US Board Appointment and Option Exercise/Share Sale (App 3X)
Sydney, Sep 4, 2020 AEST (ABN Newswire) - The Board of BetMakers Technology Group Limited (
ASX:BET) (T07:FRA) is pleased to advise that it has taken the next step in its global growth strategy by appointing a highly credentialed director to assist the Company with its international expansion.
Effective today, Matt Davey has joined the Board as BetMakers' US resident Non-Executive Director and will assist the Board and management with the Company's growth agenda. Mr Davey brings a deep knowledge of the US gaming and wagering market. Mr Davey was previously CEO of NYX Gaming Group, which was sold to Scientific Games (NASDAQ:SGMS). As CEO of NYX Gaming Group, he developed a successful corporate strategy that generated significant revenue growth, and acquired ten companies, including OpenBet, which powers one of largest aggregate volume of the world's online sports bets, and became one of the leading suppliers of digital gaming content and technology.
Mr Davey said "I've been impressed with how the team at BetMakers has rapidly executed on their growth plans. Having established its position as a key stakeholder in the racing industry, the Company has a tremendous opportunity for expansion in both the mature and emerging international wagering markets. I look forward to working directly with the Board and supporting their global expansion plans."
Director Exercise of Options & Sale of Shares
BetMakers advises that today it has issued 17,521,224 fully paid ordinary shares ("Shares"), of which:
- 16,667,000 Shares were issued to Todd Buckingham, Managing Director of the Company, on the exercise of that number of unlisted options ("Options"); and
- 854,224 Shares were issued to various employees of the Company on the exercise of 1,361,404 Options issued under the Company's long term incentive plan under the cashless exercise facility.
BetMakers further advises of the sale of 8.5m Shares by Todd Buckingham. Proceeds from the sale will be partly used to fund the exercise of the 16,667,000 Options and cover the associated tax obligations. Following the transaction, Mr Buckingham's interest in the Company increases from ~6.5m Shares to ~14.6m Shares.
Mr Buckingham said "As a founder of BetMakers, I am very proud of what the team has achieved over the last few years and the value that we have created for our shareholders. I am delighted that we have been able to build such a strong business which is now expanding into the US and other markets. I am incredibly excited about the next phase of the Company's growth strategy and I am exercising my options so that I can continue to participate in the BetMakers growth story."
About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (OTCMKTS:TPBTF) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.
| ||
|
