Software providers Nektan go into administration
Nektan are one of the most well-known gaming software providers in the industry, but today may be the end of the road, as they have officially called in administrators and ceased trading on the London Stock Exchange, after failing to secure sufficient funds to continue their business.
Administrators called in
The announcement made on the London Stock Exchange news page stated:
‘Further to its announcement of 31st March 2020, Nektan, the international gaming technology platform and services provider, announces that it has failed to secure the necessary funds for the requisite additional working capital necessary to secure the future of the company. As a result, the Company has commenced the process in the Gibraltar courts to seek to appoint an administrator, whose appointment is expected to be effective later today. The Company has therefore requested that trading on AIM in its ordinary shares be suspended with effect from 7.30am today. A further announcement will be made in due course.’
Nektan software
Nektan have been one of the biggest names in the industry, providing software and gaming solutions to some of the worlds leading games operators. Nektan have focused on mobile gaming solutions and they’ve licensed out their proprietary technology platforms to operators such as Betvictor.
Nektan’s headquarters are based in Gibraltar and are regulated by the Gibraltar Licensing Authority. It is now the job of the Gibraltar courts to appoint administrators for Nektan.
