Betmakers Technology Group Ltd (ASX:BET) entered into a share purchase deed to acquire Punting Form from JJ Ventures Limited and Hkelly Holdings Pty Ltd for AUD 3 million on October 24, 2022. Betmakers Technology Group Ltd will pay initial consideration of AUD 3 million in cash and Potential earnout of AUD 17 million in cash or equity. Punting Form will become part of BetMakersÆ Global Betting Services division. BetMakers being satisfied with the results of due diligence enquiries, BetMakers obtaining all necessary board and shareholder approvals and sourcing sufficient funds to pay the purchase price, BetMakers and JJ Ventures Limited and Hkelly Holdings Pty Ltd obtaining all necessary regulatory approvals, consents and waivers, JJ Ventures Limited and Hkelly Holdings Pty Ltd obtaining any required approvals from counterparties to certain material contracts, BetMakers being satisfied that certain minimum working capital and net tangible asset conditions will be satisfied as at Completion, BetMakers being satisfied that JJ Ventures has acquired all remaining shares in Punting Form that are not held by the Vendors as at the date of this announcement and certain key employees signing employment agreements with Punting Form.
Betmakers Technology Group Ltd (ASX:BET) completed the acquisition of Punting Form from JJ Ventures Limited and Hkelly Holdings Pty Ltd on November 1, 2022. Punting Form will become part of BetMakersÆ Global Betting Services division.