The last shares of former PokerStars parent company The Stars Group will disappear within the next two weeks. The new owners of Flutter Holding have issued a final notice to shareholders to convert the TSG shares into Flutter.
Holders have until May 4, 2023 to transfer their assets to the new brand. After this date, all shares in The Stars Group will have no value and will no longer be publicly traded.
After months of negotiations, the merger between The Stars Group and Flutter was completed on May 5, 2020. The requirement to convert all shares is one of the conditions of incorporation.
“TSG shares must be converted into Flutter shares within three years of the effective date of the original merger transaction,” until May 4, 2023, the filing said.
This will give all wealth holders a last chance to avoid losing their money. The value of the shares is also detailed ahead of time. Each TSG share is redeemable for 0.2253 FLTR shares.
FLTR is currently trading at approximately $100 per share, so each unconverted TSG share is worth approximately $22. Expect the same in the next ten days if Flutter’s conditions are met.
The remaining assets are likely to decrease between 2014 and 2020. At this time, the shares of the Star Group are traded on multiple exchanges at the same time, and anyone who wants to buy shares of the group can do so. Also, Rational Enterprises may have left some assets behind in the 2000s when PokerStars was just starting to rise online.
In any case, the era of Amaya and The Stars Group is coming. The end: On May 5th, they became Flutter, the former name only in the minds of poker players.