Playtech Regulatory News (PTEC)

Playtech PLC

('Playtech' or the 'Company')

Update on Board Succession

Notice of Annual General Meeting

Update on Board Succession

Playtech is pleased to announce that Claire Milne has been appointed as Interim Chairman. The appointment will take effect from the conclusion of the Company's Annual General Meeting ('AGM') on 20 May 2020. Claire will succeed Alan Jackson, who had previously indicated he would not be standing for re-election at the AGM and will therefore step down from the Board immediately prior to the meeting.

Claire has served as a Non-Executive Director of Playtech since July 2016 and is the Chairman of the Risk Committee, and a Member of the Remuneration and Nominations Committee.

As announced in February, the recruitment of a new Chairman was at an advanced stage when the COVID-19 Pandemic began its global impact. However, considering the current business and market environment, it has been decided to delay the process of appointing a permanent Chairman. This decision took account of the travel restrictions which inevitably impacted on the ability to conclude the comprehensive process to select a new Chairman, and the ability to carry out an effective induction programme for any external appointee to get to know the business, and to meet regularly with the CEO, CFO, Board Members and senior management internationally at this important time.

The Board is therefore delighted that Claire has agreed to become the Chairman on an interim basis, providing the continuity and stability that will significantly aid the Company at this time. The process to appoint a permanent Chairman will conclude once the business and market environment normalise.

Claire Milne, incoming Interim Chairman, said:

"The impact of the COVID-19 Pandemic has led us to temporarily pause the final stages of our recruitment process. I am very pleased to have been asked to act as Interim Chairman and will look to provide the necessary continuity ahead of the process concluding. On behalf of the Board and the entire management team, I would also like to thank Alan for his service to Playtech, and for his enthusiasm and his dedication to the business as a Non-Executive director since our IPO in 2006 and, in particular, as our Chairman for the last 7 years."

The remuneration for the Interim Chairman of Playtech has been set at £290,000 per annum. However, following the Board's decision to implement a pay reduction of 20% for executive and non-executive directors with effect from 1 April 2020 in response to the COVID-19 situation, the Interim Chairman's annual remuneration shall be £232,000 for the immediate future.

Notice of Annual General Meeting

Playtech announces that its 2020 Annual General Meeting ('AGM') will be held in the Isle of Man at 10.00 am on Wednesday 20 May 2020. In order to meet current government restrictions in place with respect to COVID-19, shareholders are not able to attend this year's AGM in person. Shareholders can submit questions in advance of the meeting as outlined in the AGM notice.

In accordance with Listing Rule 9.6.1, copies of the AGM notice and Annual Report have been submitted to the National Storage Mechanism and are available to view at www.morningstar.co.uk/uk/NSM and on the Company's website www.investors.playtech.com/annual-reports.

- ENDS -

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About Playtech

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.

Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates a leading sports betting and gaming brand in online and retail in Italy, Snai.

Playtech's Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.

Playtech has in total c.6,000 employees across 21 countries and is headquartered in the Isle of Man.