Neovia Welcomes New Shareholders to Fold (Update 1)

Adds comment from Neovia

Neovia Financial, which traded formerly as Neteller, has on taken two new major shareholders -- one of whom is a well-known Irish billionaire.

Neovia, which now has a total of 119.9 million ordinary shares in issue, reported today that IIU Nominees Ltd., on behalf of Primatur Ltd., has acquired 31.2 million ordinary shares in the Isle of Man-based company, representing 26.03 percent of its issued share capital.

The company received notice of the 20 million euro purchase -- which was made on the open stock market -- on Dec. 12, according to a prepared statement released through the London Stock Exchange Regulatory News Service.

Andrew Gilchrist, vice president of corporate development and communications for Neovia, told IGamingNews via e-mail today that the shares were purchased on the open market.

"In no sense has there been any 'investment' received by Neovia," Mr. Gilchrist said. "He has bought shares which other institutional shareholders have sold to him at various prices at various times."

Primatur Ltd. is wholly owned by Dermot F. Desmond, an Irish entrepreneur who, at age 58, is worth over 2 billion euros. He was ranked 462 on this year's Forbes magazine "World's Billionaires" list.

Mr. Desmond, who owns Betdaq, the Ireland-based betting exchange, was rumored to be stake building in Ladbrokes in July.

Meanwhile, Neovia's second new major shareholder is Cantor Fitzgerald Europe, the London-based arm of the global brokerage firm.

Neovia was notified on Dec. 8 that Cantor had purchased a total of 5.3 million ordinary shares, representing 4.43 percent of the company's issued share capital.