On January 11, 2019, ZEAL Network SE rejects the non-binding, conditional and indicative offer from Lottoland Holdings for the purchase of assets of the ZEAL Group representing the core of the German business as currently operating under the Tipp24 brand as significantly inadequate. The cash purchase price offered by Lottoland, subject to due diligence, ranges from EUR 60 million to EUR 76 million. The Executive Board of ZEAL has reviewed the proposed indicative offer from Lottoland on the basis of the publicly available disclosure from Lottoland and on internal valuations made ahead of the announcement of the Lotto24 transaction.

Based on this review, the Executive Board rejects the offer as significantly inadequate. Even at the high end of the implied price range indicated by Lottoland, the offer neglects the fundamental value of the German core business of ZEAL.