LETS GOWEX SA (GOW) Files For Bankruptcy, CEO Quits

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LETS GOWEX SA (GOW) Files For Bankruptcy, CEO Quits

In a highly unexpected development LETS GOWEX SA (OTCMKTS:LGWXY) (BME:GOW)’s CEO has resigned from the company today, and the company has also announced that it is declaring voluntary insolvency. The news comes only days after Gotham Research issued a highly negative report regarding the Spanish company, and called the stock worthless. As of late last week, the company was denying the charges in press releases and statements sent to ValueWalk, as the stock tanked after the Gotham Report. The bankrputcy news was first reported early today by a Spanish publication, Boursorama. Below is the announcement regarding the CEO resignation and the bankruptcy via the 

RELEVANT FACT – LETS GOWEX SA (OTCMKTS:LGWXY) (BME:GOW)

LETS GOWEX SA LGWXY GOW

The Board of Directors of the Company announces that on July 5 2014, at 16’00, at the Company’s offices, Mr. Jenaro García Martin, Chief Executive Officer and President of the Board, has declared in the presence of different Board Members that the financial accounts of the Company for the last four years, at least, do not show a full and fair view of the Company’s situation, taking responsibility for this falsity.