Shareholders approve bwin, PartyGaming merger
28 January 2011
VIENNA, AUstria -- (PRESS RELEASE) -- bwin Interactive Entertainment AG (bwin) and PartyGaming Plc (PartyGaming) shareholders have today approved the merger of their two companies. These approvals in both extraordinary general meetings (EGM) were a condition for carrying out the proposed merger.
Commenting on the results of today´s EGMs, Jim Ryan and Norbert Teufelberger, the proposed co-CEOs of bwin.party digital entertainment plc, said: "Today's shareholder meetings were a key milestone in the overall process, putting the transformational merger of our two companies well on the way to completion. We are delighted that both sets of shareholders have overwhelmingly recognised the strategic, operational and financial benefits of creating the world's largest listed online gaming company."
bwin EGM details
A total of 335 shareholders attended bwin's EGM, representing a total of 18.1 million shares. The results of voting at the general meeting in Vienna have been published at www.bwin.org. The legal measures specified by the merger plan can now be implemented during the next few weeks. bwin shareholders will receive 12.23 bwin.party shares denominated in GBP for each bwin share. This share exchange will be carried out automatically and free of charge for bwin shareholders.
PartyGaming EGM details
At PartyGaming's EGM held in Gibraltar today, all 9 resolutions relating to the approval of the merger with bwin and associated matters, including the change of name from PartyGaming Plc to bwin.party digital entertainment plc, were approved by PartyGaming shareholders.