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THE ESPORTS ADVOCATE

Astralis Shareholders Approve Move to Delist From the Nasdaq First North Growth Market Denmark

Danish esports organization will go private as it weighs options including a sale of equity or an outright acquisition.

James FudgebyJames Fudge
August 8, 2023
in Counter-Strike, League of Legends, Money
Reading Time: 2 mins read
Astralis shareholders vote to delist from Nasdaq First North Growth Market Denmark

Credit: Astralis

On July 11, it was announced that publicly-traded, Danish esports organization Astralis announced an “Extraordinary General Meeting” on Aug. 8 (today) to let shareholders decide if the company would delist from the Nasdaq First North Growth Market Denmark. 

On Tuesday the company announced that shareholders voted to delist the company:

“The delisting of Astralis A/S from Nasdaq First North Growth Market Denmark was adopted, and the board and management will now proceed with the application for delisting from Nasdaq First North Growth Market Denmark,” the company wrote in an announcement Tuesday. “The company will issue a company announcement when the application has been submitted.”

This vote to move away from being a publicly-traded company is not particularly shocking; in March that the board of directors announced that the company would undergo a strategic review of the business and consider serious changes to its operations, including delisting the company’s shares (going private), issuing new shares, or a sale of the company’s shares and assets.

In July, the company outlined what would happen if a delisting was approved:

“If the request is approved, the Company’s share will continue to be tradable for a period of 10 weeks from the date of approval before the Company’s share is deleted from trading on Nasdaq First North Growth Market Denmark (the ‘Continued Trading Period’). The Company will publish a company announcement in connection with the submission of and response to this request. During the Continued Trading Period, the Company’s shareholders are not obliged to sell their shares.”

Where the company goes from here is anyone’s guess,  but as previously indicated, it could sell more equity or seek an outright acquisition. we will continue to follow this story as it develops.

Tags: AstralisBoard of DirectorsCounter-StrikeDelistingDenmarkEuropeLECNASDAQ
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James Fudge

James Fudge

With a career spanning over two decades in the esports and gaming journalism landscape, James Fudge stands as a seasoned veteran and a pivotal figure in the evolution of esports media. His journey began in 1997 at Game-Wire / Avault, where he curated gaming and community news, laying the groundwork for his expertise in the field. In his more recent roles, James cemented his status as an authority in the esports business sphere as Senior Editor Esports at Sports Business Journal and The Esports Observer between 2018 and 2021.

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