Casino operator Olympic Entertainment Group has initiated proceedings for delisting its shares from the main market of the Warsaw Stock Exchange.
According to Polish law, delisting of a company from a regulated market is subject to launching a tender offer in respect of the shares of the company acquired from the respective regulated market by the majority shareholder of the company.
So the largest shareholder of OEG, OÜ HansaAssets, a company controlled by OEG chairman Armin Karu, launched a tender offer today. The tender offer is directed only to shareholders who have acquired their shares from the Warsaw Stock Exchange.
The tender offer is structured in a way that the offer is launched by OÜ HansaAssets but the shares are acquired by OEG. Such a set-up has been chosen in order to ensure equal treatment of all the shareholders of OEG.
The funds used by OEG to acquire the shares will amount to approximately €0.2m. The delisting of the shares from the Warsaw Stock Exchange will not influence the listing and trading of OEG shares in the main list of the Nasdaq Tallinn Stock Exchange.
