GVC Holdings shareholders have approved the proposal to relocate the company’s tax residence to the UK.

The adoption of new articles of association of the company to facilitate the relocation, from the Isle of Man, means that the Ladbrokes Coral owner can now base full board and shareholder meetings in the UK to increase efficiency and reduce costs.

A total of 99.98 per cent of proxy votes cast in respect of the EGM special resolution were in favour of the relocation.