Sirius Pet Regulatory News (SRSP)

27 Jun 2005 07:00

Global Gaming Technologies PLC27 June 2005 Global Gaming Technologies PLC ("GGT" or "the Company") Acquisition of Event Data Correlation Limited ("EDC") Admission to Trading on AIM London, 27 June 2005, GGT announces the acquisition of Event Data CorrelationLimited ("EDC") and the admission to trading of its shares on AIM today.Shareholder approval was obtained at the Extraordinary General Meeting of theCompany on 24 June 2005 in respect of the acquisition of the entire issued sharecapital of EDC for a consideration of 134,166,667 new Ordinary Shares, equatingto £15.094 million. GGT has also raised £525,000 (net of expenses) of new moneythrough the issue of 5,625,000 Commitment Shares and the issue of 4,166,667Placing Shares. Paul Pullinger, co-founder and CEO of EDC and now CEO of the enlarged Company,said: "The reverse takeover of GGT provides us an ideal base to build-out ourbusiness. We have a strong management team and a compelling commercial andtechnical platform where our initial focus is on proprietary trading acrossglobal online sports betting markets." The following directors of EDC have joined the Board of GGT. Ron Trenter, 60previously with Ladbroke Group plc, Texas Homecare and Home Charm Group plc,joins the board as non-executive Chairman. Paul Pullinger becomes chiefexecutive officer. Paul is 41 and has over 20 years experience working in thegaming industry for Bass, Granada and Rank. Dominic Johnson joins as executivedirector, aged 38, previously with Autonomy Corporation plc as chief marketingofficer and worked at News Corporation, Channel Four and Granada Television.Chris Cleverly joins the board as non-executive director, aged 37, a qualifiedbarrister and founder and CEO of Sweet China plc, a publicly-quoted investmentvehicle. Summary points of the EDC business are: • EDC has developed a proprietary platform to identify and exploittrading opportunities in the fast growing and fragmented global online gamingmarket. • EDC's management team has extensive experience across the sportsbetting, financial and technology sectors. • Utilising its proprietary aggregation and correlation software EDCidentifies and exploits trading opportunities from the vast amounts of onlinesports betting data and capitalises upon the opportunities offered across globalmarkets. • EDC monitors real-time (sub-second) event-based data on a continualbasis across multiple betting exchanges and bookmakers. ends Enquiries: Dominic Johnson, Director, GGT tel: 020 7929 5599 John Bick, Holborn tel: 020 7929 5599 This information is provided by RNS The company news service from the London Stock Exchange