Bwin.party yesterday posted a circular to shareholders setting out the details of an intra-group reorganisation.
The reorganisation is for nil consideration of the share capital of Websports Entertainment Marketing Services and bwin.party services (Austria) from the company to ElectraWorks, a wholly-owned indirect subsidiary of the company.
It will be effected by way of a scheme of arrangement, pursuant to the Gibraltar Companies Act. Completion of the scheme is conditional upon approval by the requisite majority of shareholders of the company.
