Business
Recommended Cash Offer for Enlabs AB
Recommended Cash Offer for Enlabs AB.
About this update from Entain Plc
[{"type":"text","content":"\n \n This announcement is not an offer, whether directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden who wish to accept the Offer (as defined below) must make inquiries concerning applicable legislation and possible tax consequences. Shareholders should refer to the offer restrictions included in the section titled “Important information” at the end of this announcement and in the offer document which will be published shortly before the commencement of the acceptance period under the Offer. Shareholders in the United States should also refer to the section titled “Special notice to shareholders in the United States” at the end of this announcement.\n PRESS RELEASE 7 January 2021\n Entain announces a recommended cash offer to the shareholders of Enlabs AB\n Entain plc (formerly known as GVC Holdings plc) the global sports-betting and gaming group, through its wholly-owned subsidiary Bwin Holdings (Malta) Limited (“Entain”), hereby announces a recommended cash offer to the shareholders of Enlabs AB (“Enlabs” or the “Company”) to tender all their shares in Enlabs to Entain at a price of SEK 40 per share (the Offer”).\n The shares in Enlabs are admitted to trading on Nasdaq First North Growth Market (“Nasdaq First North”) of Sweden.\n \n \n The Offer in brief\n \n · Entain offers SEK 40 in cash per share in Enlabs.[1] The Offer values Enlabs at around SEK 2.80 billion (equivalent to approximately GBP 250 million at the time of this announcement).[2]\n · The Independent Bid Committee of Enlabs has unanimously resolved to recommend the Company’s shareholders to accept the Offer. The recommendation is supported by a fairness opinion provided by Mangold Fondkommission AB.\n · Shareholders holding in aggregate around 42.2% of the total number of Enlabs shares have undertaken to accept the Offer.\n · The Offer represents a premium of:\n - approximately 42.3% compared to the volume-weighted average price of SEK 28.12 per Enlabs share on Nasdaq First North during the last 180 trading days prior to the announcement of the Offer;\n - approximately 15.6% compared to the volume-weighted...