Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has responded to media reports detailing investigations initiated by the Austrian Economic and Corruption Prosecutor’s Office (WKStA) in 2019, involving CEO Harald Neumann and others connected to Novomatic AG. Ainsworth became aware of these investigations back in 2019 and has kept gaming regulators informed throughout the process. Neumann was initially a non-executive director at Ainsworth during the investigation’s outset. Ainsworth’s Board, after seeking legal advice, determined no ASX announcement was necessary at that time due to the preliminary nature of the investigations.
Key Points
- Ainsworth acknowledges media reports about ongoing investigations related to CEO Harald Neumann.
- The investigations have been public knowledge since 2019, with Ainsworth updating regulators as necessary.
- A legal assessment led the Board to conclude that the investigations did not warrant an announcement due to lack of substantive evidence.
- Most investigations involving Mr Neumann and Novomatic AG have been discontinued, with no findings of wrongdoing in most cases.
- Neumann’s position as CEO was confirmed following a probity investigation indicating he was suitable for the role despite ongoing inquiries.
Why should I read this?
If you’re in the gaming industry or just curious about corporate governance, this article sheds light on the importance of compliance and disclosure in the face of legal investigations. Ainsworth’s proactive approach to communicating with regulators and handling potential crises could provide valuable insights for those navigating similar challenges in any industry.