Upcoming redemption date of outstanding convertible debentures of Amaya
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MONTREAL, Feb. 5, 2013 /CNW Telbec/ - Amaya Gaming Group Inc. ("Amaya" or the "Company") (TSXV: AYA) wishes to remind holders of its 10.5% convertible unsecured subordinated debentures (Symbol: AYA.DB) due April 30, 2014 (the "Convertible Debentures") that all the Convertible Debentures will be redeemed on February 7, 2013 (the "Redemption Date").
Holders of Convertible Debentures may, until the close of business on the last business day immediately preceding the Redemption Date, namely February 6, 2013, convert their Convertible Debentures into common shares of Amaya (the "Common Shares") in accordance with the terms of the Convertible Debentures. Approximately 308 Common Shares will be issued for each $1,000 principal amount of Convertible Debentures converted representing a conversion price equal to $3.25 per Common Share.
As at February 5, 2013, and after processing the Convertible Debentures tendered for conversion, there is an aggregate principal amount of $9,760,000 of Convertible Debentures still outstanding.
In accordance with the debenture indenture dated as of January 17, 2012 between the Company and Computershare Trust Company of Canada governing the Convertible Debentures, the redemption price for each $1,000 principal amount of Convertible Debentures will be $1,028.48 (the "Total Redemption Price"), being an amount equal to the aggregate of $1,000 plus accrued and unpaid interest as of the Redemption Date, but excluding the Redemption Date, less applicable withholding taxes, if any. The Total Redemption Price will be payable upon presentation for surrender of Convertible Debentures by registered holders on or after the Redemption Date at the corporate trust office of Computershare Trust Company of Canada, 1500 University Street, 7th Floor, Montréal, Québec, H3A 3S8. CDS Clearing Depository Services Inc. will present for surrender the global certificate to Computershare Trust Company of Canada representing the Convertible Debentures held by the non-registered holders of Convertible Debentures. All Convertible Debentures redeemed will be cancelled and the Convertible Debentures will be delisted from the TSX Venture Exchange.
The aggregate redemption amount for the Convertible Debentures will be paid for with cash from Amaya's working capital.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Founded in 2004, Amaya Gaming Group Inc. is a technology based gaming provider for the regulated gaming industry. An expansive global organization, present in North America, Latin America, Europe and Asia, Amaya is an innovator in the gaming world. Headquartered in Montreal, Canada, Amaya provides a host of services and solutions that range from: online and mobile gaming casino games and platforms, traditional and mobile lotteries, networked electronic gaming systems, hospitality in-room entertainment systems, management systems, content suites, advisory and management services, and integrity monitoring and auditing systems for the regulated gaming markets.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, Amaya does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
SOURCE: AMAYA GAMING GROUP INC.For further information:
Mr. David Baazov President and Chief Executive Officer Amaya Gaming Group Inc.
North America: 1-866-744-3122