Results of Extraordinary General Meeting 2020 Written Consents of Davy and Goldman Sachsĭownload Results of Extraordinary General Meeting 2020Ģ020 EGM combination with The Stars Group, Inc.Īn Extraordinary General Meeting of the shareholders of Flutter Entertainment plc was held on 21 April 2020 at Arthur Cox, Ten Earlsfort Terrace, Dublin 2, D02 T380, Ireland at 11.00 am to approve the all-share combination with The Stars Group. In this case, those shares belong to the startup's minority shareholders, which include its founders.įanDuel's founders' loss is a classic case of the dangers of a sky-high valuation, in which the founders' original shares are so diluted that their original involvement reaps little compensation when it comes time to sell the company.An Extraordinary General Meeting of the shareholders of Flutter Entertainment plc was held on Tuesday 29 December 2020 at Arthur Cox, Ten Earlsfort Terrace, Dublin 2, D02 T380, Ireland at 11.00 am to approve the acquisition of 37.2% of FanDuel Group Parent LLC.Ĭircular including Notice of Extraordinary Meeting The deal stipulates that 'no part' of the payable offer will go to the 'company's ordinary shares,' along with no options to purchase the company's ordinary shares.

None of the original co-founders still work at FanDuel, and it doesn't look like their original efforts will be rewarded - according to the deal documents, they're not going to make any money at all off of the company's sale. Of course, it's not clear what the financial terms were surrounding their departures from the company, and they could have negotiated a pay packageīecause the amount FanDuel is being sold for is hardly more than the amount its investors originally gave, its co-founders are losing out. In this case, the minority shareholders are FanDuel's original founders, Nigel and Lesley Eccles, Tom Griffiths, Rob Jones, and Chris Stafford. Now, those investors are cutting FanDuel's founders a raw deal: As majority shareholders, they're exercising their 'drag along rights,' which allow them sell the company, even if the minority shareholders don't want to. Account icon An icon in the shape of a person's head and shoulders.

Paddy power fanduel