HARRISON, N.Y., July 1, 2014 /PRNewswire/ -- MGT Capital
Investments, Inc. (NYSE MKT: MGT) (the "Company") today
confirmed receipt of a notice from Iroquois Master Fund Ltd.
("Iroquois"), announcing its intention to nominate a slate of four
directors to stand for election at the Company's 2014 Annual
Meeting of Stockholders.
The Company noted that it is committed to creating value for all
stockholders. The Nominating Committee of the Company's Board of
Directors will review the accuracy of the notice received from
Iroquois and consider the Iroquois nominations, as well as
qualified individuals who may be submitted by other of the
Company's stockholders to serve on the Company's Board.
The Company will present its recommendation with regard to the
election of directors in its proxy statement to be filed with the
Securities and Exchange Commission (the "SEC"). The Board will make
a recommendation in the best interests of all stockholders. The
date of the Company's 2014 Annual Meeting of Stockholders has not
yet been announced. The Company's stockholders are not required to
take any action with respect to Iroquois' director nominees at this
time.
About MGT Capital Investments, Inc.
MGT Capital and its subsidiaries operate social and real money
gaming sites online and in the mobile space, including ownership of
the 4th largest daily fantasy sports wagering platform,
www.DraftDay.com. The Company also offers games of skill
through www.MGTplay.com and social casino games
with SlotChamp™, and is building an online portal for
fantasy sports news and commentary, www.FantasySportsLive.com. In
addition, the Company owns intellectual property relating to slot
machines and has asserted its claims via patent infringement
lawsuits.
Important Additional Information
This release may be deemed to be solicitation material in
respect of a proxy contest for the election of directors to the
Board of Directors of the Company. The Company will be filing a
proxy statement with the SEC. STOCKHOLDERS ARE URGED TO
READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR
THAT WILL BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders will be
able to receive the proxy statement and other relevant documents
free of charge at the SEC's website at www.sec.gov, or upon written
request to the Secretary of MGT Capital Investments, Inc. at 500
Mamaroneck Avenue, Suite 204, Harrison,
NY 10528.
Participants in Solicitation
The Company and its directors and executive officers and other
members of management and employees may be deemed to be
participants in the solicitation of proxies in respect of a proxy
contest for the election of directors to the Board of Directors of
the Company. Information concerning these participants is set forth
in the proxy statement, dated August 9,
2013, relating to the Company's 2013 Annual Meeting of
Stockholders as filed with the SEC on Schedule 14A and the
Company's 2013 Annual Report on Form 10-K, as filed with the SEC on
March 28, 2014. Additional
information regarding the interests of participants in the
solicitation of proxies in respect of the 2014 Annual Meeting of
Stockholders and other relevant materials, including the Company's
proxy statement, will be filed with the SEC when they become
available.
Forward-looking Statements
This press release contains forward-looking statements. The
words or phrases "would be," "will allow," "intends to," "will
likely result," "are expected to," "will continue," "is
anticipated," "estimate," "project," or similar expressions are
intended to identify "forward-looking statements." The
Company's financial and operational results reflected above should
not be construed by any means as representative of the current or
future value of its common stock. All information set forth in this
news release, except historical and factual information, represents
forward-looking statements. This includes all statements about the
Company's plans, beliefs, estimates and expectations. These
statements are based on current estimates and projections, which
involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. These risks and uncertainties include issues related
to: rapidly changing technology and evolving standards in the
industries in which the Company and its subsidiaries operate; the
ability to obtain sufficient funding to continue operations,
maintain adequate cash flow, profitably exploit new business,
license and sign new agreements; the unpredictable nature of
consumer preferences; and other factors set forth in the Company's
most recently filed annual report and registration statement.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's analysis
only as of the date hereof. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof. Readers should
carefully review the risks and uncertainties described in other
documents that the Company files from time to time with the
SEC.
Photo -
http://photos.prnewswire.com/prnh/20130409/NY91046LOGO
SOURCE MGT Capital Investments, Inc.