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DJ High Growth Capital Plc Business Update and Retirement of Director

 
TIDMHASH 
 
1 April 2019 
 
                            High Growth Capital plc 
                           ("HGC" or the "Company") 
 
                  Business Update and Retirement of Director 
 
Business update 
 
It is the Directors' opinion that over the coming years a new wave of service 
propositions will emerge with the potential to fundamentally change the current 
digital landscape (which is controlled by a small number of well-known 
technology giants). Enhanced personalisation, individual control of data, 
connectivity and engagement are likely to result in the emergence of a much 
more inclusive human economy delivering tangible and progressive benefits to 
all stakeholders. 
 
There are a number of exciting avenues for the Company to pro-actively pursue 
within these rapidly unfolding trends. It is clear that to deliver an optimal 
long-term outcome we will need to act decisively and as such the Company's 
business status should be changed from a passive investing entity to an 
operating model.  To effect this directional change and to simultaneously deal 
with various other corporate matters, the Company expects to put proposals to 
shareholders in the coming weeks.  In order to effectively manage operational 
sequencing, the Company will activate an executive committee prior to the end 
of 1H '19.  This will go hand in hand with the anticipated appointment of a 
number of additional members to the Board. 
 
Retirement of Director 
 
As part of the rapid business evolution, Christopher Fong will step down with 
immediate effect from the Board and retire as CEO today. 
 
Commenting on today's announcement, Jens Zimmermann Chairman of HGC said; "We 
have a bold vision in that the current digital, proprietary content, human 
connectivity landscape will change fundamentally in the years to come.  In the 
months ahead our plan is to ensure that our Company can play a pivotal role in 
these exciting and tangible opportunities.  We enjoyed our short yet fruitful 
relationship with Chris and wish him all the best with his future professional 
endeavors." 
 
The Directors of the Company accept responsibility for this announcement. 
 
Contact details: 
 
The Company                   Jens Zimmermann              +44 (0)207 583 4055 
                              Rupert Horner 
 
NEX Exchange Corporate        Peterhouse Capital Limited   +44 (0)207 220 9795 
Adviser                       Guy Miller and Eran Zucker 
 
 
 
END 
 

(END) Dow Jones Newswires

April 01, 2019 07:30 ET (11:30 GMT)