The Board wish to clarify that the matters referred to in the Article do not relate to, or in any way affect, the performance, prospects or financial position of TopBetta and accordingly, the Board do not consider there to be any grounds to believe that there is any exposure for TopBetta based on the issues raised in the Article.
For the avoidance of any doubt, TopBetta wishes to confirm to investors that:
- TopBetta has no knowledge of the matters referred to in the Article, other than information which is publically available. Such matters are unrelated and completely external to TopBetta's prior and current affairs;
- TopBetta is not aware of any formal ongoing investigation into the affairs of Ray Walker and, accordingly, is not a part of any such investigation;
- RBW Nominees currently holds 10.2m shares in TopBetta, representing 6.21% of TopBetta's total issued capital. Of these shares, 8.55m shares (5.2%) are escrowed until December 2017 and cannot be sold until that time; and
- in the unlikely event an adverse determination is ever made against RBW Nominees, there are no reasonable grounds to believe that such a determination would affect the performance, prospects or financial position of TopBetta's businesses. The Article states that there is no evidence to suggest that RBW Nominees received misappropriated funds.
About Topbetta Holdings Ltd
TopBetta Holdings Limited (ASX:TBH) is licensed to conduct race wagering and sports betting under the Bookmakers and Betting Exchange Act 1998 (Northern Territory).
The Company has built proprietary technology platforms that combine an online racing and sports wagering offering with a fantasy wagering platform and enables sports fans to compete against each other via online tournaments.
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