Cryptologic Acquisition Update

Cryptologic Acquisition Update With shareholders' support Amaya extends offer to April 18

Industry software veteran Cryptologic and Montreal-based Amaya Gaming released a statement in which they announced that, though making some progress, the acquisition offer has been extended to April 18, and it is unconditional.

By Wednesday Amaya received valid acceptances which would give the Montreal company control over 11,171,318 shares, representing approximately 80.79 percent of the issued share capital of CryptoLogic. The acceptances cover a total of 10,199,689 CryptoLogic shares, which represents approximately 73.76 percent of Cryptologic issued share capital and 79.34 percent of its shares to which the offer relates.

CryptoLogic shares with valid acceptances received, and possibly counted towards the acceptance condition, include:

(i) acceptances received in respect of 11,000 CryptoLogic shares (representing approximately 0.08 per cent. of the issued share capital of CryptoLogic) subjected to irrevocable undertakings received from the CryptoLogic directors; (ii) acceptances received in respect of 2,048,580 CryptoLogic shares (representing approximately 14.82 percent of the issued share capital of CryptoLogic) subjected to undertakings received from Jemekk Capital Management Inc., Birkenshaw & Company Ltd. and K2 & Associates Investment Management Inc.

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