GATE Gate Ventures

TIDMGATE

RNS Number : 9805Q

Gate Ventures PLC

23 June 2015

 
   23 June 2015 
 

Gate Ventures Plc

("Gate Ventures" or the "Company")

Resignation of Nominated Adviser and Joint Broker

Update on Convertible Loan Note fundraising

The Board of Gate Ventures announces that Beaumont Cornish Limited has resigned as the Company's Nominated Adviser and Joint Broker with effect from 22 June 2015. Pursuant to Rule 1 of the AIM Rules, in the event that a Nominated Adviser is not appointed within a month, the Company's admission to trading will be cancelled. The Company was suspended, at its own request, on 11 June 2015. The Company is currently in early stage discussions with a replacement Nominated Adviser and Joint Broker and further updates will be made in due course.

Update on Convertible Loan Note fundraising

The Company confirms that GBP8.5 million has been successfully raised from a number of investors and is currently being held to order in the client account of the Company's legal advisers. Further details in relation to the specific terms and conditions of the fundraising to raise money via the issue of convertible loan notes will be announced by the Company in due course.

- Ends -

For further information:

 
 Gate Ventures Plc                     Tel: +44 (0) 20 7887 6347 
 Geoff Morrow, Executive Chairman                www.gateplc.com 
 Cornhill Capital Limited              Tel: +44 (0) 20 7710 9612 
  (Broker) 
 Nick Bealer                             www.cornhillcapital.com 
 
 
 

Media enquiries:

 
 Abchurch Communications Limited 
 Henry Harrison-Topham / Canace    Tel: +44 (0) 20 7398 7714 
  Wong 
 GateVentures@abchurch-group.com      www.abchurch-group.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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