ZEAL Network SE: More than 91% of Lotto24 shareholders accept ZEAL offer during regular acceptance period
Apr 15, 2019 1:09 PM
DGAP-News: ZEAL Network SE / Key word(s): Offer
More than 91% of Lotto24 shareholders accept ZEAL offer during regular acceptance period
ZEAL Network SE ("ZEAL") today announced that approximately 91.8% of Lotto24 AG ("Lotto24") shareholders have accepted ZEAL's all-share voluntary takeover offer and tendered their shares during the regular acceptance period, which ended on 10 April 2019.
As all offer conditions have been satisfied, shareholders can take advantage of an additional two-week acceptance period from 16 April 2019 (0:00 CEST) until 29 April 2019 (24:00 CEST) to accept the offer for their remaining Lotto24 shares. Lotto24 shareholders will receive one new ZEAL share in exchange for 1.604 shares of Lotto24. The offer document is available at www.zeal-offer.com.
Shareholders in the combined group will be able to benefit from increased efficiencies between both companies, significant cost synergies at ZEAL due to the change of its core business model, and any potential future growth.
Dr Helmut Becker, Chief Executive, ZEAL, said: "We are pleased that the vast majority of Lotto24 shareholders has accepted our offer and bought into our strategic vision. We look forward to welcoming them as new ZEAL shareholders. By reuniting with Lotto24 and transforming our core German business to digital lottery brokerage, we are creating a strong platform for ZEAL's sustainable and accelerated growth. We invite all remaining Lotto24 shareholders to also tender their shares and become part of our combined future success. ZEAL and Lotto24 have already made strong progress on preparing the integration and are ready to execute on the plan."
Lutz Golsch, FTI Consulting
|Company:||ZEAL Network SE|
|5th Floor One New Change|
|EC4M 9AF London|
|Phone:||+44 (0)203 739-7000|
|Fax:||+44 (0)203 739-7099|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||799765|
|End of News||DGAP News Service|