LADBROKES GALA CORAL MERGER COMPLETED (Update)
New chapter begins.
The Ladbrokes merger with certain Gala Coral Group businesses, including Coral Retail, Eurobet Retail and Gala Coral’s online businesses, is complete.
Earlier today, the listing of Ladbroke’s 1,050,455,117 Existing Ordinary Shares were cancelled and readmitted to the premium listing segment of the Official List of the UKLA and to trading on the London Stock Exchanges main market for listed securities.
In addition 866,518,803 Consideration Shares and 29,174,406 Playtech Shares were admitted to the premium listing segment of the Official List of the UKLA and to trading on the London Stock Exchanges main market for listed securities.
"In uniting these two businesses we are bringing together some of the best known and admired brands in betting and gaming,” Ladbrokes Coral Chairman, John Kelly said.
“We believe that no other gambling business has such a strong heritage, with brands that enjoy such broad appeal and a presence that is woven into the fabric of the UK culture as well as overseas regulated markets.
“Together, we have the opportunity to grow the business building on our scale, the digital opportunity we have in our markets, our international presence and through delivery of significant synergy savings.
“We have a strong management team in place and are already well placed to set about the creation of a new business with a clear focus on delivering the opportunities the completion of the merger offers us."
Board changes, as the new company takes flight, comprise Carl Leaver as Executive Deputy Chairman, Paul Bowtell as Chief Financial Officer; and Rob Templeman as a Non-Executive Director.
Other announcements on the composition of the Audit, Nomination, Remuneration, and Social Responsibility Committees of the board of directors were communicated as:
– Audit Committee: Mark Pain (Chair), Christine Hodgson and Stevie Spring;
– Nomination Committee: John Kelly (Chair), Mark Clare, Christine Hodgson, Mark Pain, Stevie Spring and Rob Templeman;
– Remuneration Committee: Stevie Spring (Chair), Mark Clare, John Kelly, Christine Hodgson and Mark Pain; and
– Social Responsibility Committee: Mark Clare (Chair), Christine Hodgson and Stevie Spring.