WINNIPEG, Aug. 1, 2017 /CNW/ - Pollard Banknote Limited (TSX:PBL) ("Pollard Banknote") would like to remind shareholders of INNOVA Gaming Group Inc. ("INNOVA") that Pollard Banknote's premium all-cash offer to acquire all of the issued and outstanding common shares of INNOVA (the "Offer") will expire at 5:00 p.m. (Toronto time) on August 3, 2017 (the "Expiry Time").
The INNOVA board of directors has unanimously recommended that INNOVA shareholders accept the Offer and tender their common shares thereto.
If all conditions of the Offer are satisfied or waived, holders of INNOVA shares that accept the Offer will receive $2.50 in cash per common share. All INNOVA shareholders who have not yet tendered their common shares to the Offer are urged to submit tender instructions before the Expiry Time to avoid delays with receiving payment for their INNOVA shares.
Key Reasons to Tender
- 66% premium to INNOVA's closing share price prior to announcement of Pollard Banknote's initial proposal to acquire INNOVA
- INNOVA shareholders holding over 49% of common shares have already committed to supporting the Offer
- Offer unanimously supported by INNOVA Board of Directors
- Opportunity for all shareholders to realize immediate liquidity and certainty of value
- Offer not subject to due diligence or financing conditions or any regulatory approvals
To accept the Offer, you must tender your shares prior to its expiry on August 3, 2017 at 5:00 p.m. Toronto Time.
If, at the Expiry Time, all of the conditions are satisfied or waived, Pollard Banknote will immediately take up the common shares validly deposited under the Offer and not withdrawn, and will pay for common shares taken up under the Offer as soon as possible but in any event not later than three business days after the common shares are taken up.
Full details of the Offer are contained in the original offer to purchase and circular, as amended by the notice of variation dated July 20, 2017. Those documents are accessible under INNOVA's SEDAR profile at www.sedar.com. Shareholders are urged to read such documents and the Letter of Transmittal and the Notice of Guaranteed Delivery which accompanied the original offer to purchase and circular and to consider the important information set out in those documents.
Shareholder Questions and How to Tender
INNOVA shareholders that have already deposited their common shares to the Offer do not need to take any further action. To tender shares held by a broker or other financial intermediary, shareholders should contact that intermediary and instruct it to tender their shares. If shares are held in registered form, shareholders should complete the Letter of Transmittal included in the documents mailed to them by Pollard Banknote.
For assistance with depositing common shares to the Offer, INNOVA shareholders should contact Laurel Hill Advisory Group, the depositary and information agent for Pollard Banknote in connection with the Offer, at the contact information set out below.
Laurel Hill Advisory Group
1-877-452-7184 (North America toll free)
1-416-304-0211 (collect calls outside of North America)
About Pollard Banknote
Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high quality instant ticket products, licensed games, and strategic marketing and management services for both traditional instant games and the emerging iLottery space of web, mobile and social channels. The company is a proven innovator and has decades of experience helping lotteries to maximize player engagement, sales and proceeds for good causes. Pollard Banknote also plays a major role in the charitable pull‐tab and bingo markets in North America. Established in 1907, Pollard Banknote is owned approximately 73.5% by the Pollard family and 26.5% by public shareholders and is publicly traded on the TSX (PBL). For more information, please visit our website at www.pollardbanknote.com.
Certain statements in this press release may constitute "forward-looking" statements and information, which involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. When used in this document, such statements include such words as "may," "will," "expect," "believe," "plan," and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this document. There should not be an expectation that such information will in all circumstances be updated, supplemented, or revised whether as a result of new information, changing circumstances, future events, or otherwise.
SOURCE Pollard Banknote Limited
For further information: Doug Pollard, Co-Chief Executive Officer, E-mail: [email protected]; John Pollard, Co-Chief Executive Officer, E-mail: [email protected]; Rob Rose, Chief Financial Officer, E-mail: [email protected]; Pollard Banknote Limited, Telephone: (204) 474-2323