News blog
Betbrokers
- BY: Andrew Hore |
- POSTED: 25/08/2008 |
Betbrokers has placed its main subsidiary in administration.
The retail and wholesale betting brokerage and clearing house says it is still assessing its financial position. Vantis has been appointed as administrator.
Betbrokers plc bought a US business called The Winning Edge last year. It paid in shares and it is unclear whether these assets were put into the subsidiary in administration or kept separate.
Daniel Stewart has resigned as nominated adviser and broker to the company. It replaced Hanson Westhouse in January. Betbrokers has one month to find a replacement or lose its Aim quotation. Given the state of the business it may decide not to bother.
This news came after the close on Friday 22 August and the shares will be suspended from the morning of 26 August.
At 0.25p a share, Betbrokers was valued at £790,000.
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