CryptoLogic Limited
TSX : CRY
TSX : CXY
NASDAQ : CRYP
LSE : CRP

CryptoLogic Limited

May 15, 2009 02:00 ET

CryptoLogic Appoints New Chairman, Proposes Additional Independent Director

DUBLIN, IRELAND--(Marketwire - May 15, 2009) - CryptoLogic (TSX:CRY)(TSX:CXY)(NASDAQ:CRYP)(LSE:CRP), a world leader in Internet casino and branded gaming software, today announces that its board has selected David Gavagan as its new independent non-executive chairman. The appointment takes effect after CryptoLogic's annual shareholders' meeting on June 3, 2009.

Mr. Gavagan, a Fellow of the Institute of Chartered Accountants in Ireland, joined CryptoLogic's board as an independent non-executive director in June 2008. He will succeed Robert Stikeman, who steps down as chairman but continues as a non-executive director. Mr. Gavagan has more than 29 years' boardroom experience at many public and private companies. He was the co-founder and managing partner of a private equity fund.

"I am honoured to succeed Robert Stikeman, who helped pioneer the Internet gaming industry and provided strong leadership as CryptoLogic's chairman for the past six years," Mr. Gavagan said. "As CryptoLogic enters a new stage of its development, today's announcement reflects our continued commitment to the highest standards of corporate governance, and to long-term value for our shareholders."

CryptoLogic also announces today that it proposes to appoint James Wallace as an independent non-executive director at the annual meeting. Mr. Wallace's appointment, if approved by shareholders, will increase the total number of independent directors to four.

Mr. Wallace, a Fellow of the Institute of Chartered Accountants in England & Wales, has extensive experience as a public company director. He is currently chairman of Scapa Group plc, the senior independent non-executive director and audit committee chairman of NCC Group plc, and a non-executive director of the Manchester Airport Group. In the past, Mr. Wallace has served as chairman of Bodycote International plc, senior independent non-executive director of Holidaybreak plc, chairman of Sigma Capital Group plc and chairman of the audit committee of Sanctuary Group plc.

Contact Information

  • CryptoLogic
    Stephen Taylor
    Chief Financial Officer
    353 (0) 1 234 0415
    or
    Argyle Communications
    Jason Graham
    (North American and gaming industry media)
    (416) 968-7311, ext 229
    jgraham@argylecommunications.com
    or
    Argyle Communications
    Daniel Tisch
    (North American and gaming industry media)
    (416) 968-7311, ext 223
    dtisch@argylecommunications.com
    or
    Corfin Communications
    Neil Thapar
    (UK media only)
    +44 207 977 0020
    or
    Corfin Communications
    Harry Chathli or Alexis Gore
    (UK media only)
    +44 207 977 0020