Stockholm, Sweden (26 October 2009). Entraction Holding AB's Extra General
Meeting of shareholders was summoned today. The EGM unanimously decided to
approve the Board's proposal regarding acquisition of outstanding warrants from
the Global Betting Exchange Group.
In September Entraction and Global Betting Exchange agreed that Entraction
should acquire all outstanding warrants at a price of 2.25 million euro. The
acquisition was dependent on resolution by the general meeting of shareholders
and will now be executed not later than 30 October 2009. The acquisition
effects the cash flow, but not the result as the acquisition cost is made
against equity.
The Global Betting Exchange Group had the right to subscribe for 2,500,000
class B shares in Entraction for a price of 21 SEK pro share. Had Global
Betting Exchange Group exercised the warrants it would have resulted in a
dilution of 19.4% of capital and 15.5% of votes.
For more information, please contact:
Pia Rosin, Corporate Communications Director, +46 70 753 22 46
Peter Åström CEO, +46 8 564 884 60
About Entraction
Entraction is an international group within the digital gaming industry.
Entraction Holding works with general issues relating to strategy and business
development, as well as the provision of financing and skills within the Group.
The company continuously evaluates
business opportunities that can strengthen and develop the Group.
Entraction Solutions offers complete software systems for online gaming and
operates one of the largest open poker networks in the world. The company
offers partners software for poker, betting, casino and bingo, as well as
peripheral services, such as web design, gaming licenses, operation, payment
solutions, promotional tools and 24-hour end-user support. The poker network is
operated by subsidiaries in Malta that are licensed to market and conduct
proprietary gaming activities and to deliver gaming services to partners in the
poker network.
Entraction Holding AB is listed on First North Premier and has approx. 7.800
shareholders. The company's Certified Advisor is Remium AB. Please, visit
www.entraction.com for more information.
