bwin.party Digital Entertainment Plc (LON:BPTY), which is about to be acquired by GVC Holdings PLC (LON:GVC), announced today that Daniel Silvers, a Non-Executive Director, is stepping down from the Board with immediate effect.
Mr Silvers was appointed to bwin.party’s Board in May 2014 as nominee on behalf of one of the Company’s shareholders, SpringOwl Gibraltar Partners B Limited. Earlier this year, Mr Silvers unveiled his decision to leave SpringOwl Asset Management LLC to launch Matthews Lane Capital Partners LLC. Today’s announcement reflects these plans.
Jason Ader, CEO of SpringOwl Asset Management LLC, said:
“We remain strong supporters of the bwin.party Board and of the pending transaction with GVC Holdings PLC. Given the current timetable, we are not currently nominating a successor for appointment to the bwin.party Board ahead of the completion of the recommended offer from GVC that is expected to take place in early 2016.”
Commenting on today’s announcement, Philip Yea, Chairman said:
“Daniel has been a valued and constructive contributor to the Board’s deliberations and I want to thank him for his significant contribution. We wish him well in his future endeavours.”
Daniel Silvers said:
“I have enjoyed working with the bwin.party Board and am confident with the Company’s current course, including the pending transaction with GVC. I wish bwin.party and each of my colleagues on the Board, every success for the future.”
To view the official announcement from bwin.party, click here.