8th Sep 2011 17:46
8 September 2011
bwin.party digital entertainment plc
('bwin.party', the 'Company')
Posting of Circular and Notice of Court Meeting
bwin.party announces that a circular to shareholders and depositary interest holders (the 'Circular') has been posted today and a copy is available on its website, www.bwinparty.com.
The Circular sets out the details of an intra-Group reorganisation for nil consideration of the share capital of Websports Entertainment Marketing Services GmbH and bwin.party services (Austria) GmbH from the Company to ElectraWorks Limited, a wholly-owned indirect subsidiary of the Company. This reorganisation will be effected by way of a scheme of arrangement, pursuant to the Gibraltar Companies Act (the 'Scheme').
The Circular includes a notice convening a Court Meeting to be held at Regal House, 2 Queensway, Gibraltar on 6 October 2011. Completion of the Scheme is conditional upon approval by the requisite majority of shareholders of the Company as well as the sanction of the Court at the Court Hearing.
Expected timetable of principal events
Event
| Time and/or Date |
Latest time and date for receipt of the blue Form of Direction/ voting instruction via CREST
| 9.00 am (London time) on 4 October 2011
|
Latest time and date for receipt of the white Form of Proxy
| 9.00 am (London time) on 5 October 2011 |
Court Meeting
| 10.00 am (Gibraltar time) on 6 October 2011 |
Court Hearing of the petition to sanction the Scheme
| 10.00 am (Gibraltar time) on 19 October 2011 |
Scheme Effective Date | 20 October 2011 |
This summary is not intended as a substitute for reading the Circular as a whole. Shareholders and depositary interest holders are therefore recommended to read the Circular in its entirety before submitting their voting instructions. Full details of the action to be taken can be found in paragraph 9 of Part 1 of the Circular.
All defined terms are as set out in the Circular. Copies of the Circular will be available free of charge during normal business hours on any weekday at the Company's registered office address at 711 Europort, Gibraltar or by emailing [email protected] from today and shall remain available until the date of the Court Meeting.
Copies of the Circular have been submitted to the Financial Services Authority and will shortly be available for inspection through the National Storage Mechanism (http://www.hemscott.com/nsm.do).
Enquiries:Capita Registrars*
Enquiries from within the UK 0871 664 0300
Enquiries from outside the UK +44 20 8639 3399
Contact:bwin.party digital entertainment plc
Robert Hoskin
Company Secretary +350 200 78700
* Lines are open from 9.00 a.m. to 5.00 p.m. (London time) Monday to Friday (except UK public holidays). Calls to the 0871 664 0300 number cost 10 pence per minute from a BT landline. Other network providers' costs may vary. Calls to the helpline from outside the UK are charged at applicable international rates. Different charges may apply to calls made from mobile telephones. Calls may be recorded and monitored randomly for security and training purposes. The helpline cannot provide advice on the merits of the Scheme nor give any financial, legal or tax advice.
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