Sarossa subscribes for £2M of new GVC shares in connection with deal

A follow-up on LeapRate’s story regarding the planned acquisition of Digital Entertainment Plc (LON:BPTY), owner of British CFD and spread betting broker InterTrader, by GVC Holdings PLC (LON:GVC)…

GVC aims to finance the deal, which values’s issued share capital at £1.116 billion, via €400.0 million (approximately £291.3 million) of senior secured debt provided by Cerberus, as well as via approximately £150.0 million (approximately €206.0 million) set to come from a placing of new GVC Shares to institutional investors, and a subscription of new GVC Shares by certain investors, under a fundraising at a subscription price of 422 pence per new GVC Share.

gvc_bwin_offerToday’s news concerns the fundraising via subscription for new GVC shares, as investment holding and management company Sarossa PLC (LON:SRC) has entered into an agreement with GVC to subscribe for 473,934 new GVC Shares at 422 pence per share.

The commitment is worth about £2.0 million. These 473,934 new GVC Shares would represent approximately 0.16% of GVC’s enlarged group issued ordinary share capital assuming full acceptance of the Offer.

Sarossa already has a holding of 343,053 GVC Shares equal to 0.56% of GVC’s existing issued ordinary share capital. After the subscription, Sarossa would hold a total of 816,987 GVC Shares, or 28%, assuming full acceptance of the Offer.

To view the official LSE filing, click here.

Related News


Sarossa subscribes for £2M of new GVC shares in connection with deal


Send this to a friend

Subscribe to LeapRate
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: