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Entain announces a recommended cash offer to the shareholders of Enlabs AB
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This announcement is not an offer, whether directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden who wish to accept the Offer (as defined below) must make inquiries concerning applicable legislation and possible tax consequences. Shareholders should refer to the offer restrictions included in the section titled Important information at the end of this announcement and in the offer document which will be published shortly before the commencement of the acceptance period under the Offer. Shareholders in the United States should also refer to the section titled Special notice to shareholders in the United States at the end of this announceme
· This values Enlabs at around SEK 2.80 billion (approximately £250 million)
(1) · The offer represents a premium of approximately 15.6% and 42.3% compared to the volume-weighted average price of an Enlabs share during the last 90 and 180 trading days prior to the announcement of the offer, respectively · The offer has been recommended by Enlabs board, and shareholders holding in aggregate approximately 42.2% of the total number of Enlabs shares have undertaken to accept the offer · Enlabs is an established and leading gaming company operating in fast-growing markets across the Baltics, with further growth opportunities across Eastern Europe and the Nordics · Based on analyst consensus
(2) for the year to 31 December 2021 Enlabs is estimated to generate net gaming revenue of €89.5m (c.£80.5 million) and EBITDA of €23.5m (c.£21.1 million)
Entain plc (LSE: ENT), the global sports-betting and gaming group, formerly known as GVC Holdings PLC, confirms that the appointment of Robert Hoskin, Entain s Chief Governance Officer, to the Company s board of directors will take effect from 1 January 2021. This follows the announcement on 22 October 2020 setting out his proposed appointment. The Company also announces the departure of Jane Anscombe as Non-Executive Director, with effect from 31 December 2020, to pursue other opportunities. Jane joined the Board in June 2017 and has chaired the Remuneration Committee and served on the Nomination, CSR and Audit Committees. Jane s successor as Remuneration Committee Chair will be announced in due course.