March 7, 2017 / 10:44 PM / a year ago

Former Amaya CEO sells some shares, pockets C$133 million

TORONTO, March 7 (Reuters) - David Baazov, who is facing insider trading charges stemming from his time as chief executive officer of Amaya Inc, said on Tuesday that he pocketed C$133 million ($99 million) from the sale of close to 30 percent of the shares he held in the online gambling company.

Baazov said he sold 7 million Amaya common shares, or 4.8 percent, at C$19 each. He retains some 17.6 million Amaya shares, or 12.1 percent of the company, which owns the PokerStars website.

Amaya shares closed up 5.8 percent at C$20.06 on Tuesday.

Baazov called off talks to buy Amaya in December.

He was charged with insider trading by Quebec’s securities regulator in March last year, two months after he first offered to take Amaya private. His trial is due to start in November.

The charges followed an investigation into Baazov and other executives in 2014 for trading in Amaya’s stock ahead of its $4.9 billion takeover of Rational Group, the owner of PokerStars. ($1 = 1.3413 Canadian dollars) (Reporting by Alastair Sharp; Editing by Leslie Adler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below