Plus500 says that the intended Cancellation which, subject to completion of the Merger, will take place no earlier than 7:00 a.m. on September 28, 2015.
The plans of Playtech’s subsidiary Brighttech, which will be the sole shareholder of Plus500 following the Merger, to cancel the admission of Plus500 shares to trading on AIM have been no secret at least since June 11, 2015, this year. To a great degree, this is a formal and widely expected move following an M&A deal.
Today’s update stresses that the Merger is subject to regulatory decisions and that in case it is not completed, there will be no AIM trading cancellation.
Shares in Plus500 closed at 383p on Thursday, below the 400p cash per share offer that Plus500 got from Playtech.
Chart source: Google Finance.
To view the official filing with the LSE on the planned delisting, click here.