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Merger Between bwin and PartyGaming Planned to Complete on 31 March 2011
VIENNA, Austria, March 15, 2011/PRNewswire/ --
- Merger Plan Requirements Now Met in Austria
Following the almost unanimous approval of the merger at the
extraordinary general meetings of both bwin Interactive Entertainment AG
(bwin) and PartyGaming Plc. (PartyGaming) on 28 January 2011, the proposed
merger was formally entered into the companies' register by the Vienna
Commercial Court on 15 March 2011. Subject to the formal approval from the
supreme court in Gibraltar, the merger is expected to complete on 31 March
2011.
Share trading on the stock exchange
bwin shares (ISIN AT0000767553) will cease trading on the Vienna Stock
Exchange at close of business on 25 March 2011. For administrative reasons,
trading in bwin shares on the Vienna Stock Exchange must be suspended for
three days prior to completion and also on the day of completion itself (31
March 2011). On 1 April 2011, existing bwin shareholders will receive 12.23
bwin.party depositary interests (ISIN GI000A0MV757) for each bwin share free
of charge. These depository interests can then be traded on the London Stock
Exchange under the ticker symbol BPTY.L.
The exchange ratio of 12.23 bwin.party depositary interests for each bwin
share will result in so-called 'fractional entitlements', rights to fractions
of bwin.party depositary interests that cannot be traded on the London Stock
Exchange. In accordance with the terms of the merger, these entitlements will
be disposed of, and the proceeds of sale credited to the original
beneficiaries (former bwin shareholders) in a process that may take up to two
weeks. The disposal of fractional entitlements is also without cost to bwin
shareholders.
Anti-trust approvals received
Following the approval of the merger in Germany by the Federal Cartel
Office and in Austria by the Federal Competition Authority, bwin has now also
received anti-trust approval from the relevant authorities in Romania.
Dividend
The new bwin.party depositary interests will carry a dividend entitlement
with effect from 1 January 2010. The company's dividend policy will be
determined by the new board of bwin.party digital entertainment plc over the
next few months.
Further information:
Investors:
Konrad Sveceny, Investor Relations
bwinInteractive Entertainment AG
Borsegasse 11, 1010 Vienna, Austria
Tel: +43(0)50-858-20017
E-mail: investorrelations@bwin.org
http://www.bwin.org
Press:
Matthias Winkler, Chief Communications Officer
bwinInteractive Entertainment AG
Borsegasse 11, 1010 Vienna, Austria
Tel: +43(0)50-858-20067
E-mail: press@bwin.org
http://www.bwin.org
Source: bwin Interactive Entertainment AG
Further information: Investors: Konrad Sveceny, Investor Relations, bwinInteractive Entertainment AG, Borsegasse 11, 1010 Vienna, Austria, Tel: +43(0)50-858-20017, E-mail: investorrelations@bwin.org; Press: Matthias Winkler, Chief Communications Officer, bwinInteractive Entertainment AG, Borsegasse 11, 1010 Vienna, Austria, Tel: +43(0)50-858-20067, E-mail: press@bwin.org
Merger Between bwin and PartyGaming Planned to Complete on 31 March 2011
VIENNA, Austria, March 15, 2011/PRNewswire/ --
- Merger Plan Requirements Now Met in Austria
Following the almost unanimous approval of the merger at the
extraordinary general meetings of both bwin Interactive Entertainment AG
(bwin) and PartyGaming Plc. (PartyGaming) on 28 January 2011, the proposed
merger was formally entered into the companies' register by the Vienna
Commercial Court on 15 March 2011. Subject to the formal approval from the
supreme court in Gibraltar, the merger is expected to complete on 31 March
2011.
Share trading on the stock exchange
bwin shares (ISIN AT0000767553) will cease trading on the Vienna Stock
Exchange at close of business on 25 March 2011. For administrative reasons,
trading in bwin shares on the Vienna Stock Exchange must be suspended for
three days prior to completion and also on the day of completion itself (31
March 2011). On 1 April 2011, existing bwin shareholders will receive 12.23
bwin.party depositary interests (ISIN GI000A0MV757) for each bwin share free
of charge. These depository interests can then be traded on the London Stock
Exchange under the ticker symbol BPTY.L.
The exchange ratio of 12.23 bwin.party depositary interests for each bwin
share will result in so-called 'fractional entitlements', rights to fractions
of bwin.party depositary interests that cannot be traded on the London Stock
Exchange. In accordance with the terms of the merger, these entitlements will
be disposed of, and the proceeds of sale credited to the original
beneficiaries (former bwin shareholders) in a process that may take up to two
weeks. The disposal of fractional entitlements is also without cost to bwin
shareholders.
Anti-trust approvals received
Following the approval of the merger in Germany by the Federal Cartel
Office and in Austria by the Federal Competition Authority, bwin has now also
received anti-trust approval from the relevant authorities in Romania.
Dividend
The new bwin.party depositary interests will carry a dividend entitlement
with effect from 1 January 2010. The company's dividend policy will be
determined by the new board of bwin.party digital entertainment plc over the
next few months.
Further information:
Investors:
Konrad Sveceny, Investor Relations
bwinInteractive Entertainment AG
Borsegasse 11, 1010 Vienna, Austria
Tel: +43(0)50-858-20017
E-mail: investorrelations@bwin.org
http://www.bwin.org
Press:
Matthias Winkler, Chief Communications Officer
bwinInteractive Entertainment AG
Borsegasse 11, 1010 Vienna, Austria
Tel: +43(0)50-858-20067
E-mail: press@bwin.org
http://www.bwin.org
Source: bwin Interactive Entertainment AG
Further information: Investors: Konrad Sveceny, Investor Relations, bwinInteractive Entertainment AG, Borsegasse 11, 1010 Vienna, Austria, Tel: +43(0)50-858-20017, E-mail: investorrelations@bwin.org; Press: Matthias Winkler, Chief Communications Officer, bwinInteractive Entertainment AG, Borsegasse 11, 1010 Vienna, Austria, Tel: +43(0)50-858-20067, E-mail: press@bwin.org