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Antisoma plc Enters Into Agreement With GVC Holdings PLC


Thursday, 20 Dec 2012 12:25pm EST 

Antisoma plc announced that on December 20, 2012, Antisoma entered into an agreement to subscribe, as described below, up to GBP4.0 million of new ordinary shares proposed to be issued by GVC in connection with its recommended offer, together with William Hill Australia Pty Limited ("William Hill"), for Sportingbet plc ("Sportingbet") (the "Offer"), which was announced on December 20, 2012. GVC has offered as consideration, for the businesses of Sportingbet which it proposes to acquire and retain, 29.0 million new GVC ordinary shares with a value of approximately GBP67.7 million at 233.5p per share, being the closing price on October 15, 2012, the last business day prior to the suspension of trading in GVC shares. Sportingbet shareholders are also being offered cash financed through a payment by William Hill in relation to the businesses of Sportingbet to be transferred to William Hill. Antisoma has entered into such an agreement with GVC to subscribe up to 1,713,062 new GVC ordinary shares at 233.5p per share, which represents a total potential commitment of £4.0 million. 1,713,062 new GVC ordinary shares would represent approximately 2.8 per cent. of GVC's issued ordinary share capital assuming full acceptance of the Offer. As consideration for this commitment, Antisoma has been granted subscription options over a further 343,053 new GVC ordinary shares, which are exercisable at 233.5p per share until the third anniversary from the date of grant. 

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