Pollard Banknote Completes Reorganizing of Common Shares

Most recently, Manitoba-based Pollard Banknote announced that it has completed the transaction of 5,768,386 common shares to three companies. It was revealed that 5,768,386 shares were sent to JSP Equities Limited, with the same amount going to Park Equities Limited and another 5,768,386 issued to Oak Equities Limited. Thus, reorganizing the holdings of shares.

Jointly controlled by John Pollard, Douglas Pollard and Gordon Pollard is a premier lottery partner to more than 60 lotteries across the industry. It provides instant ticket products, licensed games, in-lane ticket options, and sales-driving merchandising solutions from its Schafer Retail Solutions + portfolio. While also offering a full suite of digital offerings to its partner.

Terms of the Transaction

As per the transaction, the consideration to the company in connection with the common share transfers was CA$32.50 per common share. This was the closing of the transaction of shares on the Toronto Stock Exchange on December 28, 2023, or CA$562,417,635 in the aggregate for 17,305,158 shares. The transfer happened in combination with the transfer of other assets.

Before the completion of the transaction, Pollard Equities Limited had 17,305,158 common shares or approximately 64.2% of the issued and outstanding common shares. After the approval of the transfer, PEL holds on common shares, and each of John Pollard, Gordon Pollard and Douglas Pollard exercises control over 5,768,386 shares or approximately 21.4% of the issued and outstanding common shares.

Regarding the transfer, each Pollard family member, JSP Equities Limited, Park Equities Limited, Oak Equities Limited and their respective shareholders have entered into a shareholder’s agreement regarding the common shares. Under the shareholder’s agreement, the parties agree to vote their shares in the same manner, collectively, as a single block.

End of 2023 Highlights

In December 2023, Pollard Banknote joined lotteries and organizations in North America in the 2023 Gift Responsibly Campaign. Organized by the National Council on Problem Gambling and the International Centre for Youth Gambling Problems and High-Risk Behaviours at McGill University, its purpose is to raise awareness of the risks of youth gambling.

Responsible gaming policies can be found across all businesses of the lottery provider, starting from the careful design of scratch tickets to appeal strictly to adults, and tools imbued as core components in its digital solutions. This way the supplier ensures that its lottery products abide by the highest standards of quality, fairness, and safety.

In the fall of last year, the leading lottery provider also praised its long-term partner, the Idaho Lottery in the U.S. on a record-setting fiscal year in 2023. The lottery reported an all-time high in revenues of US$422 million, providing approximately US$82 million to support public education and the State’s Permanent Building Fund. The two have been partners since 2013.

Source: “Early Warning Release” PR Newswire, January 2, 2024