MONTREAL, Feb. 8, 2016 /CNW/ - Amaya Inc. (NASDAQ: AYA;
TSX: AYA) announced today that the special committee of the board
of directors of Amaya has appointed Barclays Capital Canada Inc. to
act as its exclusive financial advisor in connection with the
previously announced notice that Amaya has received from its
Chairman and Chief Executive Officer, David
Baazov, that he intends to make an all-cash proposal to
acquire Amaya at a price estimated by Mr. Baazov to be C$21.00 per common share. The special
committee has also engaged Blake, Cassels & Graydon LLP as its
legal advisor in connection with the notice received from Mr.
Baazov.
Mr. Baazov has indicated in a regulatory filing that he had
recently begun preliminary discussions with a small number of
potential investors and it was his intention, subject to certain
contingencies, to submit a formal proposal at or about the end of
February. Amaya has been notified that Amaya's Executive Vice
President, Corporate Development & General Counsel, along with
three other employees, may be participating in Mr. Baazov's
potential transaction proposal.
The special committee has neither received nor solicited a
formal bid or offer related to a potential transaction and there
can be no assurance that Mr. Baazov's notice will result in a
formal bid or offer or that any such bid or offer will ultimately
result in a completed transaction. Shareholders of Amaya do
not need to take any action with respect to any potential proposal
at this time. Amaya intends to provide updates if and when
necessary in accordance with applicable securities laws.
About Amaya
Amaya is a leading provider of
technology-based products and services in the global gaming and
interactive entertainment industries. Amaya owns gaming and related
consumer businesses and brands including PokerStars, Full Tilt,
BetStars, StarsDraft, the European Poker Tour, PokerStars Caribbean
Adventure, Latin American Poker Tour and the Asia Pacific Poker
Tour. These brands have more than 97 million cumulative registered
customers globally and collectively form the largest poker business
in the world, comprising online poker games and tournaments, live
poker competitions, branded poker rooms in popular casinos in major
cities around the world, and poker programming created for
television and online audiences. Amaya, through certain of these
brands, also offers non-poker gaming products, including casino,
sportsbook and daily fantasy sports. Amaya has various gaming and
gaming-related licenses or approvals throughout the world,
including from the United Kingdom,
Italy, France, Spain, Estonia, Belgium, Denmark, Bulgaria, Greece, Ireland, Romania, the Isle of
Man, Malta, the State of
Schleswig-Holstein in Germany, the Province of Quebec in Canada, and the State of New Jersey in the United States.
Forward-Looking Statements
This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and applicable securities
laws, including, without limitation, the intentions of Amaya's
Chief Executive Officer and certain potential future transactions.
Forward-looking statements can, but may not always, be identified
by the use of words such as "anticipate", "propose", "plan",
"continue", "estimate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"would", "should", "believe", "objective", "ongoing" and similar
references to future periods or the negatives of these words and
expressions. These statements, other than statements of historical
fact, are based on management's current expectations and are
subject to a number of risks, uncertainties, and assumptions,
including market and economic conditions, business prospects or
opportunities, future plans and strategies, projections,
technological developments, anticipated events and trends and
regulatory changes that affect us, our customers and our
industries. Although Amaya and management believe the expectations
reflected in such forward-looking statements are reasonable and are
based on reasonable assumptions and estimates, there can be no
assurance that these assumptions or estimates are accurate or that
any of these expectations will prove accurate. Forward-looking
statements are inherently subject to significant business, economic
and competitive risks, uncertainties and contingencies that could
cause actual events to differ materially from those expressed or
implied in such statements. Applicable risks and uncertainties
include, but are not limited to, those identified under the heading
"Risk Factors and Uncertainties" in Amaya's Annual Information Form
for the year ended December 31, 2014
and in its Management's Discussion and Analysis for the period
ended September 30, 2015, each
available on SEDAR at www.sedar.com, EDGAR at www.sec.gov and
Amaya's website at www.amaya.com, and in other filings that Amaya
has made and may make with applicable securities authorities in the
future. Investors are cautioned not to put undue reliance on
forward-looking statements. Any forward-looking statement speaks
only as of the date hereof, and Amaya undertakes no obligation to
correct or update any forward-looking statement, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
SOURCE Amaya Inc.