Online gaming operator bwin.party has welcomed the decision by shareholders Emerald Bay Limited and Stinson Ridge Limited to place up to 50 million shares in the company.
In a statement confirming the share movement, bwin.party said that although its board was not party to placing arrangements, it is consistent with the Trustees’ obligations to sell down their holdings before October of this year.
This is consistent with the terms of the divestiture arrangements entered into by both Emerald and Stinson.
Philip Yea, chairman of bwin.party, said that he welcomes the news of the placing, but confirmed it will have no impact on the ongoing negotiations regarding the potential sale of part or all of the business.
“We welcome today’s news regarding the placing by the Trustees as it provides clarity for the market regarding a significant block of shares that were due to be sold during 2015,” Yea said.
“The sale has no bearing on the board’s discussions regarding proposals received from third parties that are continuing and whilst there can be no guarantee that these discussions will result in any transaction taking place, the board will make further announcements in due course.”
source : www.igamingbusiness.com
