Battle for NYX hotting up?

News on 29 Nov 2017

Canadian-based Pollard Equities Limited (Pollard), a company that holds an approximate 73.5 percent ownership interest in Pollard Banknote Limited (Banknote) has purchased four million warrants to acquire ordinary shares of NYX Gaming Group Limited for an aggregated price of CDN$0.03 per warrant, an early warning report details.

Assuming Pollard exercises all the Warrants it owns, its interest in the outstanding shares of NYX Gaming Group will rise to 11.2 percent.

In addition, Pollard notified it had entered into an agreement with Banknote allowing it the option to purchase the NYX Ordinary Shares and Warrants that Banknote owns at no purchase cost.

Our readers will recall NYX’s recently announced proposed acquisition agreement with Scientific Games Corporation who would acquire all the outstanding Ordinary Shares of NYX at CDN$2.40 per share.

William Hill Steeplechase Limited, whose preferred shares equate to around 32 percent of the ordinary shares  of the company is believed to be planning to oppose the deal.

“[Pollard] intends to monitor the proposed Arrangement launched by Scientific Games and review its investment in NYX on a continuing basis,” a press statement reads, also indicating the company may enter into discussions with the interested parties depending on the development of the agreement.

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