19 December 2019

NEKTAN PLC

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

Directorate Change

Nektan plc (AIM: NKTN), the fast-growing international gaming technology platform and services provider, is pleased to announce the appointment of Paul Hughes as a Non-Executive Director of the Company with immediate effect.

Paul has extensive corporate banking and commercial experience, with a focus on fundraising, the turnaround of loss-making businesses, risk management and fast-growing private and public companies. He also has extensive experience as a non-executive director and chairman of a variety of private and public companies.

Gary Shaw, Executive Director and Interim CEO of Nektan, said, "I am delighted to welcome Paul to the Board during this pivotal period for the Company and look forward to working with him in the years ahead. The expertise he has built up in the growth company sector will be extremely valuable for the business going forward."

For further information on the Group, please contact: 

Regulatory disclosures (in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies)

Paul Martyn Hughes, aged 61, is or has been during the last five years, a director or partner of the following companies/partnerships:

Current directorships/partnerships:

04288591 Limited

Deflux Holdings Limited

Deflux Limited

Fast2fibre Limited

Gwythermead Limited

Platform Social Gaming Limited

Sparkledun Limited

Taunton East Development Trust

Ultrarecycle Limited

Ultrasupport Services Limited

Ultratec (Holdings) Limited

Previous directorships/partnerships within the last 5 years:

Adventure Holdings Limited

Allen Group International Limited

Ash Homes (Taunton) Limited

BBH Corporate Limited

Concorde (London) Limited

Eaton Place LLP

Fast2fibre (Holdings) Limited

Oaksfield Limited

Prsmseg Limited

Queen's College Taunton Trustee Company Limited

Sidford Cross (Sidford) Limited

Ultratec Group Limited

Ultratec Refining & Recycling Limited

Visage (Aberdeen) Limited

Zugar Znap Group Limited

Zugar Znap Limited

Paul Hughes also makes the following disclosures in accordance with Schedule Two paragraph (g) of the AIM Rules for Companies.

04288591 Limited (formerly known as Diamond Lifestyle Limited) (Paul Hughes served as a non-executive director since 8 December 2006)

The company entered creditors voluntary liquidation on 22 July 2008. As per the liquidator's statement of receipts and payments dated 5 February 2010, the total realisations of the company stood at £80,244.62 while the total disbursements were mentioned as £69,425.50. There were no preferential and unsecured debts. The company was dissolved on 27 August 2010. On 29 September 2016, upon an application by a creditor of the company at the High Court of Justice Chancery Division Manchester District Registry, the company was restored on Companies House. Furthermore, the court directed that following the restoration, the company was to be deemed to be in existence as if its name had not been struck off and the company would continue in compulsory liquidation.

A. & H. Gadd Limited (Paul Hughes served as an executive director from 1 April 1998 until 24 February 2012)

The company entered into administration on 10 December 2009 ceasing on 9 July 2010 when the company moved from administration into creditors voluntary liquidation. The company was ultimately dissolved on 26 February 2014. At the commencement of winding up, the amount that was due to the unsecured creditors totalled £469,536,200 and that due to preferential creditors was £96,000.

Alchemy Animedic Limited (Paul Hughes served as a non-executive director from 3 June 2002 until 13 May 2008)

On 19 April 2006, the company went into administration which ended on 23 April 2007 when the company went into creditors voluntary liquidation. The unsecured creditors of the company were stated as nil and the company was dissolved on 13 May 2008.

Allen Group International Limited (Paul Hughes served as a non-executive director from 2 November 2006 until 12 August 2015)

On 23 December 2009, the company entered into creditors voluntary liquidation and was dissolved on 12 August 2015. At the date of the commencement of winding up, the amount that was due to the unsecured creditors totalled £502,229.44.

Ash Homes (Taunton) Limited (Paul Hughes served as a non-executive director from 16 June 2000 until 24 October 2016)

On 15 December 2009, an administrative receiver was appointed and acted until 31 August 2016. The company was dissolved on 27 June 2017.

Diamond Lifestyle Holdings Plc (Paul Hughes served as a non-executive director from 20 April 2006 until 6 January 2009)

The winding up of the company commenced on 22 July 2008. The unsecured debts totalled £263,650.85 from three creditors, however, there were no funds to pay dividends. The company was then dissolved on 25 December 2009 following creditors voluntary liquidation.

Diamond PRC Solutions Limited (Paul Hughes served as a non-executive director from 8 December 2006 until 6 February 2010)

The company entered creditors voluntary liquidation on 7 August 2008 and was dissolved on 6 February 2010. At the date of the commencement of winding up, the amount that was due to the unsecured creditors totalled £3,651.86.

Fast2fibre (Holdings) Limited (Paul Hughes served as a non-executive director from 31 March 2015 until 18 April 2019)

The company entered administration on 2 January 2018 which ceased on 20 December 2018 when the administrators gave notice to move to dissolution. The company was dissolved on 18 April 2019. There were seven unsecured creditors, including HMRC, with estimated claims totalling £60,687.31. Due to insufficient asset realisations and the cost of administration, no dividend was paid to unsecured creditors. 

Gadd Holdings Limited (Paul Hughes served as an executive director from 2 February 2006 until 24 February 2012)

The company went into administration on 23 December 2009. The administration ended on 21 June 2011 and the company then moved to a compulsory liquidation. It was dissolved on 26 December 2014.

Gadd Homes Limited (Paul Hughes served as an executive director from 20 July 1999 until 24 February 2012)

The company commenced creditors voluntary liquidation on 1 March 2010 and dissolved on 13 March 2013.

Oaksfield Limited (Paul Hughes served as a non-executive director from 14 September 2006 until 23 June 2017)

The company began winding up on 6 September 2013 and was dissolved following a compulsory liquidation on 23 June 2017. The unsecured creditors' claims totalled £193,092.00 from four creditors, however, the realisations were insufficient for a dividend to be declared.

Peropa Limited (Paul Hughes served as a non-executive director from 23 April 2001 until 3 February 2006)

On 2 May 2003, Peropa entered into creditors voluntary liquidation and was dissolved on 3 February 2006. At the date of commencement of winding up, the amount due to unsecured creditors totalled £590,791. 

Windlesham Limited (Paul Hughes served as a non-executive director from 14 September 2001 until 3 August 2006)

The company was dissolved on 3 August 2006 following voluntary creditors liquidation which commenced on 2 May 2003. At the commencement of winding up, the amount that was due to the unsecured creditors totalled £359,562.

Paul Hughes has today been granted options over 1,166,667 ordinary shares of 1 penny each in Nektan plc, which are exercisable at 6 pence per share, vest immediately and have an exercise period of two years. He has no other interest in ordinary shares in the Company.

Paul Hughes has confirmed that there are no further disclosures to be made in accordance with Schedule Two paragraph (g) of the AIM Rules for Companies

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

About Nektan:

Nektan is a fast growing, international gaming technology and services provider, specialising in mobile casino. It licenses its proprietary technology to leading operators, including BetVictor, and provides end-to-end technology and white label casino services for leading brands, including News International's The Sun Play.

Nektan's full end-to-end technology platform, Evolve, enables the management of the full customer experience and back-office operations, allowing 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.

Nektan has a material stake in US-based interactive gaming operator Rapid Games, which provides US land-based casinos with an in-venue mobile gaming solution. It allows operators to add mobile technology and content making products accessible to players across both cabinets and mobile devices inside casinos.

Headquartered in Gibraltar, Nektan is regulated by the Gibraltar Licensing Authority, the UK Gambling Commission and the Information Commissioners Office. As a socially responsible license 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.