Cryptologic Shareholder Considers Acquisition Possibilities


02nd September, 2011 at 04:44:00

Company's strategy provides no creation of value for shareholders

Thousand Hills Limited, a 19.9% shareholder in veteran online gambling software developer CryptoLogic Ltd, is considering its options with regard to its stake in the company.

An acquisition offer for part of the business and its assets is a possibility said the shareholder according to a Thomson Reuters report.

Thousand Hills Ltd believes that CryptoLogic's current business strategy has not resulted in the creation of value for shareholders.

Following its marginally improved Q2-2011results announcement last month (August), CryptoLogic management's continuing strategic review of the company resulted in the appointment of Deloitte Corporate Finance as a financial advisor.

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