DIRECTOR DEALINGS: Three GameAccount Directors After Amid Widened Loss

LONDON (Alliance News) - GameAccount Network PLC Tuesday said three of its board members bought 620,514 shares as the gaming software and online gaming content developer reported a widened loss for 2015.

Chief Executive Officer Dermot Smurfit bought 566,943 shares, taking his total shareholding to 9.1 million shares, which equals a 13.96% stake in the group.

Chairman David O'Reilly bought 35,714 shares, increasing his holding to 2.8 million shares, or a 4.22% stake.

Non-Executive Director Seamus McGill bought 17,857 shares and now holds 89,286 shares, or a 0.14% stake.

The shares were bought at a price of 28 pence per share on Friday

GameAccount Network last Thursday reported a widened pretax loss for 2015, and expressed confidence for 2016 and beyond as it looks to expand in the US, rolling out its Simulated Gaming product in new casinos.

The company reported a pretax loss of GBP5.6 million for 2015, widened from a pretax loss of GBP2.6 million in 2014, as revenue fell to GBP25.8 million from GBP26.1 million, and distribution costs increased.

The stock was down 8.0% at 34.36p Tuesday.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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