Nektan PLC Suspension to Trading on AIM (4702J)

TIDMNKTN

RNS Number : 4702J

Nektan PLC

14 April 2020

14 April 2020

NEKTAN PLC

("Nektan", the "Company" or the "Group")

Notice of Intention to Appoint Administrators

and

Suspension to Trading on AIM

Further to its announcement of 31 March 2020, Nektan (AIM: NKTN), the international gaming technology platform and services provider, announces that it has failed to secure the necessary funds for the requisite additional working capital necessary to secure the future of the Company. As a result, the Company has commenced the process in the Gibraltar courts to seek to appoint an administrator, whose appointment is expected to be effective later today. The Company has therefore requested that trading on AIM in its ordinary shares be suspended with effect from 7.30 a.m. today. A further announcement will be made in due course

For further information on the Group, please contact:

 
 Nektan 
  Gary Shaw, Interim Chief Executive Officer 
  Simon Hay, Chief Financial Officer 
  Kam Bansil, IR                                       [phone] 
 
 Shore Capital (Nominated Adviser and Joint Broker) 
  Tom Griffiths / David Coaten                         [phone] 
                                                      ----------------- 
 
 Novum Securities (Joint Broker) 
  Jon Belliss / Colin Rowbury                          [phone] 
                                                      ----------------- 
 
 

Further information on Nektan can be found on the Group's website at www.nektan.com .

About Nektan:

Nektan is an international gaming technology and services provider, specialising in mobile casino. It licenses its proprietary technology to leading operators, including BetVictor.

Nektan's full end-to-end technology platform, Evolve, enables the management of the full customer experience and back-office operations, allowing operators on this platform to allow their partners to focus on marketing the product to their consumers.

The E-Lite platform is Nektan's B2B gaming content aggregator and bonusing platform that delivers a wide range of premium content from the world's leading game studios. It is an easily-integrated add on module for operators, giving them an array of options and flexibility on how they manage and distribute a breadth of premium gaming content across their networks.

Headquartered in Gibraltar, Nektan is regulated by the Gibraltar Licensing Authority, the UK Gambling Commission and the Information Commissioners Office. As a socially responsible licence holder, Nektan endeavours to deliver a safe, secure and robust player gaming experience.

Nektan plc was admitted to the AIM market of the London Stock Exchange in November 2014.

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April 14, 2020 02:30 ET (06:30 GMT)