TIDMPCGE

RNS Number : 5463B

PCG Entertainment plc

04 April 2017

4 April 2017

PCG Entertainment Plc

("PCGE" or the "Company")

PCG Entertainment Plc / Index: AIM / Epic: PCGE

Statement on share price movement

Trading update

The directors of PCGE, the AIM quoted Asia-Pacific online media and entertainment company, have noted the recent rise in the Company's share price and concurrent online speculation.

On 1 April 2017, Richard Poulden, Chairman of the Company, presented at the UK Investor Show 2017. During his presentation, Mr Poulden stated the following:

-- The Company will have around GBP800,000 net cash at the bank. This is comprised mostly from the recent placings of GBP750,000 and GBP350,000 as previously announced and the proceeds of the disposal of the shares pursuant to the disposal of the Company's former subsidiary, Centre Point Development Corp ("CPDC"), as announced on 21 February 2017.

-- The Company is in the process of looking to joint venture its Client Provider Authorization by the Kahnawake Gaming Commission in Quebec, Canada. As announced at the time of the Company's acquisition of CPDC, the Client Provider Authorization permits the Company to provide interactive gaming services both from premises in the Mohawk territory of Kahnawake and elsewhere relating to interactive games of chance or mixed chance and skill. A further update on discussions with potential joint venture partners will be announced by the Company when they are available.

-- In answers to questions from shareholders Mr Poulden confirmed the Company's view of two persistent rumours raised online and at the UK Investor Show:

o firstly, that although Mr Poulden was still in contact with Shenzhen Tianrong Sports Culture Management Co. Ltd. ("Tianrong") personally, neither he nor Mr Sun, the Company's COO in Asia, believed that Tianrong had the financing to complete a significant football deal.

o secondly, that there had not been a recent games deal agreed by the Company.

For further information:

 
 PCG Entertainment plc 
 Richard Poulden, Chairman    Tel: +44 20 7812 
                               0645 
 
 Allenby Capital 
 Nick Naylor / Nick Harriss   Tel: +44 20 3328 
  / James Thomas               5656 
 
 Beaufort Securities 
 Saif Janjua                  Tel: +44 20 7382 
                               8300 
 
 Damson Communications 
 Amelia Hubert                Tel: +44 20 7812 
                               0645 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

April 04, 2017 07:22 ET (11:22 GMT)