Statement re Corporate Consolidation

Grand Vision Media Holdings plc - Statement re Corporate Consolidation

PR Newswire

London, June 9

London, 9 June 2020

Grand Vision Media Holdings plc( “GVMH” or the “Company”)Corporate Consolidation

The directors of GVMH announce the following update.

The group has undertaken some consolidation of the group structure, which has resulted in some intermediate holding companies, Grand Vision Communications Limited and Billion Wise Investments Limited, being removed. These two companies were non-trading holding companies, and therefore this change has no effect on the group’s operations.

As part of this exercise, the two external minority shareholders of Grand Vision Communications Ltd have decided to divest their respective holdings, and have agreed to sell their shareholdings to the group for a nominal consideration of US$1 each, following a decision by them to concentrate on their other respective business interests. This has the result of removing the minority interests in this part of the group only.

The Directors accept responsibility for this announcement.

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