Amaya Forms special committee

March 2,2016  : AMAYA SPECIAL COMMITTEE IN ACTION (Update)

In anticipation of acquisition proposals from interested parties.

In an update following the announcement of chief executive officer David Baazov’s intention to make an offer for Amaya Inc. (see previous InfoPowa report), the board has formed a special committee to conduct an independent review of alternatives.

Baazov notified the board at the end of January 2016 of his intention to make a proposal to acquire Amaya for C$21 per common share in cash but has yet to submit a formal offer.

The Special Committee has appointed Barclays Capital Canada Inc. to act as financial advisor under a broad mandate to assist in considering any proposal that may be forthcoming, as well as other alternatives that may become available to Amaya. 

In addition, Moelis & Company LLC has been engaged to provide an independent valuation of Amaya's securities in connection with any offer that may be made by Baazov and has settled terms in which confidential information regarding Amaya, for the purposes of evaluating and making an offer, will be made available to Baazov’s group.