NETELLER Promises Funds Resolution Within Days
By staff
NETELLER Plc, the independent global online payments business, has issued an official statement declaring that the company is using its best efforts to resolve its investigation by the United States Attorney's Office for the Southern District of New York (USAO).

The company stated that it had advised the USAO that the investigation would be resolved on or soon after 13 July 2007. The company believes that it is making significant progress towards achieving a resolution and hopes to be able to announce this within a number of days.

4 June 2007, saw the company agree plans for the distribution of funds to its US customers, which will come into force upon the resolution of the investigation. The plan details the process and mechanisms by which US customers will be able to initiate the return of their funds after the plan is implemented.

Shares in the company will remain suspended until the investigation is resolved and the company’s audited annual accounts for 2006 are finalised and published.

The NETELLER board has also accepted the resignation of Gord Herman as Executive Chairman and Director of the company. Mr Herman has indicated that he wishes to concentrate on personal matters. Dale Johnson, non-executive director, will assume the role of non-executive Chairman. Both of these changes will take place with immediate effect.

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