Richard Poulden talks about the protracted legal dispute with the former CEO and tribunal, what effect it had on the company and what the future holds.
PCG Entertainment has been in discussions for some time now with the Chines gaming company, there could be something fundamentally strong on the horizon? Richard says he believes so.
The former CEO of the Company, who had been in charge throughout the period of the CPDC ownership, had brought an employment Tribunal claim against the Company following his dismissal in March 2017. In the end the settlement reached in January this year was US$286,350. The payment was less than we had provided for in last year’s accounts and so there is a satisfying write back of US$140,313 in this year’s numbers.
Comment – Chairman Richard Poulden
“The last year has been a frustrating one for PCGE, for the Board and the shareholders alike. A combination of external influences and unforeseen delays have left the Company in a holding pattern from which, I am pleased to say we are now able to move forward. These factors, lost and still possible deals are outlined above. The Board and I know that there have been many calls for updates over recent months, we therefore look forward to reporting further good news in the coming months.
Thank you all for those who have stuck with us, and the Board would like to thank particularly those shareholders and supporters who have understood the unforeseen delays but maintain the bigger vision we have for the Company. Our aim is to ensure a strong return to form and on investment for all. This next year should see less of these challenges and more opportunities to move forward strongly with interesting deals.”
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