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AMAYA OFFER FOR CRYPTOLOGIC ENTERING FINAL STAGES

02/21/2012 :  AMAYA OFFER FOR CRYPTOLOGIC ENTERING FINAL STAGES
 
Details of acquisition offer will reach shareholders soon
 
The directors of Amaya Gaming and Cryptologic have continued to work together on an acquisition offer as announced earlier this month, with Cryptologic directors recommending the deal to shareholders at US$2.535 per share.
 
In a further communication this week the two companies announced that the offer document dated 17 February 2012 setting out, amongst other things, the terms and conditions of the Amaya offer and the procedure for acceptance, together with the Form of Acceptance, and the Directors' Circular of the board of Cryptologic dated are currently being posted to shareholders of Cryptologic, and for information only, to exchangeable shareholders of Cryptologic's indirect wholly owned subsidiary, Cryptologic Exchange Corporation and holders of Cryptologic stock options.
 
Amaya's offer will initially remain open for acceptance until 3:00 p.m. GMT on 28 March 2012 and is conditional upon, among other things, valid acceptances being received in respect of more than 50 percent in value of the issued share capital of Cryptologic and more than 50 percent of the voting rights attached to the issued share capital of Cryptologic normally exercisable at general meetings.
 
Shareholders are invited to complete the formalities outlined in the documents they have b een sent in order to progress the deal.
 
Copies of the Offer Document, the Form of Acceptance, the Directors' Circular and other documents on display will be available free of charge on the websites of both companies.



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