Cryptologic Acquisition by Canadian Amaya Gaming is Nearing

Written by Alex N. on 2012-02-25 at 00:39
Canadian gambling laws - GamingZion
Top managers of Cryptologic and Amaya Gaming work closely together to finalize the acquisition offer. The buy-out was announced in the beginning of this month, read more in our Canadian Gambling Group to Acquire Online Software Firm Cryptologic article.

According to Canada gambling news Cryptologic managers recommend the deal to all shareholders with the share price fixed at $2.535 per share.

Both companies operate in full compliance with Canadian gambling laws and announced that the offer document from 17 February 2012 is currently being posted to shareholders of Cryptologic. The document includes the terms and conditions of the Amaya offer as well as the acceptance procedure.

Other important parts of the document include the Form of Acceptance, and the Directors’ Circular of the board of Cryptologic. The document is intended for information purposes only, and targets exchangeable shareholders of Cryptologic indirect subsidiary, Cryptologic Exchange Corporation, and for holders of Cryptologic stock options.

The offer from Amaya will remain open for acceptance until 3:00PM, GMT on 28 March 2012. The offer is conditional upon valid acceptances, received from more than 50 percent in value of the issued share capital of Cryptologic and also more than 50 percent of the voting rights in regards to the issued share capital of Cryptologic. The requirements are normally being exercised at general shareholder meetings.

All shareholders are welcome to complete the formalities outlined in the documents, which they received. The completion of the deal hugely depends on them.

Both companies made copies of the Offer Document, the Form of Acceptance, the Directors' Circular and other important offer documents available on their websites.

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