NetplayTV shareholders approve Betsson acquisition
News on 24 Mar 2017
News on 24 Mar 2017
Gambling group Betsson has issued a statement on its proposed acquisition of NetPlayTV as announced in February this year (see previous reports), advising that NetPlay shareholders have approved the deal, and setting out a timetable for completion.
The offer is still subject to the High Court of Justice sanctioning the offer, and certain other conditions as set out in the offer document. The offer is to be implemented by means of a court-approved scheme of arrangement, which is regulated, by the UK Companies Act and the UK Takeover Code.
The expected timetable for the remaining steps in the offer process are:
29 March 2017 — Court hearing to sanction the scheme of arrangement
31 March 2017 — The scheme of arrangement becomes effective (meaning that Betsson becomes the owner of all shares in NetPlay)
3 April 2017 — Trading of NetPlay shares on London’s AIM exchange to be cancelled
