ZEAL responds to open letter from Lottoland CEO

News on 8 Jan 2019

In response to an open letter penned by Nigel Birrell, CEO of Lottoland Holdings and shareholder in ZEAL Network SE (see previous report),  ZEAL said it had yet to receive any proposals for alternative transactions but remains open to discussing serious alternative proposals until 18 January 2019 when the Extraordinary General Meeting will take place as planned.

“ZEAL believes that the intention behind Lottoland’s comments is to interfere with the planned takeover of Lotto24 and spread uncertainty,” the press statement reads. “Given Lottoland’s obvious position as a direct competitor, ZEAL cautions all shareholders to treat their comments with due scepticism.”

Zeal’s chief executive officer, Dr Helmut Becker, reiterated that reuniting ZEAL and Lotto24 has the strongest strategic rationale in their opinion, offering the best opportunity for sustainable growth and creates the most value for ZEAL’s shareholders.

“Strong opposition from a competing secondary lottery operator is clear and compelling evidence that our transaction is the best way forward for our company and our shareholders,” he said.

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