DJ High Growth Capital PLC CEO appointment
RNS Number : 0161H
High Growth Capital PLC
12 November 2018
For Immediate Release 12 November 2018
High Growth Capital plc
("HGC" or the "Company")
HGC (NEX: HASH) is pleased to announce that Christopher Fong will be appointed as Chief Executive Officer of the Company, conditional on completion of satisfactory due diligence. A further announcement will be made upon completion of this process.
Chris (53) has 30 years of experience working across both public and private sectors. He began his career in Australia working on regional media and activation campaigns for Philip Morris. In 1992 he joined the Yellow River Network, Asia's largest production services facility. YRN controlled a network of music & film production, visual effects and animation companies including Singapore's first broadcast uplink satellite facility. Chris later established Renaissance Films and Evolution, a boutique film production and VFX company, with operations in Singapore, Malaysia and Indonesia.
In 2004 Chris formed ISA Communications, a geopolitical and strategic advisory firm with a broad range of clients that included multinational corporations, family-controlled conglomerates and government agencies. Later ISA expanded into entertainment and sports management services, advising on a range of client interests particularly on football investments in Europe, South America, Indonesia and Australia and high-impact contact sports. Chris is a Director of Australian professional football club Brisbane Roar FC, a member of the Australian Football Federation, and the Vice Chairman of the Australian Professional Football Clubs Association.
Chris currently owns 31,500,000 ordinary shares in HGC and 31,500,000 Warrants with an exercise price of 1.0 pence per share.
As part of his appointment, the Company has allotted Chris with two tranches of Options:
1. 75,000,000 with an exercise price of 1.25 pence per share. These Options vest over a 3-year period subject to continued employment: Year 1 - 40%, Year 2 - 30% and Year 3 - 30%. The options expire on 9/11/2025
2. 75,000,000 with an exercise price of 2.50 pence per share for a fixed period of 3 years. These Options will vest in full, subject to various performance-related conditions being fulfilled.
Current Directorships and Past Directorships and Partnerships Partnerships over the last 5 years (APFCA) Australian Professional None Football Clubs Association ------------------------------------ Brisbane Roar Football Club ------------------------------------
There is no further information regarding Mr Fong that is required to be disclosed pursuant to Paragraph 21, Appendix 1 of the NEX Exchange Growth Market - Rules for Issuers.
Commenting on today's CEO appointment Jens Zimmermann, Chairman said: "It's with great pleasure to be able to bring Chris on board at the start of what will certainly be an exciting journey. His appreciation and understanding of future MEGA online to offline service propositions, cultural connectivity and Asia proximity will prove invaluable. I look forward to working closely with Chris as we start to bring the core initial building blocks into place."
Chris Fong, incoming proposed CEO, continued: "Jens and I are aligned in standing in front of the next wave of major consumer disruption. Audience centricity will become a key theme and I expect that HGC will be able to, in various creative and progressive ways, participate and contribute to this on a global scale. I am really looking forward to the challenges ahead. In the near term we will focus on a small number of identified and compelling opportunities that could form the basis around our bold thesis and at the same time tie in effectively with our initial investment in Sentiance. We anticipate providing further updates to shareholders with more context and details for 2019 and beyond."
The Directors of the Company accept responsibility for the content of this announcement.
High Growth Capital plc Jens Zimmermann +44 (0)207 466 5000 Peterhouse Capital Limited NEX Exchange Corporate Guy Miller / Eran Adviser Zucker +44 (0)207 220 9795 ------------------------ -------------------- Richard Oldworth / Chris Lane / Catriona Buchanan Flint +44 (0)207 466 5000 ------------------------ --------------------
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(END) Dow Jones Newswires
November 12, 2018 02:00 ET (07:00 GMT)