Paul Ellison and Gareth Roberts of KRE Corporate Recovery Limited expect to be appointed as Joint Liquidators in the above matter shortly.
The proposed Liquidators and management are seeking bids for the Intellectual Property Rights of the Company.
- The business has been trading since 2014 and it is licenced by the UK Gambling Commission as a Remote Gambling Software supplier. It is licensed to manufacture, supply, install or adapt gaming software, and to promote a lottery.
- Under Section 116 of the Gambling Act, the UK Gambling Licence has been surrendered and said licence cannot be transferred to a purchaser. A purchaser is therefore likely to only acquire the intellectual property of the business.
- Turnover has been between £250-300k for the past three years.
Interested parties should sign an NDA which can be found at the following link; https://www.dropbox.com/s/ipk3od9035t20q9/Project%20Lottery%20NDA.pdf?dl=0 and return to Chris Errington (firstname.lastname@example.org). Expressions of interest for the business and assets are required by 5pm on 13 October 2021 with indicative offers to be received by 5pm on 15 October 2021.
If you require any further information please contact Chris Errington (email@example.com) on 01189 479090.
INTRODUCTION AND CONDITIONS
This summary has been prepared in connection with the proposed sale of 100% of the shares and or trade and assets of the Company.
By accepting this summary the recipient agrees to keep permanently confidential all information that it contains. This summary may only be made available to those members of the recipient’s staff who require to be directly involved in the appraisal of the opportunity and the recipient’s bankers and professional advisors. It should not be made available to any other third party without the prior written approval of KRE Corporate Recovery Ltd (“KRE”). Furthermore, no contact should be made with the Company or any of its staff, customers, suppliers or shareholders without the express permission of KRE Corporate Recovery Ltd.
The information in this summary, which does not purport to be comprehensive, has been completed from information provided to KRE Corporate Recovery Ltd by the Company and has not been independently verified by KRE Corporate Recovery Ltd. Intending purchasers should not rely on the information contained in this summary, and must satisfy themselves as to the accuracy of all such information. KRE Corporate Recovery Ltd has been appointed by and is acting for the shareholders of the Company and, with the exception of any duties or liability which it may have under the Financial Services and Markets Act 2000, will not be responsible to any third party for the information contained in this memorandum.
No person, either as a Director of or in the employment of KRE Corporate Recovery Ltd, has any authority to make, imply, or give any representation warranty or indemnity whatsoever in relation to this proposed sale including the information contained in this summary. No responsibility or liability is or will be accepted by the Company or KRE Corporate Recovery Ltd or by any of their respective officers, employees or agents in relation to any inaccuracy or incompleteness of this summary and any liability is hereby expressly disclaimed. In particular, but without prejudice to the generality of the foregoing, no representation, warranty or assurance is given as to the achievement or reasonableness of any future projections, management projections, management estimates or prospects contained in this summary.
The distribution of this document may be restricted by law in certain jurisdictions and as such, recipients of this document represent that they are able to receive this document without contravening any unfulfilled registration requirements or are bound by other legal requirements or restrictions in the jurisdictions in which they reside or conduct business.
This document is exempt from the restriction on financial promotions contained in the Financial Services and Markets Act 2000. In particular, this Opportunity Summary is only being distributed in the United Kingdom to: a) persons who are investment professionals falling within article 19(1) of the Financial and Markets Act 2000 (Financial Promotion) Order 2005 in the United Kingdom (the “order”); (b) high net worth individuals (who meet the criteria for such classification contained in article 48(2) of the Order, or companies or other bodies who are reasonably believed to fall within articles 48(2) and 49(2) respectively of the Order; or (c) other persons whom it may be otherwise lawfully communicated to (whether pursuant to the Order or otherwise).
KRE Corporate Recovery Ltd Limited will only engage with individuals or organisations who fall within the above description in connection with anything relating to this document and the information contained within.
Any individual or organisation that does not fall within the categories of the above description should not under any circumstance rely or act upon this document or any information within this document. In the event, that an interested party is in any doubt about their classification in terms of the description above or about a proposed investment or acquisition. Such parties must consult with an “authorised person” for the purposes of FSMA.
This summary has been sent to prospective purchasers for information purposes only and upon the express understanding that it does not form the basis of a contract.