..

Youbet.com extends, modifies stock buyback plan

Written by:
Guest
Published on:
Apr/02/2009

Online gambling companyYoubet.com Inc. said Wednesday it has extended and modified its stock buyback plan and adopted a shareholder rights plan, something companies typically use to prevent an unsolicited takeover.

Youbet said that under its shareholder rights plan, if anyone acquires 4.9 percent or more of its outstanding shares without board approval, their voting power will automatically diminish significantly.

Existing shareholders who already owned 4.9 percent or more of the company's shares Tuesday will only trigger this if they acquire more shares.

The company's chief executive, Michael Brodsky, said the rights plan "is not intended for defensive or anti-takeover purposes" and it's being used to preserve shareholder value.

Youbet.com (nasdaq: UBET - news people ) also extended a share repurchase plan that was set to expire Tuesday. As part of the modified plan, Youbet is authorized to buy up to 10 percent of its outstanding shares as of March 31.

As of Dec. 31, the latest figures available from the Securities and Exchange Commission, the company had about 41.5 million outstanding shares.

Shares closed down a penny at $1.68.

Gambling News

Bucks-Nets Elimination Game 7 Odds, Prop Bets

Bucks-Nets Elimination Game 7 Odds, Prop Bets

Bucks-Nets prop bets have Giannis Antetokoumpo of Milwaukee paying out $400 for every $100 bet should he be the first scorer.

Sports Betting Beat - June 19, 2021

Sports Betting Beat - June 19, 2021

Why D.C. sports betting is failing, Canada sports betting deadline looms, PA sports betting handle down but revenue up in May.

Germany vs. Portugal Euro 2020 Prop Bets

Germany vs. Portugal Euro 2020 Prop Bets

In addition to prop bets on Sunday's Euro 2020 match between Germany and Portugal, we also have some top trends and picks.

Italy vs. Wales Euro 2020 Prop Bets

Italy is coming in at 4/9 odds, Wales 7/1 and the draw at 3/1 odds. 

How to Spot Sharp Players?

How to Spot Sharp Players?

It's important to know about all the benefits that come for bookies once you decide to join a good Price per Head provider. There are different tools at your disposal that make a lot of difference when you're starting your own sportsbook operation. 

Syndicate