DJ Hyun

DerbyWheel’s UK company now under full Korean control

The distancing of former CEO James Pope from DerbyWheel’s UK corporate entity, DerbyWheel Player Ltd has continued, with additional registration changes today.

Global Keirin reported earlier this week that the company’s formal address had been moved to a City of London office block, having previously been an address associated directly with Pope himself.

The company has now notified the official UK government registrar that Pope’s personal company, Koru Sports Group is no longer a ‘person with significant control’.

And having previously held ‘more than 25% but not more than 50%’ of shares and voting rights in DerbyWheel Player Ltd, Koru Sports Group’s holding appears to have transferred to DerbyWheel president DJ Hyun, who is now listed as holding ‘75% or more’ of shares and voting rights.

That’s the maximum they will say on the record: even companies under the 100% ownership and control of a single entity or individual are only listed as ‘75% or more’.

DerbyWheel’s website still lists Pope as CEO of DerbyWheel Player Ltd. It’s very nearly 500 days since the website’s last news article.