Last checked at 29 Mar 2018 07:00
29 March 2018
Veltyco Group PLC
("Veltyco" or "the Company")
Response to ESMA announcement
Veltyco Group PLC (AIM: VLTY), the online marketing and operator company for the gaming industry, notes the recent announcements by the Financial Conduct Authority and the European Securities and Markets Authority ("ESMA") in which they outlined the regulatory changes ESMA proposes in order to prohibit the provision of binary options and to restrict the provision of Contracts for Difference ("CFDs") in order to protect retail clients within the EU, initially on a temporary basis.
The Company confirms that none of the operators for whom Veltyco undertakes marketing activities offer a binary option product, as such products have previously been withdrawn in anticipation of such regulatory changes. Furthermore, the operators have confirmed to the Company that they are operating in line with the restrictions proposed by ESMA on CFD trading. Accordingly, the Board believes that the regulatory changes will have no impact on Veltyco's overall operations and results.
The Company is pleased to confirm that trading for the current financial year remains in line with market expectations.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
Veltyco Group Plc +44 (0)1624 605 764
Gilles Ohana, Non-executive Chairman
Marcel Noordeloos, CFO
Strand Hanson Limited (Nominated Adviser) +44 (0)20 7409 3494
James Harris / Richard Tulloch / James Dance
Whitman Howard Ltd (Broker) +44 (0)20 7659 1234
Francis North / Nick Lovering
IFC Advisory (Financial PR & IR) +44 (0)20 3934 6630
Graham Herring / Miles Nolan / Zach Cohen
About Veltyco
Veltyco is a group of companies focused on generating marketing leads and entering into marketing contracts for the activities of various partners in the gaming industry as well as operating its own brands. Veltyco focuses on complementary activities under one umbrella, leveraging its historical cash generative activities of marketing online casinos and sports betting.
Website: www.veltyco.com