01/10/2014 20:21:09 Free Membership Login

Statement re CEO

Date : 07/18/2006 @ 4:07AM
Source : UK Regulatory (RNS & others)
Stock : Betonsports (BSS)
Quote : 265.0  0.0 (0.00%) @ 12:00AM
Betonsports share price Chart

Statement re CEO

RNS Number:3397G
BETonSPORTS PLC
18 July 2006



                                BETonSPORTS plc



The Board of BetonSports plc ( "BETonSPORTS " ) can update their announcement of
17 July concerning the detention at Dallas airport of its CEO David Carruthers
by US Federal authorities. After being informed of his original detention at
Dallas Airport late on the evening of Sunday 16 July UK time, unsuccessful
attempts on the Board's  behalf were made to contact US officials during Sunday
night to clarify the position. The Board have not been able to contact David
Carruthers other than through his US Counsel but late on the evening of 17 July,
the company obtained a copy of an indictment which was unsealed  by the US
Department of Justice alleging various criminal acts against multiple defendants
which include BETonSPORTS and its subsidiaries and David Carruthers as well as
various individuals and corporations. Other than David Carruthers,  the other
defendants are not involved in the management of BETonSPORTS.



The Board have also noted that in a Press Release issued by the Department of
Justice in the course of the evening of 17 July UK time, reference is made to a
temporary restraining order having been obtained by the US Department of
Justice against BETonSPORTS. The release states that a civil complaint has been
filed in federal court to obtain an order requiring BETonSPORTS to stop taking
sports bets from the United States, and to return money held in wagering
accounts to account holders in the United States and that a  temporary
restraining order was issued yesterday. A hearing in the civil case has been
requested within 10 days. Reference is also made to the FBI  issuing letters to
four telephone companies, instructing them to stop providing phone service to
the Internet sportsbooks and casinos operated by BETonSPORTS.



The Board, to their knowledge, have not been served with a copy of the terms of
the referred temporary restraining order and the Board will make further urgent
enquiries with the relevant US officials in the course of today to clarify the
position.



The Board have in the meantime been reviewing with their lawyers the impact of
the indictment and are considering the serious business  impact of the temporary
restraining order on its business and that review is continuing. Given the
issues and uncertainties involved,  until the review  is complete and a fuller
announcement can be made resolving the uncertainties concerning the future of
the Company, the Board has requested the London Stock Exchange to suspend
trading in the company's shares.





Contact:
Ginny Pulbrook, Citigate Dewe Rogerson
Telephone: +44 (0)20 7282 2945




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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