29 October 2021
Grand Vision
Media Holdings Plc
("GVMH" or
the "Company")
Update on Audit
and Interim Results and Trading Update
Following the announcement on 1 July
2021 that the listing of the Company’s shares has been
suspended, the Company continues to work towards the finalisation
of its annual report and accounts for the year ended 31 December 2020. The interim results for the 6
months to 30 June 2021 were due to be
released by today, and these results will now be released at the
same time as the annual report and accounts.
When the annual report and accounts, together with the interim
accounts, are filed, the Company will request that the suspension
be lifted and that trading in the Company’s ordinary shares
resume.
Trading Update
The results for the first half of 2021 continue to be adversely
impacted by the pandemic. The outdoor media advertising
market continues to be very weak. We continue with our ongoing cost
cutting measures and have maintained a minimum but adequate
staffing level in China. Our
Hong Kong based digital marketing
team is stable and developing.
We continue to explore other opportunities including the
marketing of PPE products. Although we have had some success,
we have been adversely affected by the global logistics crisis
which has delayed the completion of the deals on hand and hence
collection and recognition of our revenue, which we believe will
catch up in the second half of the year.
We also plan to resume some of our delayed overseas projects in
the second half of the year as we anticipate some relaxation in
travel restrictions across Asia.
The Company continues to be supported by the major shareholders,
whilst it navigates through the uncertainties and disruption caused
by COVID-19.
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For more information:
Grand Vision Media Holdings plc |
http://gvmh.co.uk/ |
Jonathan Lo, Director |
Tel: +44 (0) 20 7866 2145
or info@gvmh.co.uk |
Alfred Henry Corporate Finance Ltd |
|
Nick Michaels / Jon Isaacs |
Tel: +44 (0) 20 3772 0021
or enquiries@alfredhenry.com |