‘Business as usual’ at Perform after delisting of shares from London Stock Exchange

‘Business as usual’ at Perform after delisting of shares from London Stock Exchange

Wednesday, December 10, 2014 Totally Gaming

A Perform Group spokesperson has told TotallyGaming.com that it is “business as usual” at the digital sports media company after it confirmed the delisting of its stocks from the London Stock Exchange (LSE) following the acquisition of a majority shareholding by Access Industries.

The privately held investment group first approached Perform in September over the possibility of increasing its shareholding in the digital sports media firm to 100 per cent.

However, Perform, which has various sports betting services such as the Watch&Bet live streaming offering, recommended that its shareholders reject the bid after claiming it undervalued the company and its proposals.

Despite Access Industries having submitted a revised offer later in September, the independent board of directors at Perform urged shareholders to reject this second bid.

However, last month Access Industries increased its stake in Perform and confirmed that it was to delist the company from the LSE. The privately held investment group said that it now holds, or has been offered, 87 per cent of share in Perform.

Speaking to TotallyGaming.com about the delisting, a Perform spokesperson stressed that this would not impact business at the company, nor would it affect its partners.

“For Perform and our staff and business partners, it is business as usual and now that we have certainty in place around the ownership of the company, we look forward to progressing with a number of plans to expand further into new areas that we feel offer significant opportunities for us,” the spokesperson said.

Backing up this point, the spokesperson highlighted Perform’s recent agreement with the Women’s Tennis Association. The 10-year deal has been billed as the largest such agreement in the history of women’s sports and is worth $525 million (€420m). The spokesperson also said the Perform would continue pursue its ongoing growth strategy despite the desisting of shares.

“We will continue to execute our growth strategy through increasing our international presence, further strengthening our content and rights portfolio, and developing and launching new products and services to meet the demands of the evolving sports media marketplace,” the spokesperson added.

 

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