Carley and Others at Starnet Resign

28 December 1999
Starnet CEO and Chairman Meldon Ellis has been nominated as chairman-elect for the company's board of directors following resignations of several board members. Tendering their resignations were Jack Carley, chairman of the board, director and chief financial officer for Starnet. C. Frank Schoop and Gary Robert Lechte, both board of director members, also resigned.

Carley will continue as president of EFS Caribbean Inc., Starnet's e-cash processing subsidiary, and as a member of Starnet's advisory board.

Schoop and Lechte both cited potential conflict between Starnet's business and their own business interests due to the regulatory issues surrounding Internet gaming.

"We are disappointed to lose Mr. Schoop and Mr. Lechte from our board, but respect and understand the reasons for their decision," Ellis said. He added, "We thank Jack Carley for his long-standing contributions to Starnet, and take great comfort from the fact that he will remain as a major contributor to our development and success as president of EFS."

Ellis' nomination as chairman of the board of directors is subject to approval following a shareholders' vote at the annual general meeting scheduled for March 2000.