PRESS RELEASE
Board Changes
05 December 2008
Gaming VC Holdings S.A. (AIM: GVC), a leading European online gaming company, is pleased to announce the appointment of Richard Cooper as Finance Director and Karl Diacono as Non Executive Director. Gerard Cassels and Adrian Smith will step down from their respective positions as Finance Director and Non Executive Director, and leave the Company. These changes are effective immediately.
Richard Cooper, a Chartered Accountant, spent the early part of his career in the money and stock markets where he was a finance director at Tullett Prebon and Fidelity. In later years, he has been the Group Financial Director at a number of quoted companies, including the internet financial software supplier, Patsystems Group plc. In early 2005, he became a founder director of Trident Gaming plc, a special purpose vehicle set up to acquire and run internet gaming assets. Trident acquired Gamebookers, significantly increased its profitability and then sold it to PartyGaming plc for three times its acquisition price. Trident also owned a betting exchange "BetBug" and a stake in an online payment processor. He is also the compiler and author of a soon to be released compendium on the finances of over 70 online gaming companies.
Karl Diacono has experience in the corporate, hospitality and online gaming sector, both in Malta and internationally, having held senior executive and non executive positions in a number of privately owned companies in Malta, Italy and Cyprus.
He is currently CEO of Fenlex Corporate Services Limited, Managing Director of Impetus Europe Consulting Group and a non executive director of various on-line gaming companies. He is also a Director of Gaming VC Corporation Limited, a Maltese subsidiary of Gaming VC S.A. to which Fenlex Corporate Services Limited also provides certain payroll and administrative services.
The following details are disclosed under Schedule 2 paragraph (g) of the AIM Rules.
Richard Quentin Mortimer Cooper, aged 47, holds or has held over the past five years the following directorships and partnerships:
| Current directorships/partnerships held | Former directorships/partnerships held within last five years |
| Betbug Limited† | Axelstore Limited (formerly Patsystems Holdings Limited)** |
| IPO Grooming Limited | Gbkers Group Limited† |
| Selwood Place Holdings Limited* (formerly Trident Gaming plc) | Gbkers UK Limited† |
| Patsystems (UK) Limited** | Patsystems Holdings Limited** |
| TGMS (Canada) Inc*† | Patsystems PLC |
| Trident (No.2) Limited*† | Patsystems Trustee Limited** |
| The Quentin Consultancy Limited | |
| Trident Gaming Management Services Limited† | |
| Wintrade Limited** | |
*companies incorporated outside the United Kingdom |
|
Karl James Diacono, aged 46, holds or has held over the past five years the following directorships and partnerships:
| Current directorships/partnerships held | Former directorships/partnerships held within last five years |
| Accerta Limited* | Sclavo Diagnostics S.P.A. |
| Bertil Pa Internet Bingo Limited | |
| Bet3G Limited | |
| Bonobet Limited | |
| CSU Corporate Services Limited | |
| Diacono Limited | |
| Evanescent Limited | |
| Gaming VC Corporation Limited | |
| Impetus Europe Consulting Group Limited | |
| KAD Yachting Limited | |
| Lexicom Translation Services Limited | |
| Rubino Catering Limited | |
| RVG Tech Limited | |
| Tempo Gaming Limited |
*Mr Diacono is a director of Accerta Limited which is in dissolution (as of 31 January 2008). Accerta Limited was set up to for a specific project and once the project was completed it was decided to put the company into voluntary liquidation. There is not expected to be a shortfall to creditors.
Neither Richard Cooper nor Karl Diacono has an interest in the Ordinary Shares of the Company.
There are no other matters which are required to be announced with regard to this appointment under paragraph (g) of Schedule 2 of the AIM Rules. Neither Richard Cooper nor Karl Diacono currently has an interest in the Ordinary Shares of the Company. It is intended that options over up to 400,000 ordinary shares in the Company will be granted to Richard Cooper shortly after his appointment. A further announcement will be made following the grant. In July 2007, Gerard Cassels was awarded options over 473,846 ordinary shares in the Company exercisable at 160.43p. The Company was notified on 5 December 2008 that these options were surrendered on 5 December 2008.
For further information:
| Gaming VC Holdings S.A. | |
| Lee Feldman, Chairman | Tel: +44 (0) 20 7398 7700 |
| Kenneth Alexander, Chief Executive Officer | www.gamingvc.com |
Arbuthnot Securities Limited |
Tel: +44 (0) 20 7012 2000 |
| James Steel / Paul Vanstone, Corporate Finance | www.arbuthnotsecurities.co.uk |
Media enquiries:
| Abchurch | |
| Henry Harrison-Topham / Stephanie Cuthbert / Nick Probert | Tel: +44 (0) 20 7398 7718 |
| nick.probert@abchurch-group.com | www.abchurch-group.com |
Notes to editors
Gaming VC is a leading European online gaming company. The Group is headquartered in Luxembourg and is licensed in Malta, Italy and the Netherlands Antilles.
Gaming VC's management team has a wealth of experience in the gaming industry and has a significant track record in successfully identifying and penetrating new markets. The Group is focused on delivering an innovative product offering and is dedicated to providing sophisticated Customer Relationship Management (CRM) to ensure high levels of customer satisfaction.
Gaming VC uses Internet marketing and affiliate networks for customer acquisition and customer retention purposes.
In December 2004, Gaming VC's shares were admitted to the AIM market of the London Stock Exchange. Gaming VC has not and has never had any operations in the US and has never transacted wagering activity by players in the US.
Further information on the Company is available at www.gamingvc.com.