27th Jun 2006 13:45
Global Gaming Technologies PLC27 June 2006 Global Gaming Technologies plc ("GGT" or "the Company") Board Changes and Directors' Dealings Corvus Capital acquires 26.0 per cent of GGT's issued share capital. London, 27 June 2006, GGT announces that Paul Pullinger, Chief Executive of theCompany has today sold 16,044,341 of his ordinary shares in the Company andChris Cleverly, a Non-executive director of GGT has today sold 13,732,869 of hisordinary shares in the Company, in each case at a price of 0.375p per share. Asa result they now hold 7.1 per cent and 6.1 per cent of the Company's issuedordinary share capital respectively. Both Paul Pullinger and Chris Cleverlyhave resigned from the Board of GGT with immediate effect. Ron Trenter,Chairman of GGT, will assume an executive role until such time as a new ChiefExecutive is appointed. Paul Pullinger and Chris Cleverly have beeninvestigating a number of opportunities for GGT and the Board will consider themif appropriate. Corvus Capital Inc, the Geneva-based investment company headed by ChiefExecutive Andrew Regan, has acquired the shares from Paul Pullinger, ChrisCleverly and a further 18,973,664 ordinary shares from former GGT director,Dominic Johnson giving it a total holding of 48,750,874 ordinary shares, whichequates to 26.0 per cent of GGT's issued share capital. Commenting, Ron Trenter, Chairman of GGT, said: "GGT was incorporated to build a business providing enabling technologies in thegaming sector. We appreciate what Paul and Chris have achieved to date indeveloping such a technology platform which may crystalise value in the future.Notwithstanding this we have taken the decision to re-establish our strategy,with the specific aim of acquiring additional complimentary businesses. I amdelighted that Corvus has become a significant shareholder in GGT, supportingour strategy and allowing us to draw on its resources to pursue this strategy.We have also commenced the process of finding a new Chief Executive for thebusiness and we will inform shareholders of progress as soon as it isappropriate to do so." end Enquiries: John Bick tel: 07917 649362 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sirius Pet