The proposed £459.6 million acquisition got the backing of 100% of the votes cast at today’s Extraordinary General Meeting of Playtech shareholders.
Playtech shareholders unanimously approve Plus500 deal
The completion of the deal between Playtech PLC (LON:PTEC) and Plus500 Ltd (LON:PLUS) is one step closer, after Playtech shareholders today approved unanimously the proposed £459.6 million acquisition of the CFD broker.
At today’s Extraordinary General Meeting, 100% of the votes were in favor of the acquisition.
The deal was already approved by Plus500 shareholders at a meeting on July 16, 2015.
Under the terms of the Plus500 acquisition proposal, announced on June 1, 2015, Brighttech Investments S.A., a Playtech subsidiary, will acquire the entire issued and to be issued ordinary share capital of Plus500.
Plus500 shareholders are entitled to receive 400 pence per Plus500 share in cash. The Acquisition proposal values the entire issued ordinary share capital of Plus500 at approximately £459.6 million.
Following today’s vote, the completion of the acquisition remains subject to certain conditions, including regulatory approvals, but is expected to complete no later than September 30, 2015.
To view the official announcement about the vote, click here.
David Hobart
David Hobart is Managing Director of FinAffiliates Limited, the UK media group behind LeapRate, AskTraders and a network of more than 30 financial and trading titles published across several languages and regulated markets. He writes on the commercial side of the industry: broker marketing, client acquisition, affiliate strategy and the editorial standards that hold it together. He is based in North Norfolk.
