Neteller Resumes TradingIn a sign that could add some comfort to those customers owed money by online gambling money transaction company, Neteller, that firm has resumed trading on the London AIM.
Shares of the online payment processor Neteller Plc. were today returned to trading on the Alternative Investment Market (AIM) following resolution of the company’s legal situation in the United States and the publication of their 2006 annual audited accounts.
Neteller’s shares had been suspended from trading since 16th January following the arrest of the company’s two founders and former directors, John Lefebvre and Stephen Lawrence. Neteller’s shares were due to have been de-listed from AIM following their suspension which lasted for six months, the maximum length of time that shares may remain suspended under AIM rules.
Following the restoration of Neteller’s shares, Daniel Stewart & Co. Plc has been appointed as the company’s nominated adviser and broker.
Ron Martin, President and CEO said: “The restoration of trading in the Company’s shares marks the first step in a new chapter for the Neteller Group following our resolution with the US authorities announced last week.”
“With our vision to provide innovative payment solutions for e-commerce communities, our initial focus will be to dominate payments in our chosen online gaming markets.”
“Online payments in many market sectors are growing rapidly and we believe that the e-wallet will continue to grow in popularity. While there is much work to do and many challenges lie ahead, we believe that the Company is well positioned to benefit from these trends.”
The company also confirmed that it continues to progress its plans to implement the Distribution Plan for the return of approximately $94 million of US customers’ funds by 30 July 2007.
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Gambling911.com News Wire
Originally published July 25, 2007 11:59 am ET
