The Veltyco Group PLC (LON:VLTY) announcement of 13 April 2017 of the proposed acquisition of a 51% interest in Quasar Holdings Limited, a newly incorporated holding company of Bet 90 Sports Limited (“Bet 90”), both of which are registered in Malta, set out that the Company had the option not to proceed to completion of the Bet90 Acquisition (“Completion”) if either of the two conditions were not satisfied by 31 May 2017. Veltyco intends to proceed to Completion and has agreed to waive the first condition, relating to the Malta Gaming Authority approving the continuation of the MGA Licence following the change of control of Bet 90 as a result of the Bet 90 Acquisition and Bet 90 obtaining the unconditional use of the MGA Licence.
Satisfaction of the second condition, relating to Veltyco Group PLC obtaining a Maltese legal opinion in relation to Quasar Holdings Limited’s ownership of Bet 90, is expected shortly and a further announcement will be made upon Completion.
