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4 May 2012 14:17
4 May 2012
bwin.party digital entertainment plc
Share repurchase programme
bwin.party announces that, as part of its current share buyback programme, and as the Company is shortly to go into a prohibited period due to its Interim Management Statement and Q1 2012 Key Performance Indicators, it has appointed Numis Securities to lead-manage a non-discretionary arrangement to repurchase up to £17 million (€20.5 million) of ordinary shares in the capital of the Company on its own behalf for cancellation (the 'Arrangement'). The Arrangement allows Numis Securities to make its trading decisions in relationto the Company's securities independently of, and uninfluenced by, the Company with regard to the timing of the purchases.
The Arrangement will commence on 7 May 2012 and end on the earlier to occur of (i) termination by the Company when the Company is not in a prohibited period; (ii) if the Company is required by applicable law or regulation to make an announcement during the prohibited period regarding a significant legislative or regulatory event affecting a current or future gaming market and which may have a significant impact on the financial position of the Company; or (iii) 16 May 2012.
Any acquisitions will be effected within certain pre-set parameters, and in accordance with both the Company's general authority to repurchase shares and Chapter 12 of the Listing Rules. The terms of the buyback programme may only be amended or terminated by the Company, when the Company is not in a prohibited period.
The Company confirms that it currently has no unpublished price sensitive information.
Contacts:bwin.party digital entertainment plc
InvestorsPeter Reynolds +44 (0) 20 7337 0100MediaJohn Shepherd +44 (0) 20 7337 0100
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