Following that MGM Casino Next Lion, LLC (”MGM”) controls more than 90 percent of the shares in LeoVegas AB (publ) and intends to initiate compulsory redemption of the remaining shares in the company, the Board of LeoVegas has resolved to apply for de-listing of the company’s shares from Nasdaq Stockholm.
On 31 August 2022, MGM declared the public offer for LeoVegas unconditional and completed the offer. Following the offer, MGM controls approximately 96 percent of the outstanding shares in LeoVegas. MGM has also announced its intention to initiate compulsory redemption of the remaining shares in LeoVegas.
In light of the above, and in accordance with MGM’s request, the Board of LeoVegas has resolved to apply for de-listing of the company’s shares from Nasdaq Stockholm. The last day of trading in LeoVegas’ shares on Nasdaq Stockholm will be announced as soon as LeoVegas has received confirmation thereof from Nasdaq Stockholm.
As announced today by separate press release, the Board of LeoVegas, at the request of MGM, has convened an Extraordinary General Meeting to be held on 27 September 2022 for, among other things, the election of a new Board of Directors.