Attached files
| file | filename |
|---|---|
| 8-K - MGT CAPITAL INVESTMENTS, INC. | v211012_8-k.htm |
For
further information:
MGT
Capital Investments
Robert
Ladd
Tel:
212-652-3214
rladd@mgtci.com
www.mgtci.com
MGT
Announces Strategic Review and Board Changes
NEW YORK, February 10, 2011 –
MGT Capital Investments, Inc. (AMEX: MGT), (“MGT”), announced today that Allan
Rowley has resigned as Chief Executive Officer and as a Director of
MGT. Richard Cohen, Esq. has joined the Company as an independent
Director to replace Mr. Rowley. In addition, Robert Ladd, presently a
Director of the Company, has been appointed by the Board to the position of
Interim CEO pending an executive search.
“We are
pleased that Richard has agreed to join the Board of MGT,” stated Peter Venton,
Chairman of the Board of MGT. “Richard is not only a highly respected
lawyer and President of the law firm Lowey Dannenberg, but also has excellent
judgment and is an expert in the area of corporate governance.”
Mr.
Venton continued, “We would also like to take this opportunity to thank Allan
for his contributions to the Company over the past five
years.” Robert Ladd added, “I am happy to step in as Allan devotes
his full-time efforts to MGT’s majority-owned subsidiary Medicsight PLC (London
AIM: MDST). MDST is anticipating an exciting period in the
development and marketing of its computer-aided detection platform for use in
the CT Colonography market post regulatory approval in the US and
Japan.”
As an
additional action, the Board of MGT has decided to explore all alternatives with
respect to maximizing the value of its holdings of Medicsight PLC, including,
but not limited to, the previous decision of a pro-rata dividend to MGT
stockholders. “It is the view of the Board of MGT, that the current
public trading price of Medicsight does not reflect the potential value of the
intellectual property portfolio and balance sheet,” concluded Peter
Venton.
All
forward-looking statements are made pursuant to the 'safe harbor' provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
are based on current management expectations that involve risks and
uncertainties that may result in such expectations not being realized. Potential
risks and uncertainties include, but are not limited to, the risks described in
company filings with the Securities and Exchange Commission.
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