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Asian Logic To Delist From London Stock Exchange
The Asia-facing online gambling group AsianLogic plc, which was accepted on to the London AIM stock exchange at the end of 2007, plans to delist as soon as it has the approval of 75 percent of its shareholders, the company announced this week.
The company has already secured irrevocable undertakings from shareholders representing 63.67 percent of the issued capital of the company to vote in favour of the proposal, the Proactive Investor website reports.
AsianLogic listed on AIM in December 2007 after successfully raising GBP 40.7 million net of proceeds through placing 48.5 million shares at 111.6 pence per share. At the close of trade yesterday the company’s shares were trading at 22.5 pence.
The company owns and operates online casinos and poker rooms plus additional sports book venues through the Mega Sports World brand.
A company statement said that the delisting decision had been taken due to low trading volumes in the shares, and that it hopes to complete the delisting by July 3rd 2009.
The company is offering to buy its shares back at 25p, an 11.1 percent premium on the current price, and is budgeting almost GBP 17 million to effect this.
“The market is not reflecting the value in the company or the growth opportunities it will enjoy as it refocuses on higher margin business and deposit accounts," a company spokesman said. "The first year of trading was positive but 2008 proved difficult.
“The board and management of Asian Logic are offering shareholders the possibility of enjoying the future growth of the company, but if [they] don’t want to carry over into the private company, they are still getting a premium on the shares.”
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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