Entain through its wholly-owned subsidiary Bwin Holdings (Malta) Limited has announced a public cash offer to the shareholders of Enlabs AB to tender all their Enlabs shares to Entain.

On 1 March 2021, Entain announced that it had decided to increase the consideration in the offer from SEK 40 per share to SEK 53 per share.

The offer has been accepted by shareholders holding in total 65,856,834 shares, corresponding to approximately 94.2% of the total number of shares and votes in Enlabs. 

As set out in the offer document, the offer did not include warrants issued by Enlabs and acquired by employees under the incentive program implemented by Enlabs.

Entain has offered the warrant holders to sell all their warrants to Entain outside of the Offer at a price equal to the see-through value of the warrants on the basis of the offer price. The separate offer to the warrant holders has been accepted by holders of 1,350,000 warrants out of a total of 1,400,000 warrants allotted and transferred to participants in the incentive program.

Except as set out above, Entain has not acquired any Enlabs shares or financial instruments that give a financial exposure to the Enlabs shares outside the offer.

All conditions for completion of the offer have been satisfied and Entain therefore declares the offer unconditional.

Settlement in respect of the Enlabs shares tendered no later than 18 March 2021, is expected to occur on or around 30 March 2021.

Entain has decided to extend the acceptance period until 13.00 CET on 1 April 2021 to enable Enlabs shareholders who have not yet accepted the offer to accept the offer.

Settlement in respect of shares tendered during the extended acceptance period is expected to occur on or around 13 April 2021. Entain will not extend the acceptance period further.

Entain intends to initiate compulsory acquisition proceedings in respect of Enlabs shares not tendered in the offer, and to request that the Enlabs board applies for a delisting of the Enlabs shares from Nasdaq First North Growth Market.