At work this evening some kid came in all in a panic about how neteller was going to slam the doors on us( poker players)..He said it was over at 2+2 forums.
Anyway i came home and went directly to neteller and found this...
It seems they may be positioning themselves for the possibility that things may change from "business as usual"
__________________________________________________ _____
For immediate release NETELLER
Press release
2 October 2006
US CONGRESS PASSES SAFE PORT ACT
NETELLER Plc (LSE:NLR), a leading online money transfer service provider, notes the
recent action early on Saturday 30 September by US Congress to pass HR 4954, the Safe Port
Act (the “Act”) which includes certain provisions to prohibit unlawful internet gambling
through the restriction of payments to such sites.
The Act further states that there will be a period of up to 270 days beginning on the date of
the enactment for a board including the US Federal Reserve and the US Attorney General to
prescribe regulations requiring each designated payment system and all participants therein to
identify and block or otherwise prevent or prohibit restricted transactions.
The Company, in conjunction with its advisers, is considering the potential impact of the Act
at this time. The Board believes that the Act may have a material adverse effect on
NETELLER’s US facing business. Once the Company has more information about what the regulations will stipulate, it will have a clearer view of which companies are affected, how those companies will be expected to comply, and any possible resulting impact on the Company. In the meantime, the Company will continue to monitor the progress of this
legislation and to energetically plan and adapt NETELLER’s business to minimise any potential adverse impact. The Company will remain focused on developing its business in line with its stated strategic objectives including geographical and product diversification.
The Company’s next trading update for the third quarter will be issued towards the end of October 2006. In the meantime, the Company will endeavour to keep shareholders informed of any material developments.
Enquiries:
NETELLER Plc
Andrew Gilchrist, Vice President - Communications +44 (0) 1293 555 726
Citigate Dewe Rogerson +44 (0) 207 638 9571
Sarah Gestetner/Seb Hoyle/George Cazenove
Notes to Editors
The NETELLER Group
With over 3 million customers in 160 countries and more than $7 billion in annual transactions, the NETELLER Group operates the largest independent online money transfer business in the world. The Group specializes in
providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed the Group to support over 3,500 retailers and merchants in many geographies and across multiple industries.
The Group is one of the largest companies quoted on the London Stock Exchange’s AIM market, with a ticker symbol of NLR. NETELLER UK Limited is authorised by the Financial Services Authority (FSA) to operate as a
regulated e-money issuer. For more information about the Group visit
www.netellerplc.com.
Business as usual say Neteller
Linear Mode
