Following the court approval of the proposed merger of online betting operators Paddy Power plc and Betfair Group plc, the deal was today completed.
As a result, there is a new combined entity named Paddy Power Betfair plc, operating from https://www.paddypowerbetfair.com.
Trading in the Betfair Shares on the London Stock Exchange’s market for listed securities and the listing of the Betfair Shares on the Official List of the FCA were cancelled with effect from 8:00 a.m. today.
The New Paddy Power Betfair Shares issued to Betfair Shareholders in exchange for their Betfair Shares have been admitted to:
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listing on the premium listing segment of the Official List of the Financial Conduct Authority and to the secondary listing segment of the Irish Stock Exchange as an overseas company;
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trading on the London Stock Exchange’s main market for listed securities and the Irish Stock Exchange’s Main Securities Market.
There are directorship changes at Paddy Power Betfair. Cormac McCarthy, Tom Grace and Ulric Jerome resign as Directors.
The company announces the following appointments with immediate effect:
- Breon Corcoran, as Chief Executive Officer;
- Alex Gersh, as Chief Financial Officer;
- Ian Dyson, as a non-executive director and senior independent director;
- Zillah Byng-Thorne (formerly Zillah Byng-Maddick), as a non-executive director;
- Peter Jackson, as a non-executive director;
- Peter Rigby, as a non-executive director.
The announcement about the closure of the deal can be viewed by clicking here.
The announcement about the directorship changes can be viewed by clicking here.