NEW YORK, July 18, 2018 (GLOBE NEWSWIRE) -- GSO Capital Partners LP (“GSO”), in its capacity as investment manager or advisor of certain funds (the “GSO Funds”), announces that, as a result of the previously announced mandatory conversion by The Stars Group Inc. (“The Stars Group”) of all of its issued and outstanding convertible preferred shares (the “Preferred Shares”) into common shares (the “Common Shares”) of The Stars Group effective as of today (the “Preferred Share Conversion”), the beneficial ownership of the GSO Funds, and control or direction by GSO over, Common Shares decreased to less than 10% of the outstanding Common Shares.
As previously disclosed by GSO, prior to the Preferred Share Conversion, the GSO Funds beneficially owned, and GSO had control or direction over, approximately 498,633 Preferred Shares and 85,000 vested options over which a former consultant to The Stars Group granted GSO the sole right to direct his exercise of interests and rights (the “Options”).
Further to the Preferred Share Conversion, the GSO Funds beneficially own, and GSO has control or direction over, approximately 26,282,197 Common Shares and the Options. On a partially diluted basis, assuming exercise of the Options (but assuming no exercise, conversion or exchange of any other options, warrants or convertible securities of The Stars Group outstanding on the date hereof), on the basis of approximately 270,049,509 Common Shares issued and outstanding further to the Preferred Share Conversion, the GSO Funds have beneficial ownership of, and GSO has control or direction over, approximately 9.8% of the issued and outstanding Common Shares of The Stars Group.
The GSO Funds and GSO may, depending on market and other conditions, change their beneficial ownership of (or control or direction over) securities of The Stars Group.
GSO will be filing an early warning report under the SEDAR profile of The Stars Group at www.sedar.com. A copy may also be obtained by contacting Christine Anderson, (212) 583-5182. The head office of The Stars Group is located at Royal Bank Plaza, South Tower, Suite No. 3205, 200 Bay Street, Toronto, Ontario M5J 2J5.
GSO Capital Partners LP
345 Park Avenue
31st Floor
New York, NY 10154 USA