In the run-up to its purchase by NeoGames SA and Maltese iGaming solutions firm Aspire Global Limited has officially asked Swedish officials for permission to de-list its shares from the Nasdaq First North Premier Growth Market bourse.
Headquartered in the Valletta suburb of Sliema, the developer used an official Tuesday press release to detail the application and simultaneously explain that NeoGames SA now controls 98.25% of its aggregate shareholding. Should the request be granted and the Stockholm-listed innovator furthermore declared that it intends to initiate a ‘compulsory redemption’ exercise for its remaining investments.
Established in 2005, Aspire Global Limited offers online casino and sportsbetting operators around the world a variety of solutions that run from management, risk and payment facilities to customer support and acquisition optimization services. The company revealed in January that Tel Aviv-headquartered NeoGames SA had put forward a $477.2 million takeover proposal that is to see its investors receive approximately $12.26 for every share they hold.
At the time and the Chief Executive Officer for Aspire Global Limited, Tsachi Maimon, described the move by NeoGames SA as ‘the natural next step’ for his company as it looks to ‘further enhance its scale and competitive position across all business lines’. The boss additionally contended that this exercise would ‘generate significant long-term value for both sets of shareholders’ by allowing the pair to combine the capabilities of their platforms and position them ‘for expansion in new and existing markets.’
Aspire Global Limited went on to proclaim that the proposed takeover offer from NeoGames SA became unconditional on May 30 ‘as all of the conditions for completion are met’ and that investors had until yesterday afternoon to accept the agreed upon redemption price following the implementation of a three-week extension. The innovator also stated that this ‘squeeze-out’ exercise had resulted in shareholders who had so far not taken advantage of the buy-out being obliged ‘to transfer all their shares in the company’ to the new parent.
Read a statement from Aspire Global Limited…
“In light of the above and at the request of NeoGames SA, the board of directors of Aspire Global Limited has resolved to apply for de-listing of the company’s shares from Nasdaq First North Premier Growth Market. The last day for trading in the company’s shares on Nasdaq First North Premier Growth Market will be announced as soon as the company has received notification from Nasdaq Stockholm AB.”
Aspire Global Limited currently supplies its advances across 31 jurisdictions including the United States, Spain, Mexico and the United Kingdom and pronounced that its business-to-business platform can provide firms with ‘everything they need to operate a successful iGaming brand covering casino and sports’. The company finished by asserting that this innovation ‘comprises a robust technical platform’ and a selection of proprietary titles as well as a patented sportsbook and a games aggregator.