Pollard Equities set to increase stake in NYX
Pollard Equities has purchased four million warrants to acquire ordinary shares of NYX Gaming Group in a move that could increase its stake in the company.
Under the deal, each warrant will cost C$0.03, with the aggregate purchase price amounting to C$120,000 (€79,000/US$93,700).
Equities said if it were to exercise all of the warrants it owns, the transaction would increase its interest in the outstanding ordinary shares of NYX by 3.2%.
In addition to the new warrants, Equities has 8,621,300 ordinary shares in NYX and, prior to the purchase, Equities owned approximately 8% of the outstanding ordinary shares in the company.
Should Equities exercise the new warrants, it would own 11.2% of outstanding ordinary shares in NYX, when including the warrants exercised in the ordinary shares outstanding.
Equities has also entered into an agreement with Pollard Banknote, a company that it holds a 73.5% ownership interest in, giving it the option to purchase the ordinary shares and warrants owned by Equities, at purchase cost.
The move comes after Scientific Games entered into a definitive agreement to buy the entire NYX business for approximately C$775m, purchasing all of the outstanding ordinary shares at C$2.40 each.
Equities noted that “neither it, nor Banknote has any agreements, commitments or understandings with NYX, William Hill or Scientific Games in connection with the ordinary shares and warrants it has acquired”.
Earlier this week, Scientific Games also increased its overall stake in NYX with the acquisition of shares from The Stars Group.
Under the securities purchase deal, the Stars Interactive subsidiary has agreed to sell all of its securities of NYX, including 5,617,716 ordinary shares, 40,000 preferred shares and 1,363,636 Ordinary Share purchase warrants.
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