{"id":259,"date":"2024-06-27T06:19:53","date_gmt":"2024-06-27T03:19:53","guid":{"rendered":"https:\/\/cryptoleopromocode.icu\/2024\/06\/27\/betindex-to-relaunch-as-customer-owned-platform\/"},"modified":"2024-06-27T06:19:53","modified_gmt":"2024-06-27T03:19:53","slug":"betindex-to-relaunch-as-customer-owned-platform","status":"publish","type":"post","link":"https:\/\/cryptoleopromocode.icu\/2024\/06\/27\/betindex-to-relaunch-as-customer-owned-platform\/","title":{"rendered":"BetIndex to Relaunch as Customer-Owned Platform"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/h_oe-00RmBs\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>BetIndex, the operator of the football stock market BetIndex, has comprehensive plans to relaunch the platform, granting customers ownership of the enterprise, prior to a High Court hearing scheduled for today.<\/p>\n<p>The specifics were disclosed in documents circulated before today&#8217;s High Court hearing, which will decide how funds from a \u00a34.5 million player protection account will be dispersed.<\/p>\n<p>Under the proposed Company Voluntary Arrangement (CVA), a customer trust will be assigned 50% of the equity in BetIndex to existing customers who maintained active BetIndex portfolios when the company entered administration.<\/p>\n<p>Administrators assert that this is feasible because &#8220;the fundamental business model is appealing to customers and financially viable&#8221;.<\/p>\n<p>Shareholders of Index Labs Ltd &#8211; the proprietor of BetIndex &#8211; will be required to vote to surrender control of the company if they are to achieve a CVA with customers.<\/p>\n<p>An investment trust will retain the remaining 50% of BetIndex&#8217;s equity to attract external investors. These investors could establish an exit route for individuals holding shares in the customer trust, as customers might be able to sell their shares to investors. <\/p>\n<p>Every patron possesses the right to become a company associate, granting them the authority to cast ballots for board representatives.<\/p>\n<p>To ensure stability, it is advisable to utilize a format resembling the prior original title, though the operator indicates that certain modifications will contribute to its financial sustainability.<\/p>\n<p>The operator might not acquire a remote wagering permit, but will obtain a pool betting permit, deemed the &#8220;most logical&#8221; approach to continuation.<\/p>\n<p>A \u00a37 million archive stock pool will be established to sustain dividend payments, although these dividends will be suspended for a half-year period. All archived stocks will expire after a period of three years.<\/p>\n<p>Executives stated, &#8220;The board is confident that there is a substantial likelihood that the operator will be re-licensed.&#8221;<\/p>\n<p>When inquired about the possibility of issuing a fresh license to the football index, a spokesperson for the Gambling Commission responded: &#8220;We will refrain from discussing any potential license applications or applications that have been submitted.<\/p>\n<p>&#8220;Prior to granting a license, we will conduct a comprehensive review of the business model of any license application.&#8221;<\/p>\n<p>The operator anticipates that players will receive approximately 20.5 pence for every pound owed following relaunch.<\/p>\n<p>The initial closing statement issued subsequent to the BetIndex company&#8217;s insolvency mentioned plans for a potential future reorganization. <\/p>\n<p>The firm has declared they are collaborating with insolvency specialists Begbies Traynor to revamp the platform. They are aiming to achieve a consensus with interested parties, particularly their user base, to maintain operations in a revised format. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>BetIndex, the operator of the football stock market BetIndex, has comprehensive plans to relaunch the platform, granting customers ownership of the enterprise, prior to a High Court hearing scheduled for today. The specifics were disclosed in documents circulated before today&#8217;s High Court hearing, which will decide how funds from a \u00a34.5 million player protection account [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BetIndex Relaunches: Customers Get Ownership!<\/title>\n<meta name=\"description\" content=\"BetIndex is relaunching with a revolutionary twist: customers get ownership! 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