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Search Our Archive of Gaming Articles Increase Share Capital from Company Funds

15 June 2005

VIENNA, Austria – (PRESS RELEASE) -- Interactive Entertainment AG will implement the increase in share capital from company funds ("capital adjustment") approved by the Annual General Meeting of 10 May 2005 by issuing bonus shares at a ratio of 1:1 on the Vienna Stock Exchange on 22 June 2005. This capital adjustment was entered into the companies register on 11 June 2005. The adjustment on the Vienna Stock Exchange will be made with effect from 22 June 2005. Thus when trading begins on 22 June 2005, a total of 24,586,652 ordinary shares in the company will be listed on the stock exchange instead of the previous 12,293,326 shares.

Each of the company's shareholders will automatically receive one bonus share credited to his account free of charge for each betandwin share in his possession.

As a result of this capital adjustment (transfer of reserves to share capital), the company's share capital will be doubled from EUR 12,293,326 to EUR 24,586,652. betandwin will not receive any new funds as a result of this move.

Simultaneously with the registration of this capital adjustment, employee share options already granted from conditional capital, but not yet exercised, as well as options granted from authorised capital, but not yet exercised, have been doubled, and their exercise price halved so as to maintain their market value constant.

This capital adjustment (current legal regulations made it impossible to carry out a share split, since the prorated nominal value of a share must be at least one euro in Austria) takes into account the rapid rise in the price of betandwin shares in recent months. As a result of this increase in the company's share capital, the price of betandwin shares will stand at half its previous level when trading commences on 22 June 2005. This will increase the tradability of betandwin shares in the interests of small shareholders.

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