OEG: Preparations for Merger
Posted on 02.05.2018
In the notice and prospectus for voluntary public takeover offer (the “Offer”) made for the acquisition of shares of Olympic Entertainment Group AS („OEG“), published on 04.04.2018, Odyssey Europe AS (the „Bidder“) has mentioned in the description of future plans, among others, the intention to conduct the merger of OEG as transferring entity into the Bidder as assuming entity.
As of 02.05.2018, all the closing conditions of the Offer have been met. Therefore, the Bidder will acquire on the value date of the Offer, i.e. on 10.05.2018, the majority shareholding in OEG. Also, as of the date of this notice, the Bidder is a shareholder of OEG whose shareholding in OEG increased above 5% on 04.04.2018.
The Bidder has made to OEG a proposal for the merger in accordance with the description provided in the prospectus and the notice of the Offer. OEG hereby announces that the Management Board of OEG starts work on preparing the merger, including preparing the general meeting of the shareholders of OEG which will decide on the merger. The terms of the contemplated merger have not yet been agreed upon and the Supervisory Board of OEG has not yet provided its consent for the contemplated merger. For the entry into force of the merger, inter alia, a relevant resolution of the general meeting of the shareholders of OEG is required.