The group extends the deadline until June 8 for Bally's Intralot to announce whether it will present a firm offer for 100% of the company.
evoke plc has announced the extension of the deadline for Bally’s Intralot S.A. to communicate whether it will make a firm offer for the entirety of the company's issued and to-be-issued share capital. The proposed transaction contemplates a price of 50 pence per share, according to the proposal initially announced last April 20.
The company explained that discussions between both parties continue constructively and that the proposal is expected to take the form of an all-share combination, with a partial cash alternative.
Following the request from Bally’s Intralot and with the agreement of the evoke board, the new deadline has been set until 5:00 p.m. London time on June 8, 2026. Before that date, Bally’s Intralot must announce a firm intention to present an offer or communicate that it does not intend to do so. This revised deadline could be extended again with evoke's consent.
evoke stresses that, should any firm offer materialize, it would be subject to customary conditions and approvals. Bally’s Intralot also reserves the right to vary the terms of an eventual offer, including the price, the form and combination of the consideration, and the structure of the transaction.
Furthermore, the company reminds stakeholders that there is no certainty that an offer will ultimately be presented, nor regarding the terms on which it might be formulated. The statement has been made with the consent of the Bally’s Intralot board, and the person responsible for organizing its publication on behalf of evoke is Fredrik Ekdahl.
The announcement also specifies that the City Code on Takeovers and Mergers does not apply to evoke due to its registration in Gibraltar. Therefore, an eventual takeover bid would not be regulated by the UK Panel on Takeovers and Mergers, although the company's articles of association contain certain provisions that attempt to apply the Code's rules to a transaction of this type.
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