Cash exit rights exercised for less that 20 percent of the share capital
GTECH and IGT to continue to work towards completing transaction
2014-12-02
Reading time 35 seg
(US).- GTECH announced that the period during which GTECH shareholders could exercise statutory cash exit rights with respect to the pending cross-border merger of GTECH with and into Georgia Worldwide ended on November 27, 2014. Based on the communications received from the custodians, GTECH believes that cash exit rights have been exercised for less than 20 percent of the company shares outstanding as of July 15, 2014, when the agreement for the acquisition of IGT was executed.
GTECH is completing the matching of received cash exit right notifications with the relevant communications from custodians and currently expects to announce the final results by December 12, 2014.
Pursuant to the Merger Agreement, GTECH would have been permitted to terminate the Merger Agreement if cash exit rights had been exercised by shareholders representing 20% or more of GTECH’s 173.779.311 outstanding shares as of the date of the Merger Agreement.
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