Gibraltar Court sanctions PartyGaming bwin merger

Yesterday’s development follows the announcement by bwin on 15 March that the merger had formally been entered into the companies’ registry in Vienna, Austria by the Vienna Commercial Court.  

Following the above developments, the approval of the Merger by PartyGaming and bwin shareholders on 28 January 2011 and the approval of the Merger by various national anti-trust and gaming regulatory authorities, there are no further conditions precedent remaining to be satisfied as part of the merger process save for the matters set out below which will be effected on completion.

Completion of the Merger is now expected to take place on the effective date, when the company’s name will change to “bwin.party digital entertainment plc”.

The company’s ordinary shares of 0.015 pence each are expected to be de-listed and then re-admitted to the premium segment of the official list and commence dealing on the London Stock Exchange’s main market at 8.00 a.m. (London time) on the effective date.

New shares are expected to be issued to the bwin shareholders on the effective date, when CREST accounts are also expected to be credited with dematerialised depositary interests in respect of the company’s Shares.