HONG KONG, June 22, 2017 /PRNewswire/ -- Entertainment
Gaming Asia Inc. (Nasdaq: EGT) (the "Company") today announced that
Melco International Development Limited (HKG: 0200) ("Melco"),
through its wholly-owned subsidiary EGT Nevada Holding Inc. ("EGT
Nevada"), effected a short-form merger of EGT Nevada into the
Company on June 21, 2017, with the
Company continuing as the surviving corporation and a wholly-owned
subsidiary of Melco. The short-form merger follows the June 13, 2017 completion of EGT Nevada's
unsolicited cash tender offer of all outstanding shares of common
stock, $0.001 par value, of the
Company, other than the shares owned by Melco or its affiliates,
through which Melco and its affiliates increased their ownership in
the Company from approximately 64.8% to approximately 92.5% of the
outstanding shares. Pursuant to the short-form merger, the
remaining untendered shares were cancelled and converted into the
right to receive a cash payment equivalent to the tender price of
$2.35 per share. The holders of the
untendered, cancelled shares will be receiving a letter of
transmittal and forms with instructions on how to claim their cash
payment of $2.35 per share.
As a result of the short-form merger, on June 21, 2017 the Company requested that The
NASDAQ Stock Market LLC delist its common stock from The NASDAQ
Capital Market. On June 21, 2017, The
NASDAQ Stock Market LLC filed a Form 25 ("Notification of Removal
from Listing and/or Registration under Section 12(b) of the
Securities Exchange Act of 1934") with the Securities and Exchange
Commission (the "SEC"). Pursuant to the Form 25, the shares were
delisted and removed from trading on NASDAQ prior to the market
opening on June 22, 2017. The Company
also intends to file with the SEC a Form 15 under the Exchange Act,
requesting that the Company's reporting obligations under Sections
13 and 15(d) of the Exchange Act be suspended.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/entertainment-gaming-asia-inc-announces-completion-of-short-form-merger-and-delisting-from-the-nasdaq-capital-market-300478230.html
SOURCE Entertainment Gaming Asia Inc.
