NetPlay TV (AIM: NPT) has added Safe Charge International Ltd to its approved list of payment services providers and risk management solutions. The agreement is non-exclusive and does not stipulate a minimum or maximum level of transactions that need to be conducted through Safe Charge.
The deal is considered to be a related party transaction under AIM rules as NetPlays largest shareholder Directforce Trading Ltd, with a 29.7% stake, also has a beneficial interest in Safe Charge also has a beneficial interest in NetPlay TV through Directforce Trading Ltd.
Netplay TV, having consulted with its Nominated Adviser, consider the terms of the agreement to be fair and reasonable, in respect of the company's shareholders.
The company operates a number of interactive gaming services under a UK, Malta and Alderney gaming license, including SuperCasino.com, ChallengeJackpot.com and Bingos.com.
Recently, through the revision of an existing arrangement with Virgin Media, NetPlay took full control of the Challenge Jackpot business, marking another step towards its goal of becoming the UK's leading broadcaster of gaming experiences.
The original deal between NetPlay and Virgin was agreed in April 2009. NetPlay took control of the production of the TV channel and website. The Challenge Jackpot channel is a continuous interactive gaming channel, the channel airs 24 hours a day on the Virgin cable-TV network and on SKYs (LSE: BSY) satellite TV network. The Challenge Jackpot database generated 2.9m of gross gaming margin from 12 May 2009 to 31 December 2009.
http://www.proactiveinvestors.com.au/companies/news/6317/netplay-tv-adds-safe-charges-payment-services-to-its-approved-list-6317.html
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