CryptoLogic to run strategic review
Cryptologic has appointed Deloitte Corporate Finance as financial adviser to assist it with the strategic review. This is generally the type of thing done before a major move or sale.
The GPWA has a press release about the news:
Quote:
DUBLIN, Ireland -- (PRESS RELEASE) -- The Board of CryptoLogic Limited, a developer of branded online betting games and internet casino software, announces that it has appointed Deloitte Corporate Finance as financial adviser to assist it with a strategic review of the Company.
This review is at an early stage and will consider a number of strategic options, including the possibility of an offer being made for the Company or a disposal of part of the business. The Board wishes to stress that there can be no certainty that any offer will be forthcoming.
The Board will update shareholders as soon as it is appropriate to do so.
Pursuant to Rule 2.10 of the City Code on Takeovers and Mergers, CryptoLogic confirms that, as at the close of business on 24 March 2011, the issued share capital consisted of 12,907,120 common shares of no par value (the "Common Shares"), of which no shares are held in treasury. The ISIN reference number for these securities is GG00B1W7FC20. The Common Shares represent 93.4% of the entire voting rights of the Company. The remaining 6.6% are attributable to a Special Voting Share representing shares issued by CryptoLogic Exchange Corporation, an indirect subsidiary of CryptoLogic (the "CEC Shares"). The holders of CEC Shares have the same voting and dividend rights as the holders of Common Shares and can be exchanged for an equivalent number of Common Shares at any time. There are 911,931 CEC Shares of no par value, of which no shares are held in treasury. The ISIN reference number of the CEC Shares is CA2290581024.
Accordingly, the total number of shares carrying voting rights is 13,819,051.
