Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has addressed recent media articles regarding investigations launched in 2019 by the Austrian Economic and Corruption Prosecutor’s Office (WKStA). The investigations involve over 100 individuals, including CEO Harald Neumann and the company’s controlling shareholder, Novomatic AG.
Ainsworth became aware of the WKStA investigations in August 2019 and ensured that all relevant gaming regulators were informed. Mr Neumann, a non-executive director at the time, has been subject to periodic updates in line with the company’s compliance policies.
In response to market speculation, Ainsworth clarified that after seeking legal advice, it was determined that no ASX announcement was necessary due to the investigations being preliminary and lacking substantive allegations. The company continuously monitors the situation through its Regulatory Compliance Committee, which oversees the investigations.
Furthermore, Ainsworth asserted that all but one investigation involving Mr Neumann has been discontinued, with findings indicating no wrongdoing. The last outstanding investigation is expected to resolve soon.
Key Points
- Ainsworth acknowledges recent investigations involving CEO Harald Neumann by WKStA.
- The company has maintained communication with gaming regulators regarding the ongoing investigations since 2019.
- Legal advice received determined there was no need for an ASX announcement regarding the investigations.
- Most investigations involving Neumann have been discontinued with no findings of wrongdoing.
- The remaining investigation is expected to conclude soon, further clearing Neumann’s standing.
Why should I read this?
If you’re connected to the gaming industry or just curious about corporate governance, this article sheds light on how companies handle regulatory investigations. Ainsworth’s proactive approach in addressing the issues concerning their CEO reflects a critical aspect of business transparency. You might be surprised by the complexities involved!
