Amaya INC governance has met with shareholders at yesterday’s Annual General Meeting (AGM), discussing the company’s current position regarding the potential management takeover by former CEO & Chairman David Baazov.
Company stakeholders remained tight-lipped regarding discussions, disclosing no information to news sources (media were not allowed at the AGM).
The AGM was the first meeting between Amaya governance and investors since Baazov took voluntary leave as Amaya CEO in March, to address ongoing charges by Quebec’s AMF relating to insider trading concerning Amaya’s 2014 acquisition of Rational Group assets PokerStars and Full Tilt.
“We’re treating it the way we feel appropriate for shareholders this year,” Amaya spokesman Eric Hollreiser said outside the meeting. Interim CEO Rafi Ashkenaz declined to speak with reporters.
Amaya’s turbulent position has seen it garner significant speculation regarding its future, with business news sources stating that a number of parties are interested in acquiring the company.
In a recent news release, Amaya governance detailed that “one more group recently entered the process”, as its special board committee continues to review strategic alternatives with Barclays Capital acting as its advisor.
However, M&A analysts have stated that Baazov’s current position and influence on the company may hinder an outside acquisition as he currently 17% of Amaya’s stock as its largest individual shareholder.
New York-based institutional investor Jason Ader, a former activist shareholder in bwin.party described Amaya as an ‘interesting company with great assets and lots of value’.