TORONTO, July 19, 2018 /CNW/ - On July 18, 2018, The Stars Group Inc. ("The Stars Group") converted of all of its outstanding convertible preferred shares (the ''Preferred Shares'') into common shares at a rate of approximately 52.7085 common shares per Preferred Share, resulting in the cancellation of all the Preferred Shares pursuant to their terms (the ''Preferred Share Conversion''). Based on the 986,551 Preferred Shares outstanding at the time of conversion, The Stars Group issued approximately 52.0 million common shares. As a result of the Preferred Share Conversion, CVC European Equity Fund V ("CVC Fund V") now has beneficial ownership of, or control or direction over, less than 10% of the issued and outstanding common shares of The Stars Group.
Prior to the Preferred Share Conversion, CVC Fund V had beneficial ownership of, or control or direction over, 26,962,108 common shares of The Stars Group, representing approximately 12.4% of the issued and outstanding common shares of The Stars Group. After the Preferred Share Conversion, CVC Fund V continues to hold beneficial ownership of, or control or direction over, 26,962,108 common shares of The Stars Group, representing approximately 9.99% of the issued and outstanding common shares of The Stars Group.
CVC Fund V may, depending on market and other conditions, change its beneficial ownership of (or control or direction over) securities of The Stars Group.
CVC European Equity V Limited will be filing an early warning exit report under the SEDAR profile of The Stars Group at www.sedar.com. A copy may also be obtained by contacting Carsten Huwendiek, +44 (0)20 7420 4240. The head office of The Stars Group is located at Royal Bank Plaza, South Tower, Suite No. 3205, 200 Bay Street, Toronto, Ontario M5J 2J5.
SOURCE CVC European Equity V Limited
Carsten Huwendiek, +44 (0)20 7420 4240
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