Popular television personality claims he has reached a verbal agreement entitling him to 3.4 million shares now worth NOK10 million
Popular Norwegian TV presenter Hallvard Flatland says he is entitled to 3.4 million stocks in online gaming group Gaming Innovation Group (GIG) below a verbal arrangement with business officials back in 2015. The business has been sued by the television host and the two parties met from the Bergen District Court this past Wednesday, neighborhood information outlets report.
Mr. Flatland has worked for Norway’s first commercial television station, TVNorge, in addition to for the Norwegian Broadcasting Corporation. He is best known as the founder and sponsor of the country ’s most popular gameshow, Casino, that aired between 1989 and 1993 and then briefly from 2003 to 2004. Mr. Flatland is also an avid gambler.
According to court filing, the TV presenter believes he is entitled to 3.4 million GIG shares, which are currently valued at around NOK10 million. Mr. Flatland has informed court which back in the spring of 2015, he reached a verbal agreement with former Nio Inc.. Chief Executive and investor Kjetil Myrlid Aasen to receive shares in the gaming group as part of a collaboration that would have seen the TV host turned into a GIG ambassador. Nio, a gaming company itself, had just secured the purchase of GIG at the time.
Offer or No Deal
Providing further details about the arrangement, Mr. Flatland has said that it had been attained on April 30, 2015 at Bergen. The involved parties didn’t sign some documents to officialize the deal, however, the TV presenter has pointed out that he was guaranteed a bargain was reached. A new CEO was appointed to direct the combined entity, when the Nio/GIG deal was finished. Mr. Flatland contacted the recently appointed executive shortly after and asked for extra details on the agreement’s implementation. On the other hand, the TV presenter was told that there would not be a collaboration and that there wasn’t any agreement reached.
Mr. Aasen said in court that there was no arrangement of any sort, but confessed that he was approached by Mr. Flatland and that the latter requested to talk with GIG management about possible collaboration.
He explained that they were doubtful about the success of potential collaboration with Mr. Flatland. Mr. Nilsen further pointed out that the company did not have a lot of money at the time and was not certain how its partnership with the TV presenter would benefit it.
On the flip side, Mr. Flatland said that within his arrangement with GIG, he bought one million stocks from the enterprise to show his faith in its future. Mr. Aasen said yesterday in court that the purchase price of shares was part of the capitalization of the gaming group and had nothing to do with the alleged arrangement.
Gambling Innovation Group is headquartered in Malta, however, works offices in Oslo, Gibraltar, and Copenhagen, Amongst Others. Its actions include the provision of the B2B and B2C online gaming products.
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