ebet takeover of rival turbo imminent

EBET LIMITED 2002-11-28

eBet Limited today advised that completion of the acquisition of the Turbo Bonus business was not possible yesterday due to the unavailability of certain signatories. Completion is set down to occur Friday, 29 November 2002.

It is anticipated that eBet Limited will complete the issue of convertible notes pursuant to its prospectus dated 10 October 2002 simultaneously with the completion of the acquisition of the Turbo Bonus business. Trading in convertible notes on ASX will commence within 4 business days of completion, expected to be 4 December 2002.