Kindred initiates review of strategic alternatives
The Board of Directors of Kindred Group plc initiates a review of strategic alternatives to maximise shareholder value.
Kindred Group plc (“Kindred” or the “Company”) has assembled a world-class portfolio of online gaming and sports wagering assets in key jurisdictions around the world, and the Board of Directors is focused on maximizing the value of these assets for the Company’s shareholders. Kindred hereby announces that its Board of Directors has unanimously decided to initiate a process to explore strategic alternatives for the Company.
As part of this strategic process, the Board of Directors will consider all potential alternatives that can deliver value for the Company’s shareholders. Such alternatives could include a merger or sale of the Company (in whole or in part) or other possible strategic transactions.
The Board of Directors has retained PJT Partners, Morgan Stanley & Co. International plc and Canaccord Genuity, as financial advisors and to assist in its review of strategic alternatives. White & Case has been appointed as legal advisor in connection with the review process.
The Board of Directors has not set a timetable for completion of its review. There can be no assurance regarding the results or outcome of Kindred’s review of strategic alternatives. Subject to compliance with its ongoing disclosure obligations pursuant to applicable laws and regulations, Kindred undertakes no obligation to make any further announcements regarding the exploration of strategic alternatives unless and until final decisions are made by the Company’s Board of Directors.
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-04-2023 07:31 CET.
For more information
Kindred Board:
Evert Carlsson, Chairman of the Board of Directors, evert.carlsson@kindredgroup.com
PJT Partners:
Simon Lyons, +44 (0) 20 3650 1100
Morgan Stanley & Co. International plc:
Daniel Vyravipillai, +44 (0) 20 7425 8000
Canaccord Genuity:
George Fleet, +44 (0) 7523 8000
About Kindred Group
Kindred Group is one of the world’s leading online gambling operators with business across Europe, US and Australia, offering over 30 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs over 2,000 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com.
Nasdaq Stockholm, KIND-SDB