18 Jan 2018 09:27
Ladbrokes Coral Group plc (LSE: LCL)
Legal Entity Identifier: 213800P7FJOPCV4H3J04
Offer Update
18 January 2018
Further to the announcement on 22 December 2017 of a recommended offer by GVC for the entire issued and to be issued ordinary share capital of Ladbrokes Coral (the "Rule 2.7 Announcement"), Ladbrokes Coral confirms that the Scheme Document, which will contain further information about the Acquisition and notices convening the Court Meeting and the Ladbrokes Coral General Meeting, is expected to be published and sent to Ladbrokes Coral Shareholders in early or mid February 2018.
On the date of publication of the Scheme Document, Ladbrokes Coral will issue a further announcement containing a trading update in respect of the year ended 31 December 2017.
As noted in the Rule 2.7 Announcement, it is currently expected that the Acquisition will be completed during late Q1 or early Q2 2018. In the light of this, it is expected that Ladbrokes Coral will defer the publication of its full year results for the year ended 31 December 2017 until late April 2018.
It is expected that, upon the Acquisition Completing, the admission of Ladbrokes Coral Shares to the premium listing segment of the Official List will be cancelled and Ladbrokes Coral will be reregistered as a private limited company. If the Acquisition completes prior to the publication of Ladbrokes Coral's full year results it is likely that their publication will be further deferred as permitted by the Act.
It is also expected that the timetable for holding Ladbrokes Coral's 2018 annual general meeting will be deferred accordingly. A further announcement in relation to this will be made in due course.
Terms defined in the Rule 2.7 Announcement have the same meanings when used this announcement.
Enquiries
Paul Tymms, Director of Investor Relations
Donal McCabe, Group Communications Director
+44 (0)20 8429 7777