Woodford Eurasia Assets Ltd. accused Sports Entertainment Gaming Global Corporation (SEGG) of a deep corporate crisis. This follows the release of SEGG’s delayed 2025 10-K filing.
Woodford alleges the filing reveals 1,145% shareholder dilution. This dilution occurred over a period of approximately 18 months.
The creditor also claims the filing shows unexplained borrowing. The dispute stems from a prior loan agreement that restricted financing activities without Woodford’s consent.
SEGG’s filing acknowledges the agreement and an ongoing arbitration claim before the London Court of International Arbitration (LCIA). Woodford states the 10-K lacks evidence of consent for the increased borrowing and share issuances.