Operator News
Czechia – Far East considering spin-off and separate listing of TransWorld’s Czech casinos
By Phil - 6 June 2023
Far East Consortium International is considering a potential spin-off and separate listing on the Stock Exchange of the Group’s Czech gaming business.
This business comprising the group’s three casinos and one ancillary hotel in Czechia and German and Austrian hotel business, comprising the Group’s three hotels in Germany and one hotel in Austria) which are currently held by Trans World Hotels & Entertainment, an indirect non-wholly owned subsidiary of the company.
The company stated: “In connection with the Potential Spin-off, the company has submitted a proposal to the Stock Exchange pursuant to Practice Note 15 of the Listing Rules, and the Stock Exchange has agreed that the Company may proceed with the Potential Spin-off. The Potential Spin-off, if materialised, may constitute a notifiable transaction of the Company under Chapter 14 of the Listing Rules. As at the date of this announcement, the details of the Potential Spin-off have yet to be finalised. The Company will comply with the relevant Listing Rules requirements and make further announcement(s) in connection with the Potential Spin-off as and when appropriate or required in accordance with the requirements of the Listing Rules.”
