Last checked at 26 Jul 2018 07:00
Playtech PLC
("Playtech" or the "Group")
Commencement of Snaitech squeeze out proceedings
26 July 2018
Further to the announcement on 22 June relating to the launch of the mandatory takeover offer (the "Mandatory Takeover Offer") for the remaining shares of Snaitech S.p.A. ("Snaitech") not owned by the Group, Playtech is pleased to announce that, as at the end of the acceptance period for the Mandatory Takeover Offer, and including market purchases to date, the Group now owns approximately 96.5% of the total issued share capital of Snaitech.
As a result of the above, Pluto (Italia) S.p.A., a wholly-owned subsidiary of Playtech, has announced that it is initiating the necessary steps for the transfer of the remaining approximately 3.5% minority shareholdings in Snaitech it does not own under article 111 of Italian Financial Services Act (the "Squeeze Out"). The shareholders of Snaitech that are subject to the Squeeze Out will receive cash consideration equal to 2.19 Euros per share as noted in the Mandatory Takeover Offer.
It is expected that Snaitech's shares will be suspended from trading on 1 August 2018 and 2 August 2018 and that, following completion of the Squeeze Out, will be de-listed from Mercato Telematico Azionario, organised and managed by Borsa Italiana, on 3 August 2018.
For further information please contact: | |
Playtech plc | +44 (0) 16 2464 5954 |
James Newman, Head of Investor Relations | |
Headland (PR adviser to Playtech) | +44 (0) 20 3805 4822 |
Lucy Legh | |
Stephen Malthouse |
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