GAIN Capital appoints John Douglas Rhoten as Director

Maria Nikolova

Mr Rhoten was appointed to GAIN’s Board of Directors pursuant to a director appointment right granted to INCAP Gaming B.V.

A new SEC filing by Gain Capital Holdings Inc (NYSE:GCAP) makes it clear that the online trading major has made some changes among its top ranks.

According to the SEC filing, on October 7, 2019, the Board of Directors of GAIN Capital Holdings, Inc. appointed John Douglas Rhoten to serve as a Class II Director of the company.

Mr Rhoten was appointed to GAIN’s Board of Directors pursuant to a director appointment right granted to INCAP Gaming B.V., an affiliate of IPGL Ltd., in a Stockholders’ Agreement dated as of October 31, 2014, which was entered into by GAIN in connection with its acquisition of City Index (Holdings) Limited.

As reported in a Form 4 filed with the SEC on March 27, 2018, IPGL is the beneficial owner of 953,031 shares of GAIN’s common stock, and its affiliate, Fox & Trot Ltd., is the beneficial owner of 4,629,950 shares of GAIN’s common stock. Fox & Trot Ltd also holds substantially all of GAIN’s Convertible Senior Notes due 2020, of which $60 million in principal amount were issued in connection with GAIN’s acquisition of City Index.

Speaking of changes among the top ranks of GAIN, let’s recall that, in August this year, the company announced that Samantha Roady would be stepping down from her role as President of the Retail business, effective September 30, 2019. GAIN said back then that Ms Roady is set to pursue other interests outside the leveraged trading industry. Following Ms. Roady’s departure, Glenn Stevens, CEO of GAIN, assumed direct responsibility for the company’s global Retail business.

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