3 October 2016
(“Ganapati” or “the Company”)
Ganapati Plc, is pleased to provide a trading update for the period ending 30 September 2016.
Further to the Trading Statement issued on 30 August 2016 and, the establishment of the Maltese subsidiary Ganapati (Malta) Ltd, Ganapati wishes to inform its shareholders that Ganapati (Malta) Ltd is now considered the most appropriate applicant in respect to obtaining regulatory approval for gambling activities both in the UK and other territories.
Accordingly, following constructive dialogue with the UK Gambling Commission, the Board has decided not to proceed with the original application for a UK Gambling licence, which was submitted in the name of Ganapati Plc. Instead, the Directors intend to submit a new gambling licence application from its subsidiary Ganapati (Malta) Ltd to the relevant regulatory bodies in both the UK and Malta.
Consequently, the Company’s application submitted to the UK Gambling Commission will be withdrawn pending a fresh application.
A further update in respect of regulatory matters will be given in the Interim Statement to shareholders which will be made before the end of October 2016.
Neither this announcement nor the information contained herein constitutes an offer or solicitation by Ganapati Plc for the purchase or sale of any securities, nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful.
The Directors of Ganapati Plc accept responsibility for this announcement
CORPORATE ADVISER AND CONTACT DETAILS:
Telephone: 07973 737284
ISDX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott – Corporate Finance
James Dewhurst – Corporate Broking
Telephone: +44 (0) 20 7448 9820