Merger
Between bwin and PartyGaming Planned to Complete on
31 March 2011
15th
March 2011
-
Merger Plan Requirements Now Met in Austria
Following
the almost unanimous approval of the merger at the
extraordinary general meetings of both bwin Interactive
Entertainment AG (bwin) and PartyGaming Plc. (PartyGaming)
on 28 January 2011, the proposed merger was formally
entered into the companies' register by the Vienna
Commercial Court on 15 March 2011. Subject to the
formal approval from the supreme court in Gibraltar,
the merger is expected to complete on 31 March 2011.
Share
trading on the stock exchange
bwin
shares (ISIN AT0000767553) will cease trading on the
Vienna Stock Exchange at close of business on 25 March
2011. For administrative reasons, trading in bwin
shares on the Vienna Stock Exchange must be suspended
for three days prior to completion and also on the
day of completion itself (31 March 2011). On 1 April
2011, existing bwin shareholders will receive 12.23
bwin.party depositary interests (ISIN GI000A0MV757)
for each bwin share free of charge. These depository
interests can then be traded on the London Stock Exchange
under the ticker symbol BPTY.L.
The
exchange ratio of 12.23 bwin.party depositary interests
for each bwin share will result in so-called 'fractional
entitlements', rights to fractions of bwin.party depositary
interests that cannot be traded on the London Stock
Exchange. In accordance with the terms of the merger,
these entitlements will be disposed of, and the proceeds
of sale credited to the original beneficiaries (former
bwin shareholders) in a process that may take up to
two weeks. The disposal of fractional entitlements
is also without cost to bwin shareholders.
Anti-trust
approvals received
Following
the approval of the merger in Germany by the Federal
Cartel Office and in Austria by the Federal Competition
Authority, bwin has now also received anti-trust approval
from the relevant authorities in Romania.
Dividend
The
new bwin.party depositary interests will carry a dividend
entitlement with effect from 1 January 2010. The company's
dividend policy will be determined by the new board
of bwin.party digital entertainment plc over the next
few months.
15
March 2011
Announcement
by bwin Interactive Entertainment AG (bwin)
Merger
between bwin and PartyGaming planned to complete on
31 March 2011
Merger
plan requirements now met in Austria
Vienna,
15 March 2011 - Following the almost unanimous approval
of the merger at the extraordinary general meetings
of both bwin Interactive Entertainment AG (bwin) and
PartyGaming Plc. (PartyGaming) on 28 January 2011,
the proposed merger was formally entered into the
companies register by the Vienna Commercial
Court on 15 March 2011. Subject to the formal approval
from the supreme court in Gibraltar, the merger is
expected to complete on 31 March 2011.
Share
trading on the stock exchange
bwin
shares (ISIN AT0000767553) will cease trading on the
Vienna Stock Exchange at close of business on 25 March
2011. For administrative reasons, trading in bwin
shares on the Vienna Stock Exchange must be suspended
for three days prior to completion and also on the
day of completion itself (31 March 2011). On 1 April
2011, existing bwin shareholders will receive 12.23
bwin.party depositary interests (ISIN GI000A0MV757)
for each bwin share free of charge. These depository
interests can then be traded on the London Stock Exchange
under the ticker symbol BPTY.L.
The
exchange ratio of 12.23 bwin.party depositary interests
for each bwin share will result in so-called fractional
entitlements, rights to fractions of bwin.party
depositary interests that cannot be traded on the
London Stock Exchange. In accordance with the terms
of the merger, these entitlements will be disposed
of, and the proceeds of sale credited to the original
beneficiaries (former bwin shareholders) in a process
that may take up to two weeks. The disposal of fractional
entitlements is also without cost to bwin shareholders.
Anti-trust
approvals received
Following
the approval of the merger in Germany by the Federal
Cartel Office and in Austria by the Federal Competition
Authority, bwin has now also received anti-trust approval
from the relevant authorities in Romania.
Dividend
The
new bwin.party depositary interests will carry a dividend
entitlement with effect from 1 January 2010. The companys
dividend policy will be determined by the new board
of bwin.party digital entertainment plc over the next
few months.
About
bwin
The
bwin Group has over 20 million registered customers
in more than 25 core markets. On a number of different
platforms, the Group offers sports betting, poker,
casino games, soft and skill games, as well as audio
and video streams of top sporting events such as the
German Soccer League. The holding company, bwin Interactive
Entertainment AG is listed in the ATX on the Vienna
Stock Exchange (ID code BWIN, Reuters ID code BWIN.VI),
and as the parent company provides various services
such as software development, marketing, communications,
human resources and finance for its subsidiaries and
associated companies. The operational business of
the bwin Group is carried out by subsidiaries and
associated companies on the basis of licences issued
(e.g. France, Italy and Gibraltar). Full details about
the Company can be found on its investor relations
website at www.bwin.org
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