Gentoo Media - proposal to delist shares from Oslo Børs
ST. JULIAN'S, Malta, Jan. 30, 2025 /PRNewswire/ -- The Board of Directors of Gentoo Media Inc. (Gentoo) has today resolved to initiate a process to delist the company's shares from Euronext Oslo Børs while maintaining the listing of the shares on Nasdaq Stockholm. In the Board of Directors' opinion, liquidity in the company's shares and thereby shareholder value will benefit from being traded on Nasdaq Stockholm only, and the company has received signals to the same effect from certain principal investors as well as from other market participants.
Since 2019, the shares of Gentoo have been dual listed on Euronext Oslo Børs and Nasdaq Stockholm. Shareholders have had the possibility to trade in the share on both exchanges and across the exchanges. The company has seen a shift in investor focus from Norway to Sweden, which at the time of the dual listing was already a hub for the iGaming industry. In parallel, the number of holders of shares on Euronext Oslo Børs has gradually decreased, in part due to such shareholders have moved their shares to Nasdaq Stockholm. Liquidity in the shares trading in Oslo has also been limited. In addition, the company believes that liquidity in the shares trading in Stockholm could benefit from the shares not being dual listed in Oslo and Stockholm.
A delisting is subject to approval from a shareholders' meeting and Euronext Oslo Børs approving an application to delist the shares. The Board of Directors will call for a special meeting of shareholders mid-March for approval of the delisting. Subject to shareholder approval, an application to delist will we submitted, and given an approval from Euronext Oslo Børs, a delisting is expected to be effected by the end of Q2 2025.
For further information, contact:
Mikael Riese Harstad, Chairman of the Board, mikael.harstad@g2m.com, +46 737674852
Tore Formo, Group CFO, tore.formo@g2m.com +47 91668678
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:32 CET on 30 January 2025.
About Gentoo Media
Gentoo Media is a market-leading affiliate connecting operators and players in the online gambling and sports betting industry. Gentoo Media offers an array of iGaming affiliate solutions, such as paid marketing expertise and quality traffic through our prominent industry sites including AskGamblers, Time2Play, CasinoTopsOnline, WSN and Casinomeister. In 2024, Gentoo Media (formerly GiG Media) became Gentoo Media Inc. following a legal split separating the Media and Platform and Sportsbook business in Gaming Innovation Group into two independently listed companies. Gentoo Media Inc. is dual listed on the Oslo Stock Exchange (ticker "G2MNO") and Nasdaq Stockholm (ticker "G2M"). www.gentoomedia.com
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