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| 8-K - ELECTRONIC GAME CARD INC | v165134_8k.htm |
Electronic
Game Card, Inc. Mourns the Passing of its Executive Chairman, The Lord Leonard
Steinberg
CEO
Kevin Donovan and Board Member Eugene Christiansen to serve as Interim Office of
the Chairman and commit Board to forwarding The Lord Steinberg’s vision for the
future
NEW YORK, NY/LONDON, ENGLAND -
November 3, 2009- Electronic Game Card, Inc. (OTCBB: EGMI) ("EGC"),
announced today with great sadness that the Company’s Executive Chairman,
Leonard Steinberg, Baron Steinberg of Belfast, died suddenly of a heart
attack November 2, 2009 on his 73rd
birthday in London, England.
Lord
Steinberg was one of Britain's most successful businessmen and one of the most
well known personalities in the gaming industry. He founded Stanley Leisure in
Belfast in 1958 with one licensed betting shop. Stanley Leisure plc became the
largest casino operator and fourth largest retail bookmaker with 600 shops in
the United Kingdom.
In 2005
Stanley Leisure’s retail bookmaking operations were sold for £504 million
(approximately $1 billion) and returned £327 million (approximately $650
million) to shareholders. In 2006, Stanley Leisure then sold the 45 casinos to
Genting International for approximately $1.3 billion.
In
addition to his highly successful business career, Lord Steinberg was made a
Conservative Life Peer in 2004 and was an active member of the House of Lords in
the United Kingdom. He was a well known philanthropist as Founder and Chairman
of the Steinberg Family Charitable Trust and had recently attended the launch of
the Northern Ireland Friends of Israel as President in March 2009.
"This
news has come as a shock to all of us. We are deeply saddened. The
Steinberg family is in the midst of its mourning period. The
company is convening its Board of Directors to take appropriate actions in
light of this unfortunate and untimely development."
"Leonard's
passing gives me much pain and sadness and a tremendous sense of loss for his
family, many friends and colleagues. All who knew Leonard greatly admired his
wisdom, support and personal approach to relationships. Words cannot describe
how much we all respected Leonard and appreciated the opportunity to work
closely with him," commented Kevin Donovan, interim Co-Chairman and CEO of
Electronic Game Card, Inc. "While we are all deeply saddened with his
passing, management, the Board and company consultants will continue to work
hard to take this company to the next level, and are accelerating our commitment
to growth to honor this great man and the faith he had in us and the
future of the company.”
For More
Information Contact:
Yvonne
L. Zappulla
Managing
Director
Grannus
Financial Advisors, Inc.
Call
212-681-4108
e-mail:
yvonne@grannusfinancial.com
or
Kevin
Donovan
Chief
Executive Officer
Electronic
Game Card, Inc.
Call
866-924-2924
e-mail:
investor.relations@electronicgamecard.com
About Electronic Game Card,
Inc.
Electronic
Game Card, Inc., (OTC Bulletin Board: EGMI
- News),
develops, produces and markets innovative games to the casinos and lottery, toys
and games, education, and promotional industry worldwide. The Company's lead
product is the EGC Electronic GameCard(TM), a unique credit card-sized pocket
game combining patent and patent-pending proprietary technology of interactive
capability with "instant win" excitement. The "EGC Electronic GameCard(TM)" can
be programmed to suit a variety of gaming and promotion
applications.
EGMI's
client base is across the $100 billion global market of, sales promotion, gaming
and casinos, Indian gaming and state and national lotteries markets. EGMI
develops sales and marketing relationships with agents and distributors globally
and currently has agents and distributors in North America, United Kingdom,
Ireland, South Korea, Mexico, Italy, Sweden, Norway, Denmark, Finland, South
Africa Australia, New Zealand and Japan.
For
further information please visit www.electronicgamecard.com.
Certain
statements in this news release may constitute “forward-looking” statements
within the meaning of section 21E of the Securities and Exchange Act of
1934. The Company believes that its expectations, as expressed in
these statements are based on reasonable assumptions regarding the risks and
uncertainties inherent in achieving those expectations. These
statements are not, however, guarantees of future performance and actual results
may differ materially. Risk factors are listed in the most recent
Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB filed with the
Securities and Exchange Commission.