Key Developments: William Hill PLC (WIMHY.PK)
23.40USD
10 Apr 2013
$0.60 (+2.63%)
$22.80
$23.40
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Latest Key Developments (Source: Significant Developments)
William Hill plc Completes Sportingbet Acquisition
William Hill plc announced that it has completed the acquisition of Sportingbet's Australian business and has been granted a call option over Sportingbet's locally licensed Spanish business for a total cash consideration of GBP459.4 million. The acquisition was made as part of a recommended offer for Sportingbet by William Hill and GVC Holdings plc (GVC). It is in line with the Group's strategy to develop its online business, to increase its exposure to attractive markets by taking local licences and to diversify its revenues by geography. Full Article
William Hill PLC Proposes Final Dividend
William Hill PLC announced that the Board has proposed a final dividend of 7.8 pence per share (2011: 6.7 pence per share), an increase of 16%over the prior year, reflecting the strong results delivered in the 2012 financial year and the Board's confidence in William Hill's future. This gives a full-year dividend of 11.2 pence per share (2011: 9.6 pence per share). Full Article
William Hill plc Issues FY 2012 Guidance; Operating Profit Guidance Above Analysts' Estimates
William Hill plc announced that for fiscal 2012, it expects net revenue to be up around 12% (52 week basis +10%) and operating profit to be around GBP330 million (52 week basis cGBP326 million). According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of GBP1.24 billion and operating profit of GBP302 million for fiscal 2012. Full Article
William Hill plc And GVC Holdings Plc To Acquire Sportingbet Plc
William Hill plc, GVC Holdings plc and Sportingbet plc announced that they have reached agreement on the terms of a recommended offer pursuant to which GVC will acquire the entire issued and to be issued share capital of Sportingbet and members of the William Hill Group will acquire the Sportingbet Australian Business and certain other assets from the Sportingbet Group and be granted a call option over the Sportingbet Spanish Business (the "Offer"). On this basis, the Offer values the entire issued and to be issued share capital of Sportingbet on a fully diluted basis (assuming payment in full to Sportingbet Convertible Bondholders of the Sportingbet Convertible Bonds at their see through conversion value and exercise of all outstanding in the money options and LTIP awards) at approximately GBP485 million. Under the terms of the Offer, Sportingbet Convertible Bondholders will be entitled to receive in cash the amount that represents the see through value of the Sportingbet Convertible Bonds under their terms as if the Sportingbet Convertible Bondholders had exercised their right to convert their bonds into Sportingbet Shares at the Effective Date and received cash consideration of 55 pence per resulting Sportingbet Share. The cash amount payable to Sportingbet Convertible Bondholders will be calculated based on the Change of Control Conversion Price. Sportingbet Convertible Bondholders will not be entitled to participate in the Mix and Match Facility. Full Article
William Hill plc To Get More Time For Sportingbet plc Bid-Reuters
Reuters reported that William Hill plc will get more time to finalize a proposed GBP530 million ($843 million) offer for online gaming group Sportingbet PLC. William Hill and smaller partner GVC Holdings won provisional backing for the takeover proposal from the Sportingbet board last month. Britain's Takeover Panel, which oversees mergers, gives companies a four-week deadline to come up with a firm offer after a bid approach but this can be extended at the request of the target company. Full Article
William Hill plc And GVC Holdings plc Consider Possible Joint Offer for Sportingbet
William Hill plc announced that the Company and GVC Holdings plc ("GVC") note the recent share price movement of Sportingbet plc ("Sportingbet") and confirm that they are in the preliminary stages of considering a possible joint offer for Sportingbet. William Hill and GVC have committed to work exclusively with each other in this regard. It is currently envisaged that any possible offer would be structured such that when completed William Hill would acquire the Australian and certain other locally licensed businesses of Sportingbet (the "Regulated Businesses") and GVC would acquire the remaining parts of the Sportingbet business. Any offer would be substantially in cash with an element of GVC paper. William Hill intends that the entity initially acquiring the Regulated Businesses would be a subsidiary of William Hill and not William Hill Online. GVC and William Hill reserve the right to amend the terms and structure of the possible offer in due course. In accordance with Rule 2.6(a) of the Code, William Hill and GVC must, by not later than 5.00 p.m. on 16 October 2012, either announce a firm intention to make an offer for Sportingbet in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code Full Article
William Hill plc Approves Interim Dividend
William Hill plc announced that the Board has approved an interim dividend of GBP0.034 per share (2011: GBP0.029 per share). The dividend is payable on December 7, 2012, the ex-dividend date is October 24, 2012 and the record date is October 26, 2012. The Group estimates that approximately 705.6 million shares will qualify for the interim dividend. Full Article
William Hill plc Signs New Contract
William Hill PLC announced that it has awarded an exclusive contract to Inspired Gaming Group (Inspired) for the sole supply of gaming machines to the Group's licensed betting offices (LBOs). The new exclusive contract extends to 2016. Under the contract, William Hill has retained the flexibility of an option to return to a dual-supply model for a portion of its estate should it consider that to be in its best interests. Full Article
William Hill plc Announces That It Does Not Intend To Make An Offer For Probability Plc
William Hill plc announced that further to its announcement on September 20, 2011, regarding preliminary discussions with Probability Plc, William Hill plc announced that it does not intend to make an offer for Probability. For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers (the Takeover Code), William Hill plc reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for Probability (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Takeover Code) within the next six months following the date of this announcement; with the agreement or recommendation of the Board of Probability; following the announcement by or on behalf of a third party of a firm intention to make an offer for Probability or Probability announces that it has received an approach in relation to a possible offer from a third party; in the event that Probability announces a whitewash proposal or a reverse takeover (as defined in the Code); or if there is a material change of circumstances. Full Article
William Hill plc Reaffirms FY 2011 Guidance-Conference Call
William Hill plc reiterated that it is confident of fiscal 2011 expectations. Full Article
William Hill's Topping extends stay as CEO
LONDON, May 9 - William Hill, Britain's largest bookmaker, said on Thursday its chief executive Ralph Topping would lead the group until at least the end of 2015, having originally been expected to step down at the end of this year.
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