I.G.H. DIRECTORS RESIGN (Update)
Key resignations follow suspension of trading on company's shares
Beleaguered UK sportsbetting group Interactive Gaming Holdings plc took more damage this week with the disclosure to the London Stock Exchange authorities that directors Mitchell Petchenik (Executive
VP) and Robert Spriddell (Non-Executive Director) have resigned effective immediately.
In a statement dated 20 August, IGH executive chairman and founder Thomas Taule said that effective immediately the company has ceased to take bets on its Heathorns and Premierbet sites pending clarification of the financial uncertainty notified on 17 August 2007 (see previous InfoPowa reports).
"The company is continuing its discussions with General Capital Venture Finance Limited and another potential funder," Taule advised.
"Mitchell Petchenik and Robert Spriddell have both resigned, as Executive Vice President and Non-Executive Director respectively, with immediate effect.
"Arbuthnot Securities Limited has resigned as the company's Nominated Adviser and Broker with immediate effect."
The company's shares will continue to be suspended from trading on AIM pending clarification of its financial position and the appointment of a new Nominated Adviser. If the company fails to appoint a new Nominated Adviser within a month its shares will be cancelled from trading on AIM.
Taule gave an undertaking that the company will make further announcements as and when appropriate.