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25 Aug 2021 17:00
For immediate release | 25 August 2021 |
Sportech PLC
("Sportech" or the "Company")
Capital Reduction
Sportech (AIM: SPO), an international betting technology business, is pleased to announce that, following the approval by shareholders at a general meeting held on 23 August 2021, the process to reduce its share capital (the "Capital Reduction") to create a distributable reserve necessary to implement its tender offer (the "Tender Offer"), has commenced.
Further details concerning the Capital Reduction and the Tender Offer are set out in the circular sent to the Company's shareholders dated 6 August 2021.
Following a hearing at the Court of Session at Edinburgh earlier today, the Court has ordered that the Company advertise its Petition and seek answers thereto. Following that advertisement and the fixing of the date for the final hearing, the Company will announce the expected timetable for the next steps of the Capital Reduction and the Tender Offer.
- Ends -
Contacts: | |
Sportech PLC Giles Vardey, Chairman Richard McGuire, Chief Executive Officer Tom Hearne, Chief Financial Officer
|
enquiries@sportechplc.com |
Peel Hunt (Nominated Adviser & Broker) George Sellar Andrew Clark Will Bell
| Tel: +44 (0) 20 7418 8900 |
Buchanan (Financial Communications) Henry Harrison-Topham Jamie Hooper George Beale | Tel: +44 (0) 20 7466 5000 sportech@buchanan.uk.com |
Notes to Editors:
About Sportech
Sportech PLC, an international betting technology business, delivers solutions and services for gaming companies and lottery clients in highly regulated markets. Sportech also owns and operates gaming venues and digital betting platforms in Connecticut under exclusive licences.
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