betinternet.com plc, the global on-line gaming group, today announces the following board changes.
At a meeting of the Board of the Company today, and following the completion of the recent management re-structuring, Mr Jim Mellon stood down as chairman and resigned as a director of the Company with immediate effect and was replaced by Mr Denham Eke.
Mr Eke is Managing Director of Burnbrae Limited, a private investment company, which is interested in 25,000,000 ordinary shares in betinternet.com plc, representing 21.4% of the Company’s issued share capital.
Jim Mellon is a beneficiary of a trust that holds the entire issued share capital of Burnbrae Limited, and considers it more appropriate for an executive of Burnbrae Limited to be its representative on the board. Separately, Mr Mellon is also interested in 718,000 ordinary shares in the Company.
In addition, Mr Hugh Mac Giolla Ri joins the Board as a non-executive director. Mr Mac Giolla Ri is an accountant based in Dublin, with experience of assisting growing companies.
Both appointments are subject to approval by the Isle of Man Gambling Control Commissioners, the regulatory body which governs betinternet.com plc.