Gate Ventures PLC: Announcement of investment in two Hong Kong/Chinese film productions
17 February 2018 - 3:03AM
Gate Ventures PLC
Announcement of investment in two Hong
Kong/Chinese film productions
ISIN Number: GB00BYX2WP92
TICKER: GATE
Gate Ventures PLC
Press Release
February 16, 2018
Gate Ventures
PLC
("Gate Ventures" or "Gate" or the "Company")
Announcement of investment in two Hong Kong/Chinese film
productions
Gate Ventures has invested in two major Chinese
film productions due to be released in 2018 in line with its
strategy of investing in international media content.
The two investments have been purchased by Gate
from Global Group Films Ltd, a company owned by Gate ex-Chairman,
Dr Johnny Hon; one of HK$8,941,177 (appx. USD1.14million) in
Fagara in Mara for a 10% stake, and one of
HK$11,764,706 (appx. USD1.5million) in Theory of
Ambitions for a 2.5% stake.
FAGARA IN MARA (Working title) is a light comedy adapted from a
popular novel by Hong Kong native, Amy Cheung - a well-known
author with over forty critically acclaimed books. Fagara in Mara brings together an exceptional cast,
spanning three Chinese regions: Hong Kong's Sammi Cheng, Mainland
China's Jiang Mengjie and Taiwan's Megan Lai. The film is
directed by Heiward Mak, a Hong Kong female film director, writer
and producer whose work has been featured at various international
film festivals. Sammi Cheung has appeared in over 30 films which
have earned her nominations and awards. She has 9.59 million
followers on Weibo and over 700,000 Facebook followers. Bringing
fans from Mainland China and Taiwan are the two supporting actors,
Jiang Mengjie, and actor and singer, Megan Lai, both with large fan
base and followers on Weibo.
THEORY OF AMBITIONS (Working title) is a big-budget blockbuster scheduled
for global release at the end of 2018. Directed by award-winning
director Philip Yung, widely considered to be the new star of Hong
Kong's film industry, especially following the success of his film
Port of Call. Theory of
Ambitions stars two of Asia's biggest movie stars, Tony Leung
and Aaron Kwok, as co-leads. Tony Leung was named
by CNN as one of "Asia's 25 Greatest Actors of All Time".
Tony Leung's following on Weibo is 2.05 million. Aaron Kwok is
considered one of the »Four Heavenly Kings« of Hong Kong. He
received the »Ten Most Outstanding Young Persons Award« in
2003, Aaron Kwok has 13.03 million followers on Weibo.
»China now boasts 49,000 cinema screens with box
office revenue of RMB 55 billion (appx. USD 8.73 billion). We are
delighted to participate in these two exciting films, an important
step forward in our investment strategy", said Gate Chairman Lord
Michael Grade.
-END-
Further Enquiries:
Gate Ventures PLC (The Company):
assistance@gateplc.com // +44 (0) 20 3150 2477
Keswick Global AG (Certified Adviser):
info@keswickglobal.com // +43 1 740 408045
Rossen & Company ApS (Financial PR):
nic@rossen.com // +45 2072 9972
Notes to Editors:
Gate Ventures 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 42nd Street
(which is currently playing in London), virtual reality ("VR"), and
technology companies Bink and PlayJam amongst many others. Gate
Ventures has made a total of ten investments since it was
established, and to date, has successfully raised over EUR25
million reflecting the Company's significant growth thus far.
-END-
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Gate Ventures Plc via Globenewswire
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