10 Jun 2014 15:26
10 June 2014
bwin.party digital entertainment plc
('bwin.party' or the 'Company')
Directorate Change
Further to the announcement made by bwin.party on 22 May 2014, the bwin.party board of directors announces the appointment of Daniel Silvers as a non-executive director of the Company with immediate effect.
This appointment is made under the terms of a relationship agreement entered into by amongst others, bwin.party, Emerald Bay Limited ('Emerald') and Stinson Ridge Limited ('Stinson') that was approved by shareholders on 28 January 2011 and to which SpringOwl Gibraltar Partners B Limited ('SpringOwl') became a party on 28 February 2014 as a result of acquiring 6.1%* of bwin.party's issued share capital from Emerald and Stinson together with the director nomination right. As disclosed on 22 May 2014, SpringOwl nominated Daniel Silvers for appointment to the bwin.party board of directors.
Daniel Silvers, aged 37, is President of SpringOwl Asset Management LLC (formerly Ader Investment Management LLC) and also serves on the board of directors of India Hospitality Corp. He has previously served on the board of directors of both International Game Technology and Universal Health Services, Inc. Daniel Silvers joined Ader Investment Management from Fortress Investment Group, a leading global alternative asset manager, where he worked from 2005 to 2009. Prior to joining Fortress, he was a senior member of the real estate, gaming and lodging investment banking group at Bear, Stearns & Co. Inc., where he was from 1999 to 2005. Daniel Silvers holds a B.S. in Economics and an M.B.A. in Finance from The Wharton School of the University of Pennsylvania.
There are no other disclosures to be made under Listing Rule 9.6.13.
* SpringOwl's shareholding was subsequently reduced to 5.2% of the Company's issued share capital.
Contacts:
Investors: | |
Peter Reynolds | +44 (0) 20 7337 0177 |
Media: | |
John Shepherd | +44 (0) 20 7337 0141 |