Statement by Dr David Levy, Chairman of Retro Computers Limited 13/4/17

The information on which The Register article is based is out of date. Paul Andrews, as Managing Director, was responsible for signing the original agreements with rights owners, but since his resignation on April 8th 2016 a number of our company's contracts and commercial arrangements have been changed.

The article also quotes a contract that is non standard.

Since then the present directors have spent a considerable amount of time and money attempting to recover a very substantial amount in sales revenues which were diverted away from the company during Mr Andrews's watch. Those sales revenues were diverted by the company's former sales agent, Cornerstone Media International Ltd (now in liquidation) and its sole director and shareholder Nicholas Cooper who is a long-time friend of Mr Andrews. The diversion of those revenues took place outside the scope of Cornerstone's contract with Retro Computers Ltd, but Mr Andrews, with some support from Christopher Smith, has consistently and repeatedly supported Mr Cooper in his attempts to avoid paying all of the diverted money to Retro Computers Ltd and to curtail the legal action by which Retro Computers Ltd has been attempting to recover those revenues.

The current directors of Retro Computers Ltd still do not know how many units of the Vega were sold by Mr Cooper and Cornerstone,. Since royalties are paid on money actually received by Retro Computers Ltd the actions of Mr Cooper and Mr Andrews have deprived the games rights owners and the GOSH charity of what should be their respective shares of the royalties. The investigation and legal action to recover those revenues is still ongoing.

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Retro Computers Ltd
10-14 Accommodation Road
London
NW11 8ED
Company Registration Number 08831435 Registered in England & Wales

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