Genting Raises Stake in London Clubs

25 Apr 2005

UNITED KINGDOM – As reported by the Edge Daily: "Genting Bhd has raised its stake in UK-based casino owner London Clubs International to 29.9% — just below the 30% trigger point where it has to make a bid for the company — as it continues to expand its interest in the gaming operations there.

"On April 22, it acquired 15.81 million shares of 5p in London Clubs, which operates 11 casinos mainly in UK, raising its shareholding to 66.36 million shares from the previous 50.55 million shares or 22.2%. London Clubs' share price closed at 130.75p (RM9.50) on April 22.

"The acquisition of the 15.81 million shares was disclosed in a regulatory news service statement to the London Stock Exchange. The acquisition price of the stake was not disclosed.

"Analysts said the move would be synergistic to Genting, which as a group had just raised its stake in Britain's largest casino company Stanley Leisure plc to 20.3% or 26.20 million shares…"

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	Genting Raises Stake in London Clubs 25 Apr 2005 UNITED KINGDOM – As reported by the Edge Daily: "Genting Bhd has raised its stake in UK-based casino owner London Clubs International to 29.9% — just below the 30% trigger point where it has to make a bid for the company — as it continues to expand its interest in the gaming operations there. "On April 22, it acquired 15.81 million shares of 5p in London Clubs, which operates 11 casinos mainly in UK, raising its shareholding to 66.36 million shares from the previous 50.55 million shares or 22.2%. London Clubs' share price closed at 130.75p (RM9.50) on April 22. "The acquisition of the 15.81 million shares was disclosed in a regulatory news service statement to the London Stock Exchange. The acquisition price of the stake was not disclosed. "Analysts said the move would be synergistic to Genting, which as a group had just raised its stake in Britain's largest casino company Stanley Leisure plc to 20.3% or 26.20 million shares…"