22 December
2021
Grand Vision Media Holdings Plc
("GVMH" or the "Company")
Further update on Audit and Interim
Results and Trading Update
Following the announcements on 1 July
2021 & 29 October 2021,
the Company continues to work towards the finalisation of its
annual report and accounts for the year ended 31 December 2020 and the interim results for the
6 months to 30 June 2021.
Unaudited revenue for 12 months ending 31
December 2020 was HKD 5,827K
(audited 2019 : HKD 12,034K) and
unaudited revenue for 6 months ending 30
June 2021 was HKD 1,742K
(unaudited 2020 : HKD 6,045K).
The Directors of the Company are currently exploring funding
options which are necessary to bolster the financial position of
the Company which has been adversely impacted by the
pandemic. Once this funding is in place the Company will
finalise its accounts on a going concern basis and expect an
unqualified audit report to be obtained.
The outdoor media advertising market continues to be very weak
and the new Omicron strain of COVID-19 is expected to lengthen the
recovery profile of the sector. We continue to explore other
opportunities and opportunities including, but not limited to, the
marketing of PPE products although as previously announced the
global logistics crisis is delaying any positive impact on our
cashflow.
The Company continues to be supported by the major shareholders,
whilst it navigates through the uncertainties and disruption caused
by COVID-19.
### END ###
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 |