Entain Increases Enlabs Offer to SEK3.7bn

Entain plc, through its wholly-owned subsidiary Bwin Holdings Limited, announced a recommended public cash offer to the shareholders of Enlabs AB to tender all their Enlabs shares to Entain.

Entain has today decided to increase the price under the recommended Offer from SEK 40 per share to SEK 53 per share. The Increased Offer Price is final and will not be increased by Entain.

Rob Wood, CFO and deputy CEO of Entain plc said, “As a world leader in sports betting and gaming entertainment, Entain’s ambition is to revolutionise betting and gaming to create the most exciting and trusted entertainment for every customer. In a highly competitive and regulated industry, where consolidation is a key theme, Entain is able to provide the scale and platform needed to further support Enlabs’ long-term growth, and we firmly believe that Entain will be the best home for Enlabs, its employees and customers. Against this background, we have decided to make a final offer of SEK 53 to all shareholders, providing an opportunity to exit their investment at a very attractive valuation. We are pleased that shareholders with around 51 per cent have now irrevocably agreed to accept the offer and would urge other shareholders to do the same by 18 March.”

If Enlabs pays dividends or makes any other distributions to Enlabs shareholders, for which the record date occurs prior to the settlement of the Offer, the Increased Offer Price will be reduced accordingly.

The Increased Offer Price values Enlabs at around SEK 3.7 billion (equivalent to approximately GBP 316 million at the time of this announcement). The Increased Offer Price is final and will not be increased by Entain.

The Increased Offer Price represents a premium of:

• Approximately 88.5% compared to the volume-weighted average price of SEK 28.12 per Enlabs share on Nasdaq First North during the last 180 trading days prior to the announcement of the Offer;

• Approximately 53.1% compared to the volume-weighted average price of SEK 34.61 per Enlabs share on Nasdaq First North during the last 90 trading days prior to the announcement of the Offer; and

• Approximately 34.0% compared to the closing price of SEK 39.55 per Enlabs share on Nasdaq First North on 5 January 2021, which was the last trading day prior to the announcement of the Offer.