PRTY Partygaming

TIDMBPTY

RNS Number : 1439F

bwin.party digital entertainment

10 November 2015

10 November 2015

bwin.party digital entertainment plc

('bwin.party' or the 'Company')

Directorate change

The Board of bwin.party announces that Daniel Silvers, a Non-Executive Director, has today notified the Company that he is stepping down from the Board with immediate effect. This follows his decision to leave SpringOwl Asset Management LLC earlier this year to start Matthews Lane Capital Partners LLC.

Mr Silvers was appointed to the Board in May 2014 as nominee on behalf of one of the Company's shareholders, SpringOwl Gibraltar Partners B Limited, in accordance with the terms of a relationship agreement entered into by the Company in 2010. Earlier this year he advised the Company that he would be pursuing commercial interests outside SpringOwl and today's announcement reflects the priority he is now giving to these.

Commenting on today's announcement, Jason Ader, CEO of SpringOwl Asset Management LLC said:

"We remain strong supporters of the bwin.party Board and of the pending transaction with GVC Holdings PLC. Given the current timetable, we are not currently nominating a successor for appointment to the bwin.party Board ahead of the completion of the recommended offer from GVC that is expected to take place in early 2016."

Commenting on today's announcement, Philip Yea, Chairman said:

"Daniel has been a valued and constructive contributor to the Board's deliberations and I want to thank him for his significant contribution. We wish him well in his future endeavours."

Daniel Silvers said:

"I have enjoyed working with the bwin.party Board and am confident with the Company's current course, including the pending transaction with GVC. I wish bwin.party and each of my colleagues on the Board, every success for the future."

Contacts:

bwin.party digital entertainment plc

   Investors   Peter Reynolds             +44 (0) 20 7337 0177 
   Media       Jay Dossetter               +44 (0) 20 7337 0134 

Notes for Editors:

SpringOwl Gibraltar Partners B Limited has a nomination right under the relationship agreement with the Company, which it acquired from Emerald Bay Limited ('Emerald') and Stinson Ridge Limited ('Stinson') on 20 February 2014. This nomination right was created under the terms of the relationship agreement entered into by the Company with Emerald, Stinson and others at the time of the merger and grants the relevant shareholder the right to nominate an individual for appointment to the Board as a Non-Independent, Non-Executive Director..

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOAFFFSWSFISEDF

(END) Dow Jones Newswires

November 10, 2015 03:00 ET (08:00 GMT)

Partygaming (LSE:PRTY)
Historical Stock Chart
Von Apr 2024 bis Mai 2024

Partygaming (LSE:PRTY)
Historical Stock Chart
Von Mai 2023 bis Mai 2024