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12 Jun 2015 07:02
12 June 2015
bwin.party digital entertainment plc
('bwin.party' or the 'Company')
Share placing
The Board of bwin.party has become aware that the independent trustees of both Emerald Bay Limited ('Emerald') and Stinson Ridge Limited ('Stinson'), two of the Group's shareholders (together 'the Trustees'), have chosen to place up to 50 million shares in bwin.party.
Whilst the Board was not party to the placing arrangements, they are consistent with the Trustees' obligations to sell down their holdings before the end of October 2015 under the terms of the divestiture arrangements that were entered into by both Emerald and Stinson and which were disclosed in a press announcement issued by the Company on 31 October 2013.
Philip Yea, Chairman of bwin.party said:
"We welcome today's news regarding the placing by the Trustees as it provides clarity for the market regarding a significant block of shares that were due to be sold during 2015. The sale has no bearing on the Board's discussions regarding proposals received from third parties that are continuing and whilst there can be no guarantee that these discussions will result in any transaction taking place, the Board will make further announcements in due course."
Contacts:
InvestorsPeter Reynolds +44 (0) 20 7337 0177
MediaJay Dossetter +44 (0) 20 7337 0134
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