Ainsworth Comments on Historical Investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has acknowledged recent media articles concerning investigations initiated by the Austrian Economic and Corruption Prosecutor’s Office (WKStA) in 2019. The investigations involve over 100 individuals, including CEO Harald Neumann and controlling shareholder Novomatic AG.
Ainsworth first became aware of these investigations in August 2019 and has kept gaming regulators informed. Although Ainsworth usually doesn’t comment on market speculation, it confirmed the absence of sufficient evidence to warrant an ASX announcement. The Board has monitored the situation and noted that most investigations, except for one, have been discontinued.
Key Points
- Ainsworth acknowledges recent media reports regarding ongoing investigations into its CEO and affiliated parties.
- The WKStA began investigating in 2019, encompassing over 100 individuals.
- Mr Neumann was a non-executive director at the time the investigations were announced.
- Ainsworth assured that regular updates have been given to relevant gaming regulators.
- The company determined, in consultation with legal advisors, that there was no need for additional disclosures regarding the investigations.
- All investigations involving Mr Neumann have predominantly been closed with no findings of wrongdoing.
- The remaining investigation is expected to conclude soon, pending final regulatory approvals.
Why should I read this?
If you’re interested in the operations and ethics of gaming companies, this article is a must-read. It sheds light on how Ainsworth is handling a sensitive situation concerning its leadership and regulatory compliance, giving you insights into corporate governance in the gaming industry.