Feeds

Pirate Bay saviour faces more trouble

Deal hangs on a thread as GGF shareholders mull takeover

Build a business case: developing custom apps

Global Gaming Factory X (GGF) could be delisted from the Swedish stock exchange.

AktieTorget, the Swedish exchange, suspended trading in the company on 21 August. It has now called in a disciplinary committee to consider having GGF's listing removed from the exchange altogether.

The move comes on the same day that GGF is due to meet with its shareholders to decide whether to proceed with acquiring BitTorrent tracker site The Pirate Bay.

The exchange has little faith in a deal being reached, however. AktieTorget officials met with GGF bosses on Wednesday when the firm admitted that it was unable to disclose the amount needed to buy TPB.

"AktieTorget concludes that it [GGF] can not be judged to have the ability to inform the correct, relevant and reliable manner," confirmed the Swedish stock exchange's veep Peter Gönczi in a statement (in Swedish) today.

"If such a capability is missing, there is no scope for an efficient trading."

AktieTorget halted trading in GGF last week after the company failed to provide sufficient details about how it planned to fund its proposed buyout of TPB.

Until the disciplinary committee reaches a decision about the company's fate - which could take several weeks - GGF trading will remain suspended, said Gönczi.

GGF today hit out against accusations that the company's bid to buy TPB was merely a "bluff" to increase its stock price.

CEO Hans Pandeya said (in Swedish) the "allegation" was "completely false," before adding that such claims had severely unsettled GGF's investors.

GGF has courted much controversy since offering to buy TPB for 60m Swedish kronor (£7.7m) in June this year. Later today shareholders in the firm will give the proposed acquisition the kiss of life... or death. ®

Next gen security for virtualised datacentres

More from The Register

next story
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
Linux Foundation says many Linux admins and engineers are certifiable
Floats exam program to help IT employers lock up talent
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.