Playtech acquires remaining Snaitech ‘squeeze out’ shares

Playtech plc announced Thursday that following its June 22 launch of a mandatory takeover bid for the remaining shares of Italian gambling group Snaitech, it has reached the end of the acceptance period for the Mandatory Takeover Offer, and including market purchases to date, now owns approximately 96.5 percent of the total issued share capital of Snaitech.

As a result of the above, Pluto (Italia) S.p.A., a wholly-owned subsidiary of Playtech, has announced that it is initiating the necessary steps for the transfer of the remaining approximately 3.5 percent minority shareholdings in Snaitech it does not own under article 111 of Italian Financial Services Act.

The shareholders of Snaitech that are subject to this Squeeze Out provision will receive cash consideration equal to 2.19 Euros per share as noted in the Mandatory Takeover Offer.

It is expected that Snaitech’s shares will be suspended from trading on 1 August 2018 and 2 August 2018 and that, following completion of the Squeeze Out, will be de-listed from Mercato Telematico Azionario, organised and managed by Borsa Italiana, on 3 August 2018.

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