evoke shareholders will receive new Bally’s Intralot shares under the proposed scheme of arrangement
Bally’s Intralot’s proposed acquisition of London-listed gaming operator evoke was approved by evoke’s shareholders on Monday.
The proposed acquisition is being effected by means of a scheme of arrangement between evoke and evoke shareholders under Part VIII of the Gibraltar Companies Act 2014, with a court meeting on Monday approving the transaction with the support of 97 per cent of shareholders.
Monday’s general meeting of shareholders also saw overwhelming support for the transaction with 99.6 per cent of votes going in favour of the acquisition.
Under the scheme of arrangement, evoke shareholders will receive 0.537 new Intralot shares for each evoke share, with evoke shareholders having the option to receive cash for all or some of their shares.
The maximum cash component of the transaction is capped at £117.1 million.
If all evoke shareholders elect to receive new Intralot shares, evoke shareholders will own approximately 11.5 per cent of the enlarged group, which will continue to trade on Euronext Athens under the ticker symbol BYLOT.
Following Monday’s approval by evoke shareholders, Bally’s Intralot will hold a general meeting on 18 September to seek shareholder approval for the transaction.
Shares in evoke plc. (LSE:EVOK) closed at 46.15 pence per share in London Monday.
Shares in Bally’s Intralot (ATH:BYLOT) closed 2.21 per cent lower at €1.15 per share on Monday after the company released its financial results for the second quarter.