News Release
(Progress of Disclosure Matters) Notice of Approval of Special General Meeting of Shareholders regarding the Acquisition of GAN Limited
- IR
2024/02/14
Link to see PDF ver.
(Translation)
Dear all,
Name of Company: SEGA SAMMY HOLDINGS INC.
Name of Representative: Haruki Satomi,
President and Group CEO, Representative Director
(Code No. 6460, Tokyo Stock Exchange Prime)
Further Inquiry: Makoto Takahashi,
Executive Vice President, Executive Officer,
Managing Director of Corporate Planning Division
(TEL: 03-6864-2400)
(Progress of Disclosure Matters) Notice of Approval of Special General Meeting of Shareholders regarding the Acquisition of GAN Limited
SEGA SAMMY (the “Company”) hereby notifies that at the Special General Meeting of Shareholders of GAN Limited (British Bermuda, listed on NASDAQ) held on February 13, 2024 (local time) the merger agreement between Sega Sammy Creation Inc. (“SSC”), a subsidiary of the Company and GAN Limited, and the terms of the acquisition were approved. Please refer to “SEGA SAMMY CREATION to Acquire GAN Limited ~ Establishing a Gaming Business ~” announced on November 8, 2023, for the details of the acquisition.
The closing of the acquisition is subject to receipt of certain regulatory approvals in jurisdictions where GAN Limited operates and the satisfaction of other general preconditions. The approval procedures with the authorities are progressing smoothly, but are expected to take some time to complete. We currently estimate that the effective date of the acquisition will be in the third quarter or fourth quarter of the fiscal year ending March 2025.
- Future Schedule of the Acquisition (as amended)
Effective date of acquisition: third to fourth quarter of the fiscal year ending March 2025 (plan)
- Future Outlook
Since GAN Limited will become a consolidated subsidiary of the Company after the completion of the acquisition process, the impact of this matter on the Company’s consolidated financial results for the fiscal year ending March 2024 is minimal. We will announce the impact on financial results after the completion of the acquisition planned on fiscal year ending March 2025 at an appropriate timing, after the completion of the acquisition process.
-End-