Enlabs has increased its stake in Global Gaming from 66.7% to 95.8% at the deadline of its acceptance period for its bid for the Ninja Casino operator.
The acceptance period for the Offer has ended on November 2 and Enlabs has decided not to extend the acceptance period. The aggregation of acceptances has now been completed and as of November 2, the Offer had been accepted by shareholders in Global Gaming corresponding to a total holding of 10,659,142 shares, corresponding to approximately 26.1% of the total number of shares and votes in Global Gaming.
Enlabs declared the Offer unconditional on October 8, 2020. All conditions for the Offer have been met and Enlabs will thus complete the Offer and acquire the shares submitted in the Offer.
At the time of the announcement of the Offer, Enlabs ownership in Global Gaming amounted to 27,266,114 shares. During the acceptance period, Enlabs has also acquired 1,216,469 shares in Global Gaming outside the Offer, corresponding to approximately 3% of the total amount of shares and votes in Global Gaming. No such acquisitions have been made at a consideration that exceeds the consideration in the Offer.
In total, Enlabs thus holds a total of 39,141,725 shares in Global Gaming, corresponding to approximately 95.8% of the total number of shares and votes in Global Gaming. Enlabs does not hold any other financial instruments that give Enlabs a financial exposure corresponding to a holding of shares in Global Gaming.
To the shareholders who have accepted the Offer during the acceptance period, payment of the cash consideration is expected to begin around November 9 and payment of the share consideration is expected to begin around December 1.
Enlabs intends to request compulsory redemption in accordance with the rules in the Swedish Companies Act in order to acquire the remaining outstanding shares in Global Gaming and promote a delisting of Global Gaming’s shares from Nasdaq First North Growth Market Stockholm.