MGT Chairman and CEO Tim Paterson-Brown increases holdings to 5%
NEW YORK, Nov. 16 /PRNewswire-FirstCall/ -- MGT Capital Investments, Inc. (AMEX:MGT), a holding company focused on the Healthcare Information Technology ("HCIT") sector, today announced that the Company's Chairman and CEO, Tim Paterson-Brown, has acquired an additional 500,000 shares of MGT common stock from an existing shareholder in a single private transaction at $3.50 per share, for $1,750,000. He now holds 2,000,000 shares or 5.14% of the Company.
Tim Paterson-Brown, Chairman and CEO, stated, "In spite of the recent positive developments for MGT's Medicsight and Medicexchange subsidiaries, I still hold firm in my belief that the value of these businesses is not accurately reflected in today's MGT share price. My confidence in the growth of MGT is unwavering, and I have been a consistent buyer of the stock, using over $8,500,000 of my own money to invest in MGT over the last three years. " About MGT Capital Investments, Inc.
MGT Capital Investments, Inc is a holding company that focuses on investments in the global healthcare information technology market. The Company has two subsidiaries, Medicsight PLC and Medicexchange PLC.
Medicsight PLC (traded on the AIM market of the London Stock Exchange, under the Ticker symbol MDST) is a medical imaging software development company developing enterprise-wide Computer-Aided Detection (CAD) software which analyzes computer tomography (CT) scans for the early detection and measurement of colorectal polyps and lung lesions. Medicsight has focused on two of the leading causes of cancer-related death, colorectal cancer and lung cancer.
Medicexchange PLC provides medical imaging professionals with a global web portal containing an online sales, jobs and information channel for diagnostic, treatment and surgery planning solutions. This combined with a variety of relevant clinical papers, training materials and content gives these professionals access to information and products that they otherwise would have difficulty accessing.
Additional information can be found at http://www.mgtci.com/.
All forward-looking statements are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, the risks described in company filings with the Securities and Exchange Commission.
For further information: Media enquiries:
MGT Capital Investments KCSA Worldwide
Alex van Klaveren Todd Fromer / Garth Russell
Tel: +1 646-257-2644 Tel: +1 212-896-1215 / 212-896-1250
/ http://www.mgtci.com/ DATASOURCE: MGT Capital Investments, Inc.
CONTACT: Alex van Klaveren of MGT Capital Investments, +1-646-257-2644, ; Todd Fromer, +1 212-896-1215, , or Garth Russell, +1-212-896-1250, , both of KCSA Worldwide Web site: http://www.mgtci.com/
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