Our island has not been spared by the global COVID-19 pandemic. Our company’s priority is the health and safety of our employees and their families, as well as our customers and partners. Our hearts go out to everyone who has been affected by this public health emergency, whether directly or indirectly.
As you know, the Gamma Family, which includes our Company, has been shaken by the sudden demise of Carl Ah Teck, the late Executive Chairman of Lottotech.
As the newly appointed Executive Chairman, my intention is to continue the legacy left by the late Executive Chairman and to complete the strategic initiatives started under his leadership, while also exploring new business opportunities to grow our Company.
Cohesion and resilience are what defines our strategy in the face of this crisis. The Board and Management are working closely together to implement coordinated measures to mitigate the impact of COVID-19. Though access to our facilities and the draws have temporarily ceased since the announcement of the lockdown, we have a proactive plan to resume our activities. There will be increased vigilance at our premises with focus on hygiene and social distancing. Our operation plan will respond as closely as possible to new market challenges in order to minimize business disruption.
People are encouraged to work remotely and leverage on our digital and IT tools to continue operating the business efficiently. Our team is constantly in contact with our customers and business partners to keep them informed at all times. Strengthening our relationship with our stakeholders has never been as critical as we confront the COVID-19 challenge together.
State of Readiness
We are currently managing our financial position and we believe that our cash position will help us navigate in this difficult time. The company is preparing a course of action for each possible scenario. Contingency measures are being reviewed to prepare the company for the coming months. We shall capitalise on the use of technology to improve safety of our customers and efficient operations. Steps are taken to adjust our business practices and manage our cash flow responsibly.
In the meantime, our Company has stayed true to its main purpose which is helping the community. With the help of NGOs and sister companies, we have been distributing food packs around the island to needy families.
Postponement of AGM
The Directors’ first concern is the security of its employees, shareholders and all other stakeholders involved in the annual general meeting (“AGM”) of the Company. Taking into consideration the health risk associated with public gatherings, the Company’s AGM which was due to be held in June 2020, has been postponed and a further announcement will be made in due course.
As an ending note I wish to thank you for your continued trust and support in our endeavour to keep growing Lottotech.
The Executive Chairman
Mr Tommy Ah Teck