Zeal Network has announced that co-founder and shareholder Marc Peters has declared his support for the planned transaction with Lotto24.

In a letter to the company today, Peters confirmed his firm intention to vote in favour of the resolutions in the upcoming general meeting of Zeal on Friday.

Peters said: "Having reviewed the proposed transaction as well as the recent changes in the regulatory environment in detail, I have come to the conclusion that both the business model change as well as the proposed transaction with Lotto24 are the right way forward for the company."