A number of changes have been made to the CryptoLogic management team by Amaya Gaming group.
Following its acquisition of 80.79 per cent of the issued share capital of CryptoLogic, Amaya has announced changes to the management and to the board of directors of CryptoLogic and CryptoLogic Exchange Corporation (CEC).
David Gavagan has stepped down as chairman and interim CEO of CryptoLogic. David Baazov, currently president, CEO, secretary, treasurer and director of Amaya, will assume the role of CEO of CryptoLogic.
Huw Spiers has stepped down as group head of operations and CFO of CryptoLogic. Daniel Sebag, currently CFO and director of Amaya, will assume the role of CFO of CryptoLogic.
CryptoLogic also announced that Simon Creedy Smith and James Wallace have offered their resignations to the board of directors. These have been accepted with immediate effect. The remaining two non-executive directors, Thomas Byrne and David Gavagan, will continue as members of the board of directors. Two additional directors, David Baazov, as an executive director, and Divyesh Gadhia, as a non-executive director, have been named as new directors of CryptoLogic.
CEC announced that David Gavagan, Huw Spiers and Nick Catros have offered their resignations to the board of directors.
These have been accepted with immediate effect. David Baazov, Daniel Sebag and Divyesh Gadhia have been named as new directors of CEC. Divyesh Gadhia is currently a director of Amaya.
In addition, Amaya has requested that CryptoLogic submits applications to the authorities for the delisting of its shares on the London Stock Exchange, NASDAQ and the Toronto Stock Exchange. The cancellation of listing and admission to trading is expected to take effect no earlier than 8am on May 3.
