Bragg Gaming Group has seen its Audit Committee undergo changes to address a non-compliance issue flagged by the Nasdaq Stock Exchange
Bragg Gaming Group has seen its Audit Committee undergo changes to destination a non-compliance government issue flagged past the Nasdaq Stock Exchange.
Alex Spiro has replaced Rob Godfrey on Bragg’s three-person Audit Committee after the latter was forced to stair downward due to a run afoul of interest.
The Nasdaq’s rules require III independent directors help on the Audit Committee, but Rob Godfrey’s independency was brought into question. His father, Saint Paul Godfrey, was named Interim CEO in conclusion November, causation Rob Godfrey to no longer run across the Nasdaq’s criteria for independence.
Bragg was quick to come up to this issue, appointing Spiro to assist on the Audit Committee in Rob Godfrey’s stead, who resigned from the panel.
“Bragg received observation from the Nasdaq Stock Exchange notifying it that prior to the above noted changes inwards the paper of the Audit Committee, the companion was non inward compliance with Nasdaq’s Listing Rule 5810(b) which requires that in that respect must live deuce-ace independent directors serving on the Audit Committee,” stated Bragg.
“The non-compliance was the result of Alice Paul Godfrey being prescribed Interim Chief Executive Officer on 15 Nov 2021 which caused Rob Godfrey to no thirster be main(a) due to a family line relationship.”
As a result of these recent changes, Bragg’s Audit Committee now comprises the previously mentioned Spiro, as comfortably as Holly Gagnon and Saul of Tarsus Pathak, who serves as Chair.
“Each of these trine members of the Audit Committee encounter the criteria for manager independency localize forth inwards Rule 10A-3(b)(1) below the Securities Exchange Act of 1934,” added Bragg.