Evoke (LON:EVOK) used its 2025 Annual General Meeting to address shareholders following the company’s announcement of a recommended acquisition by Bally’s Intralot, with Chair Mark Summerfield saying the board unanimously supported the proposed transaction after a strategic review.
Summerfield, who said he was appointed chair in October 2025 after serving on the board for more than five years, opened the AGM in London and said the board would return to the acquisition announcement in his remarks. He was joined by non-executive directors Andrea, Ori and Susan, as well as Chief Executive Officer Per and Chief Financial Officer Shaun.
Board Says Deal Followed Strategic Review
“Those changes represented a material shift in the economics of the regulated U.K. market and prompted the board to consider the full range of strategic options available to protect and maximize shareholder value,” Summerfield said.
He said the board undertook a comprehensive process and considered a range of alternatives before concluding that the proposed combination with Bally’s Intralot was “the most attractive and deliverable option available to shareholders.”
Combination Would Bring Together Evoke Brands and Intralot Resources
Summerfield said the board believes the transaction would combine Evoke’s brands, including William Hill, 888 and Mr Green, with Intralot’s international scale, technology platform and financial resources.
He said the board believes the enlarged business would be “stronger” and “more diversified,” with improved growth opportunities and a more sustainable capital structure. Summerfield also said the proposed structure would allow Evoke shareholders to participate in future value creation through ownership in the enlarged group.
The chair emphasized that the transaction remains subject to shareholder, court and regulatory approvals. He said further details would be provided to shareholders in due course.
Chair Highlights 2025 Operating Progress
Summerfield said the acquisition announcement should not overshadow the progress Evoke made during 2025. He said the group delivered improved profitability on an adjusted basis and made operational progress through the continued execution of its value creation plan.
According to Summerfield, Evoke sharpened its focus on core markets, improved marketing efficiency, delivered structural cost savings and continued to strengthen its operational model.
“These achievements reflect the dedication and professionalism of colleagues across the group and demonstrate the underlying quality of the business we have built,” Summerfield said.
He thanked employees for their commitment and resilience during what he described as “a year of considerable change and increased uncertainty.” He also thanked shareholders for their continued support and engagement.
AGM Business Conducted by Poll
At the meeting, Summerfield declared the AGM open after confirming that the necessary quorum was present. He said resolutions one through 16 were set out in the notice of meeting, which was made available to shareholders on May 11.
Voting on the resolutions was conducted by poll. Summerfield appointed Company Secretary Elizabeth Bisby as scrutineer and said votes would be verified against the register of members. He also reminded shareholders that a vote withheld is not counted as a vote in law and would not be included in the calculation of votes for or against a resolution.
Shareholders attending through the Investor Meet Company online platform were invited to submit questions, though they could not vote through the platform. Summerfield said shareholders unable to attend in person had been encouraged to vote by proxy or form of direction.
After reviewing whether any questions relevant to the business of the AGM had been received, Summerfield said there appeared to be none. He then closed the meeting. The company said the poll results would be announced through the London Stock Exchange and posted on Evoke’s website as soon as practicable after the meeting.
