid business evolution, Christopher Fong will step down with immediate effect from the Board and retire as CEO today. 

Commenting on today's announcement, Jens Zimmermann Chairman of HGC said; "We have a bold vision in that the current digital, proprietary content, human connectivity landscape will change fundamentally in the years to come.  In the months ahead our plan is to ensure that our Company can play a pivotal role in these exciting and tangible opportunities.  We enjoyed our short yet fruitful relationship with Chris and wish him all the best with his future professional endeavors.”

The Directors of the Company accept responsibility for this announcement.

Contact details:

The Company Jens Zimmermann
Rupert Horner
+44 (0)207 583 4055
NEX Exchange Corporate Adviser Peterhouse Capital Limited
Guy Miller and Eran Zucker
+44 (0)207 220 9795

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