Statement re: Mix and Match Facility
GVC Holdings PLC (AIM:GVC), a leading provider of B2B and B2C services to the online gaming and sports betting markets, notes the recent announcement ("Announcement") relating to the results of elections under the Mix and Match Facility released earlier today by Sportingbet plc.
The Announcement reported, inter alia, that under the Mix and Match Facility valid Elections to receive the consideration under the Offer in New GVC Shares were received in respect of 132,291,195 Sportingbet Shares. As a result, all valid Elections under the Mix and Match Facility to receive the consideration under the Offer in New GVC Shares will be scaled back and such Elections will be satisfied as to approximately 73.87 per cent. of the Election.
Kenneth Alexander, Chief Executive Officer of GVC Holdings plc, commented: "The Board of GVC is delighted to see that so many Sportingbet shareholders have elected to receive their consideration in GVC shares. GVC's strategy of delivering shareholder value through dividends is one that the Group is committed to and the GVC Board believes that the Enlarged Group has an exciting future once the businesses have been successfully integrated."
Further to GVC's announcement on 21 February 2013, and subject to the Scheme becoming effective on 19 March 2013, it is expected that admission of the Existing GVC Shares will be cancelled and that the Enlarged Issued Share Capital of GVC will be re-admitted to AIM at 8.00 a.m. on 20 March 2013. Dealing in GVC Shares is expected to commence on AIM at 8.00 a.m. on 20 March 2013.
For further information:
|GVC Holdings PLC|
|Kenneth Alexander, Chief Executive Officer||Tel: +44 (0) 20 7398 7702|
|Richard Cooper, Group Finance Director||www.gvc-plc.com|
|Daniel Stewart & Company Plc||Tel: +44 (0) 20 7776 6550|
|David Hart / Paul Shackleton / James Felix||www.danielstewart.co.uk|
|Henry Harrison-Topham / Shabnam Bashir||Tel: +44 (0) 20 7398 7702|
About GVC Holdings PLC
GVC Holdings PLC is a leading provider of B2B and B2C services to the online gaming and sports betting markets. The Group is headquartered in the Isle of Man and is licensed in Malta, and the Netherlands Antilles.
Further information on the Group is available at www.gvc-plc.com