Feeds

Pirate Bay saviour faces more trouble

Deal hangs on a thread as GGF shareholders mull takeover

Beginner's guide to SSL certificates

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. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.