Following the Company’s Extraordinary General Meeting (“EGM”), held in the Isle of Man today, the board of Fairground Gaming, the on-line gaming investment holding company, is pleased to announce that all resolutions put to the meeting were duly passed.
The acquisition of The Spin Palace Group remains conditional on the admission of the Company’s ordinary shares to trading on AIM, which is expected to occur on Thursday 16th June 2006.
9,100,100 ordinary shares and 17,294,707 warrants are being issued as part of the consideration payable for the acquisition of The Spin Palace Group. Fairground Gaming has also placed 7,058,824 new ordinary shares with institutional and other investors. Both the ordinary shares issued as part consideration for the acquisition and also the ordinary shares issued pursuant to the placing are conditional on admission of the Company’s ordinary shares to trading on AIM.