Result of scheme court hearing
Recommended Offer for Sportingbet plc by William Hill Australia Pty Limited, a wholly owned subsidiary of William Hill plc, and GVC Holdings plc to be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006 (the "Offer")
Result of Scheme Court Hearing
The Board of Sportingbet plc is pleased to announce that at the Scheme Court Hearing this morning, the Court gave its approval to the Scheme.
Next Steps
Completion of the Offer remains subject to the satisfaction or waiver of certain Conditions set out in the Scheme Document published on 25 January 2013, including Court confirmation of the associated Reduction of Capital. The expected date for the Reduction Court Hearing is 14 March 2013. Subject to the Conditions as described above, it is anticipated that the Scheme will become effective on or around 19 March 2013. Further details of the expected timetable of principal events are set out below.
Capitalised terms, unless otherwise defined in this announcement, have the meaning given to them in the Scheme Document published on 25 January 2013.
A copy of this announcement will be available on the websites of Sportingbet at www.sportingbetplc.com, William Hill at www.williamhillplc.com and GVC at www.GVC-plc.com.
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Enquiries |
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Sportingbet Andrew McIver Jim Wilkinson |
+44 (0)20 7184 1800 |
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Lazard (Financial Adviser to Sportingbet) Cyrus Kapadia Aamir Khan |
+44 (0)20 7187 2000 |
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Canaccord Genuity Limited (Broker to Sportingbet) Bruce Garrow Adam Miller |
+44 (0)20 7523 8350 |
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Maitland (PR Adviser to Sportingbet) George Hudson Daniel Yea |
+44 (0)20 7379 5151 |
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William Hill Ralph Topping, Chief Executive Neil Cooper, Group Finance Director Lyndsay Wright, Director of IR |
+44 (0)20 8918 3614 |
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Citi (Lead Financial Adviser and Joint Broker to William Hill) Jan Skarbek Andrew Seaton Sajjad Vakilian |
+44 (0)20 7986 4000 |
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Investec (Financial Adviser and Joint Broker to William Hill) Chris Treneman James Rudd |
+44 (0)20 7597 5970 |
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Brunswick (PR Adviser to William Hill) Simon Sporborg |
+44 (0)20 7404 5959 |
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GVC Kenneth Alexander, Chief Executive Officer Richard Cooper, Group Finance Director |
+44 (0)20 7398 7702 |
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Daniel Stewart (Financial Adviser, NOMAD and Broker to GVC) Paul Shackleton David Hart |
+44 (0)20 7776 6550 |
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Abchurch (PR Adviser to GVC) Henry Harrison-Topham |
+44 (0)20 7398 7702 |