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Monday, June 6, 2016

PCG Entertainment (LON:PCGE) confident of swift resolution on debt issues: ProactiveInvestors Stocktube

Published on 6 Jun 2016
Nick Bryant, chief executive of PCG Entertainment PLC (LON:PCGE), says he doesn’t think the on-going debt disputes will be a major problem for the company.

A supplier to CDPC, its gaming software and games distributor, is pursuing PCG for an unpaid debt of US$2.1mln from before PCG bought the company, and Bryant says it had a written agreement that relieved it of any obligations in connection with the debt.

In addition, CDPC is being withheld US$1.2mln in a separate dispute with a major customer, but Bryant says the firm is “very well covered on this”.

He adds Proactive Investors: “We remain confident that both issues will be resolved within the very near future”.

Despite the debt issues, Bryant remains focused on the company’s expansion in China, noting “we still think there are tremendous opportunities out there and we are going to pursue them with as much determination as we can”.

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