Fast Bet Solutions Plc
LSE : FBSP

February 22, 2013 11:35 ET

Withdrawal from ISDX

                                          Fast Bet Solutions Plc                                                    
                                       ("Fast Bet" or the "Company")
                                                     
                                           Withdrawal from ISDX
                                                     
Grahame Rose and Miles Nicholson, appointed as Directors of the Company in July 2012 ("New Directors"),  in
place  of  the  Company's  previous  management undertook a complete  Strategic  Review  of  the  Company's
activities  and financial position. The review by the New Directors revealed, inter-alia, that  £25,000  of
convertible  loan notes in the Company, convertible at a price of 0.2 pence per share (the  "Loan  Notes"),
had  been  issued to Athol Gold and Value Limited on 1 January 2012. The issue of the Loan  Notes  was  not
announced at the time.

Following  that  review and at the request of the Directors of the Company, trading in Fast Bet's  ordinary
shares  on  the ISDX Growth Market was suspended on 21 August 2012, pending clarification of the  Company's
financial position.

Whilst  suspended, the Company worked very closely with its advisors to try to restructure the Company  and
put  it  in  a  position  to  attract further finance on terms that would be acceptable  to  the  Company's
Shareholders. Unfortunately, the Company has been unable to attract such finance; therefore,  pursuant  to
Rule  79  of  the ISDX Growth Market Rules for Issuers, the Company will be withdrawn from the market  with
effect from the close of business today, 22 February 2013.

The Directors of the issuer accept responsibility for this announcement.



                                                  --END-
                                                     


Enquiries:

FAST BET SOLUTIONS PLC
Grahame Rose
+44 12 3478 2896

PETERHOUSE CORPORATE FINANCE
Fungai Ndoro and Eran Zucker
+44 20 7469 0930



Contact Information

  • Fast Bet Solutions Plc