Amaya Gaming planning purchase of CryptoLogic stock

Montreal-based Amaya Gaming Group said it is planning a compulsory purchase of the remaining outstanding share capital in online casino games developer CryptoLogic. The server and network-based gaming specialist stated that it intends to ‘exercise its rights under Part XVIII of the Companies (Guernsey) Law 2008’ and acquire compulsorily the remaining CryptoLogic shares covered by its original offer that have not yet been handed over.

“As a result of Amaya receiving acceptances in respect of, or otherwise acquiring 90 percent in value of the shares affected, Amaya will as soon as practicable send notices pursuant to Part XVIII of the Companies (Guernsey) Law 2008 to any shareholder who has not accepted the offer to acquire compulsorily all outstanding CryptoLogic shares on the same terms as originally available under the offer,” a statement from Amaya read.

The Canadian firm said that it now intends to additionally have the shares de-listed from the Toronto Stock Exchange ‘subject to fulfilling the required conditions'.