An anonymous director reports
AMAYA SPECIAL COMMITTEE APPOINTS FINANCIAL ADVISOR
The special committee of the board of directors of Amaya Inc. has appointed Barclays Capital Canada Inc. to act as its exclusive financial adviser in connection with the previously announced notice that Amaya has received from its chairman and chief executive officer, David Baazov, that he intends to make an all-cash proposal to acquire Amaya at a price estimated by Mr. Baazov to be $21 per common share. The special committee has also engaged Blake, Cassels & Graydon LLP as its legal adviser in connection with the notice received from Mr. Baazov.
Mr. Baazov has indicated in a regulatory filing that he had recently begun preliminary discussions with a small number of potential investors and it was his intention, subject to certain contingencies, to submit a formal proposal at or about the end of February. Amaya has been notified that Amaya's executive vice-president, corporate development, and general counsel, along with three other employees, may be participating in Mr. Baazov's potential transaction proposal.
The special committee has neither received nor solicited a formal bid or offer related to a potential transaction and there can be no assurance that Mr. Baazov's notice will result in a formal bid or offer or that any such bid or offer will ultimately result in a completed transaction. Shareholders of Amaya do not need to take any action with respect to any potential proposal at this time. Amaya intends to provide updates if and when necessary in accordance with applicable securities laws.
We seek Safe Harbor.
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