06-12-2007 Betex breaks months of silence to ask shareholders for more funds

The troubled lottery and soccer betting operator said that despite its recent difficulties, core investments are performing well and the company intends to explore a return to the market in 2008.

Chairman Johnny Hon stated in a letter to Betex shareholders: "Whilst we have wanted to inform you of developments on a regular basis, we have not done so for two key reasons. Firstly, on professional advice we have not wanted inadvertently to publish any statement that may affect or implicate the company in the legal enquiry in China. Secondly, and more significantly from a shareholder perspective, we have not wanted to jeopardise our China licences and core investments by making statements that may be misinterpreted by Chinese officials and partners."