Shareholders of Playtech will have their say on the recommended £459.6 million acquisition of Plus500, after the deal got the approval of broker’s shareholders earlier this month.
Playtech shareholders to vote on Plus500 deal on August 19th
Another important step towards the finalization of the deal between Playtech PLC (LON:PTEC) and Plus500 Ltd (LON:PLUS) is set to be made on August 19, 2015, as Playtech’s shareholders are poised to vote on the proposed £459.6 million acquisition of the CFD broker.
The deal was already approved by Plus500 shareholders at a meeting on July 16, 2015.
Playtech’s notice of the General Meeting says it is to be held at 11:00 a.m. on 19 August 2015 at The Sefton Hotel, Harris Promenade, Douglas, Isle of Man IM1 2RW.
Under the terms of the Plus500 acquisition proposal, unveiled on June 1, 2015, Brighttech Investments S.A., a Playtech subsidiary, will acquire the entire issued and to be issued ordinary share capital of Plus500.
Plus500 shareholders will be entitled to receive 400 pence per Plus500 share in cash. The Acquisition values the entire issued ordinary share capital of Plus500 at approximately £459.6 million.
The parties currently expect that the deal will be completed by the end of September 2015, subject to regulatory approval.
To view the official filing with the LSE, click here.
David Hobart
David Hobart is Managing Director of FinAffiliates Limited, the UK media group behind LeapRate, AskTraders and a network of more than 30 financial and trading titles published across several languages and regulated markets. He writes on the commercial side of the industry: broker marketing, client acquisition, affiliate strategy and the editorial standards that hold it together. He is based in North Norfolk.
