Business
Offer Update
Offer Update.
About this update from Entain Plc
[{"type":"text","content":"\n \nRNS Number : 1258H GVC Holdings PLC 08 March 2018 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART INTO OR FROM AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n8 March 2018\nFOR IMMEDIATE RELEASE\nRECOMMENDED OFFER\nFOR\nLADBROKES CORAL GROUP PLC (\"Ladbrokes Coral\")\nBY\nGVC HOLDINGS PLC (\"GVC or the \"Company\")\nto be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006\nRESULT OF EXTRAORDINARY GENERAL MEETING\n(\"EGM\")\nGVC, a leading e-gaming operator in both B2C and B2B markets, is pleased to announce that at an EGM of the Company held earlier today in connection with the proposed acquisition of the entire issued and to be issued share capital of Ladbrokes Coral (the \"Acquisition\"), all resolutions were duly passed in accordance with the terms set out in the Notice of EGM dated 9 February 2018 contained in the prospectus published by the Company on 9 February 2018 (the \"GVC Prospectus\")(the \"EGM Notice\"). Details of the resolutions passed are set out in the EGM Notice.\nThe table below sets out the voting results in respect of the resolutions (which were taken on a poll):\n\n\n\n\n \n\n\nResolution\n\n\nVotes Cast\n\n\nVotes for\n\n\n% for\n\n\nVotes against\n\n\n% against\n\n\nVotes withheld\n\n\n\n\n1\n\n\nApproval of the Acquisition\n\n\n205,615,974\n\n\n205,554,187\n\n\n99.97\n\n\n61,787\n\n\n0.03\n\n\n12,873\n\n\n\n\n2\n\n\nAuthority to allot shares\n\n\n205,614,983\n\n\n205,553,739\n\n\n99.97\n\n\n61,244\n\n\n0.03\n\n\n13,864\n\n\n\n\n3\n\n\nAuthority to increase share capital and amendment of the GVC Articles\n\n\n205,614,557\n\n\n205,543,828\n\n\n99.97\n\n\n70,729\n\n\n0.03\n\n\n14,290\n\n\n\n\n4\n\n\nAuthority to provide the indemnity under the CVR Instrument\n\n\n205,614,294\n\n\n205,543,891\n\n\n99.97\n\n\n70,403\n\n\n0.03\n\n\n14,553\n\n\n\n\n \nCompletion of the Acquisition remains subject to satisfaction or (where applicable) waiver of certain other Conditions set out in the Scheme Document, including the sanctioning of the Scheme by the Court which is scheduled to occur on 26 March 2018. Subject to receiving the sanction of the Court on that date, the Scheme is expected to become Effective on 28 March 2018, with admiss...