bwin.party suspends share trading as GVC scheme approved

bwin.party has announced that it has suspended trading shares on the Official List of the UK Listing Authority and the London Stock Exchange’s main market for listed securities after securing approval for the scheme of arrangement regarding its acquisition by GVC.

The online gaming operator confirmed in a statement today (Friday) that the scheme had been sanctioned by the Scheme Court Hearing.

In response, bwin.party on Thursday suspended trading of its shares, with the firm’s depositary interests in CREST also disabled.

bwin.party suspended trading in accordance with its application to the UK Listing Authority, announced earlier this month, and is effected in connection with the scheme.

The operator expects cancellation of the listing and trading of the bwin.party shares to take place on February 2.

In a statement, bwin.party said: “Admission of the issued and to be issued GVC shares to the Official List (Standard Segment) and to trading on the Main Market of the London Stock Exchange is expected to take place at or around 8.00 a.m. on February 2.

“Except as otherwise defined herein, capitalised terms used but not defined in this announcement have the same meanings as given to them in the scheme document dated November 13, 2015, sent or made available to bwin.party shareholders.”

Related article: GVC reveals revenue growth ahead of bwin.party merger