Gaming and betting provider Ladbrokes PLC (LON:LAD) has just announced the results of a General Meeting of shareholders held earlier today.
The main purpose of the meeting was for shareholders in Ladbrokes to have their say on a set of resolutions regarding a recommended offer for a merger of Ladbrokes with certain businesses of Gala Coral Group Limited (“Gala Coral”), including Coral Retail, Eurobet Retail and Gala Coral’s online businesses. The deal, initially unveiled in July this year, is set to create Ladbrokes Coral plc.
The resolutions related to the merger were duly passed, in the face of stark criticism from one of Ladbrokes’ shareholders – Dermot Desmond. Last week he published an open letter calling the merger a bad idea.
The completion of the merger still requires certain regulatory approvals, Ladbrokes said today.
A breakdown of votes cast can be viewed below:
The official announcement of the General Meeting results can be viewed by clicking here.