Pollard Equities Limited to Acquire NYX Gaming Securities
Pollard Equities Limited, a company with an approximate 73.5% ownership interest in Pollard Banknote Limited has revealed that it has taken possession of four million warrants in order to acquire the NYX Gaming Group Limited shares worth CDN$0.03 per warrant, for an aggregate price of CDN$120,000, purchased on November 28th.
The major consequence of the transaction will be Equities raising its interest in the outstanding ordinary shares of NYX Gaming by 3.2%.
Apart from the warrants, Pollard Equities Limited has 8,621,300 ordinary shares. Before the acquisition of the warrants, Equities approximately had 8% of the outstanding ordinary shares. However, after the purchase of the warrants, Pollard Equities may possess around 11.2% of the outstanding ordinary shares, should they include the warrants exercised in the outstanding ordinary shares.
NYX Gaming is also about to forge an agreement with Scientific Games, whereby Scientific Games should purchase all the ordinary shares outstanding, at a price of CDN$2.40 per share.
A substantial shareholder of NYX Gaming, William Hill Steeplechase Limited has stated that it has developed a scheme to convert some of the preferred NYX shares, so that it will have around 32% of the outstanding ordinary shares. However, NYX is said to be defying that conversion.
Pollard Equities and Banknote do not have any commitments or agreements with William Hill, Scientific Games, or NYX Gaming related to the warrants and ordinary shares they acquired.
Pollard Equities Limited aims to supervise the arrangement that is proposed and initiated by Scientific Games, as well as continuously monitor the investment in NYX. Additionally, Equities might participate in the discussions with any of the parties interested in the deal.
In the future, Pollard Equities may decide to sell or purchase securities, or take part in some other decisions pertinent to NYX Gaming.