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2 Jul 2019 07:00
For immediate release | 2 July 2019 |
Sportech PLC
('Sportech', the 'Group' or the 'Company')
Directorate Changes
Sportech PLC (LSE: SPO), the international betting technology business, announces today that the Group's Interim Executive Chairman, Richard McGuire, has been appointed as the Group's Chief Executive Officer. Giles Vardey, who joined the Company as a Non-Executive Director on 17 November 2017, will become Non-Executive Chairman. Both appointments are with immediate effect.
Richard McGuire joined the Sportech Board in 2016 as a Non-Executive Director prior to becoming Non-Executive Chairman and then Interim Executive Chairman. To support the US business strategy, he relocated earlier this year to Connecticut, where the Group's US headquarters are situated. He also invests significant time in the Group's UK, European and Asian interests. Richard is well known to the Group's clients and employees and has more than 30 years' financial and corporate experience across the gaming, technology and horseracing industry having served in senior positions with other leading international companies.
Giles Vardey joined the Sportech Board in 2017 as a Non-Executive Director. He has more than 37 years of business and boardroom experience. Giles' executive career was in the financial services industry where his roles included Chief Executive of Greig Middleton and President and CEO of Fidelity Brokerage Services. For five years he was Director of Markets Development and Marketing at the London Stock Exchange prior to which he held senior investment banking positions at firms including Salomon Brothers, County NatWest and Swiss Bank Corporation.
Mr McGuire and Mr Vardey are currently Directors of the Company and there are no further details in respect of Mr McGuire or Mr Vardey to be disclosed pursuant to LR 9.6.13 of the Listing Rules.
Chris Rigg, the Group's Independent Non-Executive Director, will chair the Audit Committee and Giles Vardey, will continue to chair the Remuneration and Nomination Committees.
The Board continues to review candidates to identify an additional independent non-executive candidate to further strengthen the Group.
A copy of this announcement is also available on the Company's website at www.sportechplc.com.
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Contacts:
Sportech PLC |
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Giles Vardey, Non-Executive Chairman | Tel: +44 (0) 117 902 9000 |
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Peel Hunt |
Tel: +44 (0) 20 7418 8900 |
(Corporate Broker to Sportech) Dan Webster / George Sellar / Guy Pengelley |
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Buchanan | Tel: +44 (0) 20 7466 5000 |
(Financial PR adviser to Sportech) Henry Harrison-Topham / Mark Court |
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Notes to Editors:
About Sportech
Sportech PLC, the international betting technology business, provides and operates betting technology solutions for some of the world's best-known gaming companies, sports teams, lotteries, and horse and greyhound racetracks, as well as owning and operating its own gaming venues in Connecticut under exclusive licences.
The Group focuses on highly regulated markets worldwide. It has more than 27,000 betting terminals deployed to over 400 clients in 37 countries. Its global systems process US$12 billion in betting handle annually. In the US, it operates under 35 licences across 37 states. The Group has invested over US$60 million in the last five years in the successful expansion of its US gaming Venues and in developing its technology services, resulting in its proprietary Quantum™ System being the most widely deployed pari-mutuel betting system globally.
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