Cryptologic Takeover Receives Unconditional Approval
Following a shareholder vote, Amaya Gaming Group, a leading Canadian gaming company, said that its offer to take over Cryptologic online gaming software provider, has been unconditionally approved.
Accordingly, 73.76% of the issued share capital received valid acceptances from Cryptologic shareholders. Amaya's existing 7.02% interest in Cryptologic ensures that it will own 80.78% of the software company.
As the Cryptologic takeover received unconditional approval, Amaya will be required to pay for millions of tendered shares within the next few days.
The unconditional approval means that shareholders of Cryptologic have agreed to sell their shares to Amaya, while some may refuse to sell their shares.
To ensure that everyone has been given a chance to vote, Amaya extended its offer period until the 18th of this month so that shareholders who are still unsure can accept the group's offer.
Cryptologic to Delist from Toronto Stock Exchange.
Amaya Gaming Group requested that Cryptologic apply for a delisting on the Toronto Stock Exchange, the London Stock Exchange and Nasdaq since the offer has become unconditional.
A press release regarding the unconditional acceptance read: "Now that the offer has become wholly unconditional, Amaya intends to procure that Cryptologic make an application for the cancellation of the listing of the Cryptologic shares on the Official List and for the cancellation of trading of the Cryptologic shares on the London Stock Exchange's Main Market. At least 20 business days notice of the intended cancellation will be given by Cryptologic."
The group stated that it intended to procure that "Cryptologic applies to the TSX for the delisting of the Cryptologic shares on such exchange and the SEC for the delisting of the Cryptologic shares from NASDAQ".
About Cryptologic and Amaya
Cryptologic is an Irish-Canadian company and is considered one of the world's top online gambling software developers, alongside such stalwarts as Microgaming, Playtech and RealTime Game gaming.
The group is listed on the Toronto Stock Exchange and the NASDAQ and in 2003 began trading on the London Stock Exchange after receiving gaming software certification from the Alderney Gambling Commission.
Cryptologic has licensed games to a number of top e-gaming operators such as PartyGaming, Betfair and 888.com.
Amaya Gaming provides gaming solutions in the areas of integrity software, regulation, lottery and online games.
According to the site's website, it is "leading the way with new gaming technologies, including server and network based gaming, electronic table games, online and portable gaming."
