Sportingbet has announced that the resolutions to approve the schemes to acquire Centrebet have been passed without amendment.
The company announced on May 26 that a recommended proposal to acquire the entire issued and to be issued share capital of Australian Stock Exchange-listed Centrebet by way of two schemes of arrangement had been made under Australian law. The schemes remain conditional upon the approval of the Federal Court of Australia at the second court hearing on August 22 and the satisfaction or waiver of certain conditions.
Provided that the outstanding conditions are satisfied or waived within the anticipated timetable, it is expected that the schemes will become effective on August 23 and will be implemented on or about August 31 and that the consideration will be dispatched to the Centrebet shareholders on or about September 1.
Sportingbet announced on May 11 that it was in advanced discussions with Centrebet, stating that an acquisition would accelerate its strategy of geographic diversification and increasing its exposure to regulated markets.
