Intertain Group limited will ask its shareholders to approve a move to London from Toronto as a special meeting September 23.
The group spent an initial $629.7 million last year to acquire the UK online operations of Gibraltar-based Gamesys Limited. The purchases included Gamesys’ Jackpotjoy online bingo brand. The company wants to now pursue a full listing with the London Stock Exchange and relocate its headquarters to London.
The proposal would create a new London-listed entity known as Jackpotjoy to serve as the parent for all of its future brands alongside the recently-purchased Starspins and Botemania
“We are excited to have reached these important milestones in implementing the UK strategic initiatives,” said Neil Goulden, chairman for Intertain Group Limited. “We continue to believe that these initiatives will result in a fuller and more appropriate valuation of our business and that they position Intertain for long-term growth and success. We are also excited to be taking the UK strategic initiatives to our shareholders at the meeting later this month and to providing them with an opportunity to consider and approve the arrangement, which is necessary for us to proceed with these proposals.”
Goulden is former chief executive officer for British-based Gala Coral Group Limited. He joined Intertain in June along with Andrew McIver, Intertaain’s CEO who formerly headed London-headquartered Sportingbet.
The company said in a press release that if the plan is approved, that it intends to list its new Jackpotjoy entity on the London Stock Exchange by early to mid-October with Goulden and McIver joined on a new board by existing directors David Danziger, Paul Pathak and Jim Ryan.
Nigel Brewster, Jorgen Nordlund and Colin Sturgeon are to sign up as non-executive directors with Keith Laslop retaining his position as chief financial officer.
“Each new director brings a strong finance and management background to Intertain Group Limited with Brewster and Nordlund having held a variety of senior executive positions including in the gaming industry and Sturgeon having held a variety of senior roles in Europe with a prominent commercial and investment bank,” read a statement from Intertain Group Limited.
In addition, the plan will see Noel Hayden, a non-executive director for the firm and the former Chief Executive Officer for Gamesys Limited, become a “special advisor” to the company.
