Further to the announcement made by the Company on 27 July 2015, the directors of GVC note the recent press speculation concerning a proposal by the Company to acquire bwin.party digital entertainment plc (“bwin.party”).
The GVC Board confirms that the Company has made a fully funded proposal to the Board of bwin.party for the acquisition of the entire issued and to be issued share capital of bwin.party under which bwin.party shareholders would be entitled to receive, for each bwin.party share, 25p in cash and 0.231 new GVC ordinary shares (the “Proposal”). Based on the closing price of GVC shares on 6 August 2015, the Proposal would represent a value of approximately 125.5p per bwin.party share.
GVC is working closely with bwin.party and its advisers with a view to progressing the remaining open aspects of its Proposal to enable the bwin.party Board to make a full evaluation of the Proposal. GVC anticipates that this work should conclude within the next 5-10 business days.
There can be no certainty that an offer for bwin.party will be made by the Company.
The GVC Board will update shareholders in due course.
For further information:
|Cenkos Securities plc (Nomad & Broker)||Tel: +44 (0) 20 7397 8900|
|Mark Connelly, Stephen Keys, Camilla Hume|
|Houlihan Lokey (Financial Adviser)||Tel: +44 (0) 20 7839 3355|
|Bell Pottinger||Tel: +44 (0) 20 3772 2496|
|David Rydell, James Newman, Anna Legge|
About GVC Holdings PLC
GVC Holdings PLC is a leading e-gaming operator in both b2c and b2b markets. Its core brands are CasinoClub, Betboo and Sportingbet. The Group has over 700 employees/consultants and is headquartered in the Isle of Man and has licenses in Malta, Denmark, UK, South Africa, Italy, Alderney and the Dutch Caribbean.
Further information on the Group is available at www.gvc-plc.com