GVC Holdings has confirmed that it has cancelled contingent value right payments to shareholders.
The decision on the CVR instrument was linked to the decision by the UK government to cut to £2 the maximum stake on FOBTs.
Late last year, GVC Holdings stated the CVR instrument required a 10-day period to elapse following the enactment of the law, before the formal valuation process could take place.
The cancellation was announced this morning, as expected. The move saves GVC a payout of around £676m to shareholders.
