The Board of Gtech approved a new program of purchase of treasury shares, for a maximum quantity of 16.676.505 shares, equal to approx 9,5% of the share capital: the buyback, according to what is explained in a press release, is aimed at "ensuring, in compliance with current provisions, the regular performance of trading and prices in the face of any distortive phenomena linked to excess volatility or low trading liquidity , pending the Igt acquisition procedure”. The purchase price of the shares cannot in any case be higher than 18,44 euro.
The board also approved the cross-border merger plan relating to theincorporation of the English-registered subsidiary Georgia Worldwide Plc (NewCo), an operation that is part of the acquisition of International Game Technology.
The shareholders' meeting will be called to approve the merger on the basis of an exchange ratio of one common Georgia share for each Gtech share held. If the withdrawal requests exceed 20% of the outstanding shares, the company will have the right not to proceed with the operation.
This morning at the opening of the stock market of Gtech travels up by 0,3%, a 18,71 euros, in contrast with the Ftse Mib (-0,4%).
