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Online Bingo Operator Completes Merger With Subsidiary

Online bingo operator Bingo.com, Inc., announced that it completed a merger with its wholly owned subsidiary, Bingo.com, Ltd. The company's main product is online Bingo portal Bingo.com, which offers free games including multiplayer bingo, video poker, sweepstakes, slot machines, and more.

Following the merger, Bingo.com, Inc. will now become part of Bingo.com, Ltd., which is based in the tax-friendly Anguilla, British West Indies. Tax concerns were the main consideration leading to the merger, with Anguilla being a tax free zone for corporate ventures.

Starting on Thursday April 7th, Bingo.com, Ltd. shares began trading under "BNGOF," the company's new ticker symbol. As part of the merger, Bingo.com, Inc. shareholders will automatically become Bingo.com, Ltd. shareholders, with no additional action required. This being said, should Bingo.com, Inc. shareholders wish to trade share certificates of Bingo.com, Inc. for share certificates of Bingo.com, Ltd., they will need to file a transmittal letter.


Source: Dot-Bingo News Writer

Saturday, 9 April 2005

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