Alta Fox Capital And Other Shareholders Of Enlabs Disagree With The Entain Proposal

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March 29, 2022
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Shareholders Enlabs Object to Entain's Proposals

Alta fox capital, being one of the largest shareholders of enlabs ab and currently owning 2,322,625 shares, which is 3.34% of the total number of shares in circulation, reported that don’t plan to set any shares at the current offer entain offer 40 swedish crowns for each promotion enlabs.

This proposal significantly underestimates the value of the company, represents a minor award in 1.1% of the priority price and has unusual circumstances that make us wonder why the chairman of enlabs niklas braiateen accepted such an inadequate offer. The fact that entain will pay brande compensation as a senior executive director after the transaction and that entain ceo has just announced its care, is quite unusual. This leads us to the conclusion that, although this is a profitable deal for entain, this is a disadvantageous transaction for minority shareholders of enlabs.

Alta fox hired legal advocacy to protect our interests in this matter and held talks with other major shareholders, some of which were signed by the company’s application support and make up more than 10% of the total number of shares in circulation.

If entain wants to acquire enlabs, a strategic asset with a high extension, entain must compensate for shareholders of excellent growth prospects as an independent company. Alta fox believees that the minimum fair price that could compensate for shareholders is 55 swedish crowns per share of enlabs. For any suggestion below this price, shareholders would prefer the company to remain an independent organization. Alta fox confidently believes that they have support to block the displacement of minority shareholders, legal adviser to ensure fair treatment of them in accordance with sweden’s legislation (alta fox has retained roschier advokatbyrå), as well as determination of the fair price, reflecting autonomous growth prospects enlabs.

Source: official press release alta fox capital

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