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Completion of £2.6 million investment in Infinity

Released 10:36 18-Aug-2015

RNS Number : 3450W
Gate Ventures PLC
18 August 2015
 

Press Release

18 August 2015

 

 

Gate Ventures Plc

 

("Gate Ventures" or the "Company")

 

Completion of £2.6 million investment in Infinity Creative Media Limited ("Infinity") 

Appointment of Dr Johnny Hon to the Board of Infinity. 

 

Further to Gate Ventures announcement on 21 July, the Board of Directors ("Board") of Gate Ventures Plc announces that it has completed its investment in Infinity Creative Media Limited ("Infinity") of £2.6 million for 2000 shares, which represents 20% of the Infinity shares currently in issue, together with an option to acquire a further 5% of Infinity's issued shares.  At the same time Dr Johnny Hon, recently appointed Chairman of Gate Ventures plc, has been appointed to the Board of Infinity. 

 

Infinity is a UK based television production studio of which Lord Michael Grade, a former Chairman of the BBC, is Chairman.  Infinity is producing a number of investor funded 13 one hour ("13x1") high quality TV magazine programmes for global distribution, where the commercial IP remains vested entirely with Infinity and its investors.  It has four 13x1 original television formats currently in production, these being The Classic Car Show, The Wine Show, The Art Show, and The Luxury Lifestyle Show.  Each series produces numerous income streams for Infinity such as an executive production fee and sales commissions, with potential for additional on-going revenues, on top of the value created from the format's original IP. 

 

Dr Johnny Hon, Chairman of Gate Ventures PLC, said: 

 

"Gate Ventures' investment in Infinity represents a major milestone for the Company in realising its objective to capitalise on investment opportunities in the media and entertainment sectors.  We look forward to working alongside Infinity, which, under the guidance of the most high profile and experienced management teams in the media industry, has great potential in becoming one of the top television and film producers in the UK.  Gate will work with Infinity to unlock various international markets via the Board's extensive knowledge and connections in the global media marketplace." 

 

Lord Grade, Chairman of Infinity Creative Media, said: 

 

"The Board of Gate Ventures adds very complementary experience and global connectivity to Infinity's already strong media and entertainment knowledge, and we welcome Dr Johnny Hon to Infinity's Board." 

 

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Issued by: 

 

Gate Ventures Plc

Tel: +44 (0) 20 7016 9963

Dr Johnny Hon, Chairman

Geoff Morrow, CEO

www.gateplc.com

 

 

Media enquiries

 

Abchurch Communications Limited


Canace Wong / James Burman

Tel: +44 (0) 20 7398 7714

GateVentures@abchurch-group.com

www.abchurch-group.com

 

 

 

 

Notes to Editors

 

Infinity Creative Media Limited

 

 

Infinity is a UK based television production studio of which Lord Michael Grade, a former Chairman of the BBC, is Chairman.  The founder is Russ Lindsay, a former manager of Ant & Dec, Simon Cowell, Phillip Schofield and Piers Morgan.  The CEO is Ross Westgate, who has over 20 years' experience in the global broadcast business, including assisting in the launch of the European TV operations of Dow Jones and CNBC. 

 

Infinity is producing a number of investor funded 13 one hour ("13x1") high quality TV magazine programmes for global distribution, where the commercial IP remains vested entirely with Infinity and its investors. 

 

Infinity has four 13x1 original television formats currently in production, these being The Classic Car Show, The Wine Show, The Art Show, and The Luxury Lifestyle Show.  Further series, including The Football Show and The Theatre Show, are currently in development.  Each series produces numerous income streams for Infinity such as an executive production fee and sales commissions, with potential for additional on-going revenues, on top of the value created from the format's original IP. 

 

 

Gate Ventures Plc

 

 

The Company was formed to make investments and capitalise on investment opportunities in the media and entertainment sectors. Since the formation of the Company, the Board has requested shareholder approval to expand its business strategy to include the fashion retail sector, the television element of the media and entertainment sectors, e-commerce as well as operational activities.   The Board believes the expansion of the Company's business strategy will add significant shareholder value and as such it has recommended to shareholders that they authorise this resolution at the Company's EGM on 27 August. The Company intends to focus on investment and operational opportunities primarily in the UK and China, however other territories will also be considered as opportunities arise.

 

Infinity marks the first significant investment for Gate Ventures.

 

 

 

 

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Completion of £2.6 million investment in Infinity - RNS