Talarius Buyout

This article comes from Highwaygames.com

The board of Talarius is pleased to announce that, at the Court Meeting and Extraordinary General Meeting of Talarius Shareholders held earlier today, Talarius Shareholders voted to approve, by the necessary majorities, the scheme of arrangement under s425 Companies Act 1985 to implement the recommended acquisition of Talarius by European Gaming (a joint venture company controlled by Tattersall's and Macquarie). Details of the resolutions are set out in the notices of the meetings contained in the Scheme document posted to Talarius Shareholders on 1 December 2006 (the "Scheme Document").

At the Court Meeting 87.95 % of shareholders present and voting in person or by proxy voted in favour of the Scheme representing 85.69 % of the votes cast in value. At the EGM the resolution was passed on a show of hands and was supported by 87.41 % of the proxy votes cast.
The implementation of the acquisition remains conditional upon the satisfaction or waiver of the Conditions set out in the Scheme Document including the sanction of the Scheme and the confirmation of the Capital Reduction by the Court. It is anticipated that the Court hearing to sanction the Scheme will take place next week and the Court hearing to confirm the Capital Reduction will take place on 31 January 2007 with the Scheme becoming effective on 1 February 2007 and cheques being despatched or settlement through CREST being within 14 days of the Scheme becoming effective.