Evolution completes acquisition of Big Time Gaming

(PRESS RELEASE) -- As Evolution AB published on 12 April 2021 it has entered into an agreement to acquire the entire issued share capital of Big Time Gaming Pty Ltd for a consideration payable in cash and Evolution shares. All regulatory approvals which the Transaction was conditional upon have now been received, and Evolution has today completed the Transaction and acquired the shares.

Due to the completion of the Transaction, Evolution’s board of directors has today resolved to issue 1,105,032 shares. The right to subscribe for the new shares accrues, with deviation from the shareholders’ preferential rights, to the sellers of Big Time who have subscribed for the shares against set-off of their receivable of EUR 140,030,000 against the newly issued shares.

The subscription price in the issue amounts to EUR 126,72 per share, which – in accordance with the agreement in respect of the Transaction – is equivalent to the volume weighted average price of the Evolution share on Nasdaq Stockholm during the period 23 March – 7 April 2021.