Ainsworth Comments on Historical Investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has made a statement regarding ongoing investigations by the Austrian Economic and Corruption Prosecutor’s Office (WKStA), which involve over 100 individuals, including CEO Harald Neumann. These investigations began back in 2019, raising concerns that the company addresses head-on.
The findings reveal that the investigations had been disclosed to gaming regulators, and updates have been provided periodically. Ainsworth’s Board, taking into account legal advice, determined that no formal market disclosure was necessary initially, citing a lack of concrete evidence behind the allegations.
Key Points
- WKStA investigations initiated in 2019 involve more than 100 individuals, including CEO Harald Neumann and Novomatic AG.
- Ainsworth first learned about these investigations in August 2019 and communicated with relevant regulators thereafter.
- The Board felt no initial ASX announcement was required due to the lack of definitive evidence against anyone involved.
- All but one of the investigations against Neumann and Novomatic AG have been closed with no findings of wrongdoing.
- Regulatory Compliance Committee regularly monitors the situation and provides updates.
Why should I read this?
If you’ve got a finger on the pulse of the gaming sector, this article is a must-read! Ainsworth’s proactive approach to regulatory oversight and transparency in addressing these investigations is crucial. It not only impacts their reputation but also has broader implications for the gaming industry’s regulatory landscape. Stay informed about the dynamics at play in high-stakes corporate governance.