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NETeller Shares: Trading Halted after Arrests |
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Written by Thomas Jensen
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Tuesday, 16 January 2007
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 Online money transfer company NETeller has confirmed on Tuesday January 17th, 2006 that two of its founding shareholders had been detained by US authorities on Monday which also happened to be Martin Luther King, Jr. Day.
NETeller has denied receiving any communications from US authorities however the board of directors requested a temporary suspension of its share on the London Stock Exchange (AIM) immediately until the situation is clarified.
News of Stephen Lawrence and John Lefebvre's detainment broke on Gambling911.com Monday evening sending shockwaves throughout a beat up internet gambling industry.
Both former founders still have significant shares in NETeller but do not currently hold positions with the company other than shareholders.
No charges have been filed at this time. Point-Spreads.com will continue to monitor this ongoing story and we have posted correspondance from NETeller VP of Communications, Andrew Gilchrist below.
The Group has not received any communication or correspondence from any US authority regarding this or any related matter.
Pending clarification of the situation the Board has sought immediate temporary suspension of NETELLER's shares.
Further information will be issued in due course.
Enquiries:
NETELLER
Andrew Gilchrist, VP - Communications + 44 (0) 1293 555 726
Citigate Dewe Rogerson + 44 (0) 207 638 9571
Sarah Gestetner/Sebastian Hoyle/George Cazenove
Further information
Mr Lawrence resigned as a non-executive director of the Company on 13 October 2006 having stepped down as non-executive chairman of the Company on 11 May 2006. Mr Lefebvre resigned as a non-executive director of the Company on 15 December 2005.
Mr Lawrence is the majority beneficial owner of Corvina International Ltd. which holds a total of 7,085,541 ordinary shares representing approximately 5.91% of the issued share capital of the Company. Mr Lefebvre is the beneficial owner of Eagle Medallion Fortress Investment Corporation which holds a total of 6,638,094 ordinary shares representing approximately 5.54% of the issued share capital of the Company.
Notes to Editors
The NETELLER Group
With over 3 million customers in 160 countries, 3,500 merchants, and over $7 billion in annual transactions, the NETELLER Group operates the largest independent online money transfer business in the world. The Group specializes in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance.
Being independent has allowed the Group to support thousands of retailers and merchants in many geographies and across multiple industries.
The Group is quoted on the London Stock Exchange's AIM market, with a ticker symbol of NLR. NETELLER UK Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about the Group visit www.netellergroup.com.
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Last Updated ( Tuesday, 16 January 2007 )
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