SciPlay Corporation has announced that its Board of Directors has formed a special committee of independent directors co-chaired by Mr. Gerald Cohen and Ms. April Henry, and with Mr. Michael Marchetti and Mr. William Thompson serving as members.
The Special Committee has been granted full authority to independently review and evaluate the non-binding proposal that the Board received from Light & Wonder, on May 18, 2023, proposing that Light & Wonder acquire the remaining 17 per cent equity interest in SciPlay that it does not already own for $20.00 per share in cash.
The Special Committee has retained Lazard as its financial advisor and Sullivan & Cromwell LLP as its legal counsel in connection with its review and evaluation of the Proposed Transaction.
The company cautions its shareholders and others considering trading in its securities that neither the Board nor the Special Committee has made any decision with respect to the Proposed Transaction. There can be no assurance that any definitive offer will be made by Light & Wonder, that a definitive agreement will be executed relating to the Proposed Transaction or that this or any other transaction will be approved or consummated.
The Company and the Special Committee do not intend to comment further about the Proposed Transaction unless and until they deem further disclosure is appropriate or as required under applicable law.