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BETonSPORTS
Responds to Media Reports
Press
Release
LONDON,
England -- BETonSPORTS plc., having noted the recent media
reports from various outlets in both the UK and the U.S. wishes
to make the following statement:
BetonSports
plc (referred to as the Company) acquired the various businesses
comprised in the group immediately prior to its float in July
2004. Other than David Carruthers the Board of directors, both
executive and non-executive directors, was appointed at or subsequent
to the float and are not named in the indictment.
Since the
time of its public listing, the Board believes the Company has
operated in accordance with the standard expected of a U.K.
Plc which is publicly quoted on AIM on the London Stock Exchange.
The Board wish to make absolutely clear that none of the founders
of the original business has any continuing role within the
Company. As disclosed in the AIM document, the original founder
has a consulting agreement with the Company under which his
role is non-management related which was an absolute requirement
of the Board for the float and thereafter.
Some media
reports have focused on alleged improper activity occurring
at the group's Costa Rican business premises during VIP parties
and other events. All these allegations relate to the time prior
to the acquisition of the business by the Company and its July
2004 float.
The Board
wants to assure the investment community, employees, and customers
of the Company that they, in consultation with the Company's
attorneys, are evaluating all of the Company's options and deciding
what steps will be taken next. Once a decision is made in this
regard a further statement will be released. The Company wishes
to express its appreciation to its employees, customers, investors
and partners for their patience and support during this process
and will issue further information as soon as possible.
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