• Annual General Meeting of subsidiary LOTTO24 AG convened on August 27 – resolution on squeeze-out
• Amount of cash compensation for minority shareholders’ shares determined

ZEAL Network SE, holding company and main shareholder of LOTTO24 AG, has concretized its transfer request for LOTTO24 AG of March 2024. The resolution on the squeeze-out is to be passed at the Annual General Meeting of LOTTO24 AG on August 27.

ZEAL Network SE has informed the Management Board of LOTTO24 AG that it has set the cash compensation for the intended transfer of the shares of the minority shareholders of LOTTO24 AG at € 479.25 per share.

The amount of the cash compensation was determined by ZEAL Network SE on the basis of a company valuation carried out by KPMG AG Wirtschaftsprüfungsgesellschaft.

The appropriateness of the cash compensation was confirmed by the court-appointed expert auditor ADKL AG Wirtschaftsprüfungsgesellschaft.

ZEAL holds around 95.45 percent of the share capital and voting rights of LOTTO24 AG. At a price of € 479.25 per share, ZEAL Network SE will pay a total of approximately € 36.3 million for the acquisition of the remaining shares in LOTTO24 AG. ZEAL Network SE will fund the acquisition of the remaining shares entirely by drawing down loans. ZEAL Network SE has already signed the corresponding loan agreements.

 https://europeangaming.eu/portal/latest-news/2024/07/17/163448/zeal-submits-concretized-squeeze-out-request-to-lotto24-ag/