MANAGED GAMING SOLUTIONS PLC
Mobile Gaming Solutions and Topgain Joint Venture Withdraws from Romanian Transaction
MOBILE GAMING SOLUTIONS PLC / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- London, May 9, 2008 – The Joint Venture between Mobile Gaming Solutions Plc (MGS), a leading provider of mobile and interactive gaming solutions, and Topgain Investments, announced today that it has informed Mobile Centric Applied Technologies Ltd (MCAT UK) that is has withdrawn from the acquisition of a majority stake in the Romanian company Mobile Centric Applied Technologies S.R.L. (MCAT). Following a detailed review of the MCAT business model and set-up in the pre-completion phase, unexpected technical and legal complexities were identified by the Joint Venture team. Matias Collan, COO of Mobile Gaming Solutions commented: 'At MGS side, we initially supported the project from a strategic point of view, especially since we liked the innovative game concept of MCAT, and the fact that they were intending to establish a B2C SMS game operation in an emerging European country. After having carefully reviewed the operational set-up of MCAT during the recent weeks, and the reassessed impacts on the strategic objectives we had defined for this project at the Joint Venture level, we realised that the inherent risk profile of this project has changed too much to the detriment of the Joint Venture to justify further efforts on the current basis', Collan stated. 'What is important to mention is that for MGS stand-alone, the acquisition of the shareholding in MCAT had an opportunistic character, since it was not part of our initial plans for 2008 / 2009. Thus it would have only meant an add-on to our own business model. MGS will review its strategy for South-East Europe in the following weeks. A reversal of this deal does not directly influence our strategy related to other activities. We continue with pursuing our growth strategy, both stand-alone as well as through acquisitions', Collan continued. You can find more information about the company, its services, products and business operations on the company’s website www.mobilegamingsolutions.net For any further information, please contact our Investor Relations Team: esVedra consulting GmbH Metis-Corinna Tarta t +49. 89. 28 80 81 33 f +49. 89. 28 80 81 49 info@esvedra-consulting.com www.esvedra-consulting.com About Mobile Gaming Solutions Plc Mobile Gaming Solutions Plc is a technology & service provider for mobile and interactive TV gaming. The company provides its customers with complete gaming solutions for a variety of cross media platforms, the main focus is on gaming platforms and SMS and interactive TV games of chance, betting and casino games played via mobile hand sets. 09.05.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: MOBILE GAMING SOLUTIONS PLC 1 Carthusian Street EC1M 6DZ London Großbritannien Phone: +44 203 102 8762 Fax: +44 207 250 3559 E-mail: info@mgscorporation.com Internet: www.mobilegamingsolutions.net ISIN: GB00B1QKRY38 WKN: A0MKW8 Listed: Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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