Hotels, Restaurants and Leisure
Company Overview of 32Red Plc
32Red Plc, an online gaming company, together with its subsidiaries, operates online casino, poker room, bingo, and sports betting games primarily in Gibraltar. It operates through Casino and Other Products segments. It provides a range of casino games at 32Red.com, which include card and table games, online video poker, online progressive jackpots, and online slot machines through mobile and desktop, as well as Roxy Palace, an online casino; sports betting products at 32RedSport; online bingo at 32RedBingo.com; and poker rooms at 32RedPoker.com. The company was founded in 2000 and is based in Gibraltar. As of June 6, 2017, 32Red Plc operates as a subsidiary of Kindred Group plc.
Founded in 2000
Key Executives for 32Red Plc
Founder, Chief Executive Officer and Executive Director
Chief Financial Officer, Secretary and Executive Director
Chief Operations Officer and Executive Director
Chief Commercial Officer and Executive Director
Compensation as of Fiscal Year 2017.
32Red Plc Key Developments
32Red Plc Announces Cancellation Of Admission To Trading On AIM
Jul 7 17
At the request of the 32Red Plc trading on AIM for ordinary shares of 0.2 pence each, fully paid has been cancelled from July 7, 2017, 7:00 am.
32Red To Apply For Cancellation Of Admission To Trading Of Shares on AIM
Jun 6 17
On 23 February 2017, the boards of directors of Kindred Group plc and 32Red plc announced a recommended cash offer of 196 pence per 32Red share by Kindred (Offer). On 27 March 2017, the board of Kindred announced that the Offer had become unconditional as to acceptances. The Offer remained subject to certain remaining conditions as set out in the update of 5 May 2017, including, a determination by the UKGC pursuant to section 102(4)(a) of the UK Gambling Act 2005 that all relevant operating licenses held by the Wider 32Red Group shall continue to have effect following the completion of the Transaction. As at 5.30 p.m. (London time) on 5 June 2017, Kindred had received valid acceptances of the Offer in respect of, or had acquired, 83,326,813 32Red Shares, representing approximately 97.6% of the issued share capital of 32Red. Since the Offer has become unconditional in all respects, Kindred has procured that 32Red will apply for the cancellation of the admission to trading of 32Red Shares on AIM, such that trading in 32Red Shares on AIM will cease at 7.00 a.m. (London time) on 7 July 2017 and Kindred also intends to take the necessary steps to re-register 32Red as a private limited company.
Kindred Group Intends To 32Red To Make Application For Cancellation From AIM
Mar 27 17
The board of directors of Kindred Group plc announced that, by virtue of the level of acceptances received as at 1.00 p.m. (London time) on 24 March 2017, valid acceptances had been received from 32Red Shareholders in respect of 77,978,301 32Red Shares (representing approximately 91.4%. of the issued share capital of 32Red), which Kindred may count towards the satisfaction of the acceptance condition of the Offer, the Offer has become unconditional as to acceptances. The Offer will remain open for acceptance until further notice. If the Offer becomes, or is declared, unconditional in all respects, Kindred intends to procure that 32Red will make an application for the cancellation of the admission to trading of 32Red Shares on AIM and Kindred will seek to re-register 32Red as a private limited company. A notice period of not less than 20 Business Days before the cancellation will commence on the date on which the Offer becomes or is declared unconditional in all respects. Cancellation of admission to trading would significantly reduce the liquidity and marketability of any 32Red Shares not assented to the Offer. Given that Kindred has received acceptances for the Offer in respect of more than 90%. of the 32Red Shares to which the Offer relates by nominal value and voting rights attaching to such shares, if the Offer becomes, or is declared, unconditional in all respects, Kindred intends to exercise its rights under applicable Gibraltar law to acquire compulsorily, on the same terms as the Offer, the remaining 32Red Shares not assented to the Offer.
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February 23, 2017