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Nexia BT confirm investment in Streamcast, deny cashing out

Maltese company, Capital Knight Ltd, subscribed for shares in Streamcast’s Irish holding company. The Maltese company is owned by Nexia BT partners Brian Tonna, Karl Cini, Manuel Castagna and Oliver Said.

Editorial note: Nexia BT has sent us this statement as a Right of Reply. We are publishing this statement as received, according to law. Publication does not imply that we are in agreement with the statements made. The Shift will be addressing these statements (see here).

“We make reference to the article posted by The Shift on 12 January 2020 titled ‘Nexia BT’s Brian Tonna and Karl Cini cashed in on taxpayer-funded scam’. The article is misleading and erroneous on a number of fronts.

Firstly, Nexia BT and the shareholders of Capital Knight Limited deny ever receiving any funds directly or indirectly from the sale of any Streamcast company as insinuated in the article.

Secondly, Streamcast Technologies Holdings Limited never acquired any shares in the Malta-based Streamcast Group and never had any participation in the investment made in Malta as can be easily verified by an online search of the ownership of the Streamcast group companies on the website of the Malta Business Registry as highlighted below.

Further, the article is also erroneous with regard to the acquisition made by IRIS Mediaworks. A proper analysis, as provided below, will show that neither any of the Malta-based companies nor Streamcast Technologies Holdings Limited (Ireland) were acquired as can be clearly seen in press releases.

Finally, the article is also incorrect in stating that Rolta India acquired other parts of the Streamcast Group, when in fact it was Streamcast Group which indeed acquired part of Rolta India as highlighted below.

Nexia BT and Capital Knight Limited reserve all their rights and remedies at law in connection with the content of this article.”

Read The Shift’s response here.

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