Kindred’s 32Red acquisition moves ahead

Kindred Group’s acquisition of 32Red is moving along with the company confirming that all of the Conditions to the Offer have now been satisfied or waived, now declaring the offer unconditional in all respects.

As of June 5, 2017, Kindred said it had received valid acceptances of the offer, or had acquired, 83,326,813 32Red Shares, representing around 97.6 percent of the issued share capital of 32Red.

As the deal progresses, 32Red will apply for the cancellation of admission to trading of 32Red Shares on AIM with trading ending July 7, 2017. In addition, Kindred will also begin the process of reregistering the company as a private limited company.

32Red has advised unresponsive or non-assenting shareholders that the delisting will significantly reduce the liquidity and marketability of any 32Red Shares not acquired by Kindred, recommending shareholders accept Kindred’s offer as soon as possible.

Kindred will ultimately exercise its rights under the Gibraltar Companies Act 1930 and 2014 to acquire the remaining 32Red shares compulsorily, on the same terms as the Offer.

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