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Latest Update on Probable Offer by Amaya Gaming Group for CryptoLogic

According to the latest report, the CryptoLogic board announced a potential offer to obtain the whole released ordinary capital share of the company, which is dubbed as the "potential offer". This is on the grounds of the so-called "potential offer", allowing Amaya Gaming Group to perform an assenting due diligence.

Based on "the code" or in accordance of the so-called, CCTM (City Code on Takeovers and Mergers, Rule 2.6a) stated that Amaya must either proclaim a rigid intent to formulate an offer, or to declare that it has no intent to do an offer with the Company not later than 5:00pm on January 12th 2012. However, the deadline can be extended only with the Board Panel's consent that is based on the Rule 2.6(c) stated on the so-called "the Code". Today, the Board has made a request to the Panel to lengthen the present deadline of January 12th so that Amaya will have ample time to finish the process of due diligence and other financial preparations. Further announcements would be made available once it is fully finalized.