GPIC
Appoints Board Member
Gaming Partners International
Corporation announced today that it received
a letter from the Listing Qualifications Department
of the Nasdaq Stock Market, Inc., or Nasdaq,
indicating that, as a result of a vacancy caused
by the recent death of Jerry G. West on Feb.
2, 2006, we did not meet the audit committee
composition requirements set forth in Marketplace
Rule 4350(d)(2) (the "Rule"). Consistent
with the Rule, we have a cure period until the
earlier of our next annual stockholders meeting
or Feb. 2, 2007, to regain compliance. The Nasdaq
letter further stated that in the event we do
not regain compliance within this period, our
securities would be subject to delisting.
On
Feb. 15, 2006, we responded to the Nasdaq deficiency
letter informing Nasdaq that our board of directors
appointed Robert J. Kelly to fill the vacancy
on the board of directors and audit committee,
subject to gaming regulatory approval.
Mr.
Kelly, age 50, received an MBA from Harvard
in 1986 and an Engineering degree from Princeton
in 1977. Since 2000, Mr. Kelly has been the
founder, patent holder and primary stockholder
of EarthSource Inc., Raynham, Massachusetts,
a waste water treatment plant. He is also a
civil engineer and responsible for designing
the EarthSource process and managing its operations.
From approximately 1994 to 2000, Mr. Kelly worked
with LFR, Inc., an environmental engineering
company and affiliate of Holding Wilson, S.A.,
our principal stockholder.
Prior
to 1994, Mr. Kelly worked as a Division Manager
for OHM Corporation, a publicly-traded company
that provides technology-based, on-site hazardous
waste remediation environmental services, and
as a Field Service Manager at IT Corporation,
a publicly-traded company in the environmental
engineering business, providing environmental
consulting, engineering and construction and
remediation services.
Based
on the information in our letter regarding the
appointment of Mr. Kelly to our audit committee,
Nasdaq has indicated in a letter to us dated
Feb. 16, 2006, that we have remedied our noncompliance
with the audit committee composition requirements
of the Rule and the matter is now closed.
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