Friday February 22,2013 : SPORTINGBET OFFER APPROVED BY STAKEHOLDERS
Share and Bond Holders give their stamp of approval
The recommended offer for Sportingbet plc by William Hill Australia Pty Limited, a wholly owned subsidiary of William Hill plc, and GVC Holdings plc moves ahead as GVC and Sportingbet stakeholders approve the transaction.
Resolutions tied to the offer were approved by the majority of stakeholders at a Sportingbet Bondholder General Meeting, Court Meeting and the Shareholder General Meeting today.
Sportingbet's Bondholder meeting yielded 657 votes in favour representing 100 percent of the votes cast. 86.71 percent majority of Scheme Shareholders voted in favour of the resolution to approve the Scheme and its Shareholder General Meeting was passed on a poll by the requisite majority.
Completion of the Offer remains subject to certain conditions but is anticipated to become effective around March 19, 2013.
In related news, GVC Holdings PLC announced all resolutions relating to the deal were passed at an Extraordinary General Meeting of the Company also held today (Friday).