Sunday March 03,2013 : LADBROKES COMPLETES BETDAQ ACQUISITION (Update)
Call option for full stake in technology provider after four years
Ladbrokes' has announced the completion of its acquisition of Betdaq from TBH Limited of Global Betting Exchange Alderney Limited (GBEA), the operator of the betting exchange.
The deal includes a 10 percent stake in TBH Guernsey Limited (TBHG), the technology provider to GBEA with a call option to acquire the remaining shares in TBHG after four years.
6,952,405 ordinary shares of 28⅓ pence each in the company have been allotted to TBH as part of the consideration for the acquisition of GBEA, while application has been made to the UK Listing Authority and the London Stock Exchange (LSE) for these shares to be listed on the official list and admitted to trading on the LSE.
Dealings are expected to commence on March 4, 2013.