Gtech's extraordinary shareholders' meeting gave the go-ahead for the cross-border merger of the company into the English-registered subsidiary Georgia Worldwide Plc (NewCo). The operation - informs a note from the group - is part of the broader acquisition of International Game Technology ("IGT") by Gtech.
Upon completion of the merger, which is subject to the conditions set forth in the Agreement and Plan of Merger signed on 15 July 2014, NewCo will become the holding company of the group resulting from the merger between Gtech and Igt, with registered office in London and operational headquarters in Rome, Las Vegas and Providence. NewCo's common stock will be listed on the New York Stock Exchange.
On the effective date of the merger, Gtech will be incorporated into NewCo and Gtech shareholders will receive one ordinary share of NewCo for each Gtech share held. Gtech shareholders who did not vote in favor of the merger in today's extraordinary shareholders' meeting will be entitled to exercise the right of withdrawal in the fifteen days following the registration of the relative shareholders' meeting resolution in the Rome Company Register.
The unit liquidation price of the Gtech shares to be paid to the shareholders who have legitimately exercised the right of withdrawal is equal to Euro 19,174. The NewCo shareholders' meeting for the approval of the merger will be held on December 15, 2014.
A few minutes after the closing, the Gtech stock on the Stock Exchange lost one percentage point, a 18,25 euro.
