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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Seven Aces Ltd    ACES   CA81782W1032

SEVEN ACES LTD

(ACES)
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SEVEN ACES : SHAREHOLDERS OVERWHELMINGLY APPROVE GO-PRIVATE TRANSACTION WITH TRIVE CAPITAL

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08/06/2020 | 06:33am EDT

Seven Aces Limited (the 'Company' or 'Seven Aces') (TSXV: ACES, OTC: ACEXF) is pleased to announce that shareholders of Seven Aces ('Shareholders') voted to approve the Arrangement (as defined below) at its special meeting of Shareholders held earlier today (the 'Meeting').

The purpose of the Meeting was to consider and vote upon a special resolution of Shareholders (the 'Arrangement Resolution') approving the transactions contemplated in the arrangement agreement among the Company and affiliates of Trive Capital Management LLC ('Trive Capital') dated June 11, 2020, as amended on July 30, 2020, pursuant to which, among other things, an affiliate of Trive Capital will acquire all of the issued and outstanding common shares of the Company (the 'Common Shares') by way of a court-approved plan of arrangement (the 'Arrangement'), other than those Common Shares held by Ascendant Group Holdings Inc. or an affiliate thereof (the 'Rollover Shareholder'), a company controlled by Mr. Manu Sekhri (CEO of the Company).

About Seven Aces Limited

Seven Aces Limited is a gaming company, with a vision of building a diversified portfolio of world class gaming operations. The Company looks to enhance shareholder value by growing organically and through acquisitions. Currently, the Company is the largest route operator of skill-based gaming machines in the State of Georgia, United States of America.

About Trive Capital

Trive Capital is a Dallas, Texas based private equity firm managing approximately US$2 billion in aggregate capital commitments. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. Trive seeks to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

Contact:

Tel: (647) 228-8668

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials (USD)
Sales 2019 79,3 M - -
Net income 2019 0,52 M - -
Net Debt 2019 83,8 M - -
P/E ratio 2019 172x
Yield 2019 -
Capitalization 162 M 164 M -
EV / Sales 2018 1,64x
EV / Sales 2019 1,98x
Nbr of Employees 3
Free-Float 65,9%
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Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 2,76 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers
NameTitle
Manu K. Sekhri President, Chief Executive Officer & Director
Chad Patrick Williams Chairman
Ryan Bouskill Chief Financial Officer
Sheila Ogilvie-Harris Independent Director
Peter James Shippen Independent Director
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