Former Amaya CEO Continues Share Sale with another $200M Batch

Publish: 31.03.2017

Former CEO of the Canada-based gaming company Amaya Inc. David Baazov has sold another huge chunk of his shares reducing his shareholding to just 3.8%.

New Sale

Baazov has disposed of 12 million shares over the past couple of days at a target price of C$22.31, pushing the amount up to total of C$267.7 million (US $200.7 million).

Former Amaya CEO had already sold off 7 million company shares earlier this month, netting a whopping C$133 million which means that Baazov had a quite significant boost to his bank account in just a month’s time – reaching nearly US $300 million.

David Baazov was in possession of 24.6 million shares at the start of March, but the total sum dropped to 5.6 million, which represents the aforementioned 3.8% of the company’s issued and outstanding common shares.

Having previously made ongoing attempts to purchase and privatise Amaya Inc. David Baazov has shifted his focus on new investments as the Canadian company did everything in their power to fend off his advances.

Baazov Moves On

The company amended its credit agreement with lenders which helped a great deal to keep Baazov at bay, whereas the former CEO didn’t waste any time of his own as he made himself a chairman of Ahaka Capital – a new private investment company.

Baazov first investment was in UVEye, which is a company from the United States which specialises in technology related to anti-terrorism.

Former Amaya CEO is bracing himself for November court appearance in relation to his ongoing insider trading charges related to the 2014 purchase of poker giants PokerStars.

Baazov and his twelve associated were accused of being involved in 23 illegal trades carried out during his six-year stay in charge of the Canadian company.