Sports Direct International (SPD); offer update regarding GAME Digital

Published on 09-07-2019 07:27:27
Author Sparks Team

On 8 July 2019, at 1:00pm, Sports Direct received acceptance of its previously announced offer for 15.82% of GAME’s existing share capital. Sports Direct already holds around 38.49% of GAME’s share capital.

The acceptances include those received in respect of 4,000,000 GAME Shares (representing about 2.31% of GAMES’s entire issued share capital), which were subject to a letter of intent procured by Sports Direct from Marlborough UK Nano-Cap Growth Fund.

Given that Sports Direct holds around 38.49% of GAME’s entire issued share capital, as of 8 July 2019, Sports Direct received valid acceptances on about 54.31% of GAME’s entire issued share capital.

The Offer is conditional upon Sports Direct securing valid acceptances which would result in Sports Direct holding GAME Shares carrying over 50% of the voting rights then normally exercisable at a general meeting.

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