Business
William Hill International Acquisition Update
William Hill International Acquisition Update.
About this update from Evoke Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9569T\n 888 Holdings plc\n 30 November 2021\n \n \n \n \n \n \n \n 30 November 2021\n \n \n 888 Holdings Plc\n \n \n (the \"Company\", and together with its subsidiaries, \"888\" or \"the Group\")\n \n \n \n \n William Hill International Acquisition Update\n \n Strong progress made towards completion - now expected in Q1 2022\n \n \n 888 (LSE: 888), one of the world's leading online betting and gaming companies, today provides an update on the acquisition of the international (non-US) business of William Hill (\"William Hill\" or \"William Hill International\") as previously announced on 9 September 2021 (the \"Acquisition\"). \n \n \n Key highlights\n \n \n · \n All mandatory antitrust and gaming regulatory clearances received\n \n \n · \n Shareholder circular and prospectus expected to be issued in early 2022, with shareholder vote to follow \n \n \n · \n Completion is now expected to occur in Q1 2022, subject to satisfaction of remaining conditions to completion\n \n \n · \n New equity to be issued via capital raise expected to occur prior to completion of the Acquisition\n \n \n · \n Integration planning progressing well, with Guy Cohen appointed SVP, Director of Integration, working alongside senior counterparts from William Hill\n \n \n · \n Continued focus on execution in existing 888 business, with current trading in line with Board expectations\n \n \n Additional information\n \n \n The Group is pleased to confirm that it has received all mandatory antitrust and pre-completion gaming regulatory clearances, marking the satisfaction of these important conditions of completion of the Acquisition. \n \n \n Alongside efforts to ensure completion in Q1 2022, the Group has also focused on integration planning, which is progressing well. The Group has appointed Guy Cohen as SVP, Director of Integration, to work alongside a senior team from William Hill to advance integration preparations. Guy formerly served as SVP, Head of B2C at 888, and will continue to report to Itai Pazner, CEO. \n \n \n As previously announced, 888 expects to raise approximately £500 million of gross proceeds by issuing new equity via a capital raise (the \"Capital Raise\"), which is currently expected to occur prior to the completion of the Acquisition. \n \n \n As set out in the Acquisition announ...