Gentoo Media's proposal to delist shares from Oslo Børs

30 January 2025
(PRESS RELEASE) -- The Board of Directors of Gentoo Media Inc. has resolved to initiate a process to delist the company's shares from Euronext Oslo Børs while maintaining the listing of the shares on Nasdaq Stockholm. In the Board of Directors’ opinion, liquidity in the company's shares and thereby shareholder value will benefit from being traded on Nasdaq Stockholm only, and the company has received signals to the same effect from certain principal investors as well as from other market participants.
Since 2019, the shares of Gentoo have been dual listed on Euronext Oslo Børs and Nasdaq Stockholm. Shareholders have had the possibility to trade in the share on both exchanges and across the exchanges. The company has seen a shift in investor focus from Norway to Sweden, which at the time of the dual listing was already a hub for the iGaming industry. In parallel, the number of holders of shares on Euronext Oslo Børs has gradually decreased, in part due to such shareholders have moved their shares to Nasdaq Stockholm. Liquidity in the shares trading in Oslo has also been limited. In addition, the company believes that liquidity in the shares trading in Stockholm could benefit from the shares not being dual listed in Oslo and Stockholm.
A delisting is subject to approval from a shareholders' meeting and Euronext Oslo Børs approving an application to delist the shares. The Board of Directors will call for a special meeting of shareholders mid-March for approval of the delisting. Subject to shareholder approval, an application to delist will we submitted, and given an approval from Euronext Oslo Børs, a delisting is expected to be effected by the end of Q2 2025.