30 May 2017 07:00
30 May 2017
Sportech PLC ("Sportech" or the "Company")
£83m Sale of The Football Pools - Gambling Commission Licence Granted
All conditions relating to the sale of the Football Pools have been satisfied
Sportech is pleased to announce that it has been informed by OpCapita (via its acquisition vehicle FP Acquisition Limited) that it has been granted a licence by the Gambling Commission.
As a result, all conditions relating to the sale of The Football Pools business have now been satisfied and completion of the transaction will occur before the end of June 2017.
Ian Penrose, Chief Executive, of Sportech said:
"This is a significant step towards completion of this transaction. I would like to thank the dedicated management, staff and customers who have enhanced the history and success of the Football Pools. I wish them all continued success."
Henry Jackson, Founder and Chief Executive, of OpCapita added:
"We are pleased to have secured licencing so that we are able to move forward with our plans for the Football Pools. We look forward to taking ownership of the business later next month."
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For further information, please contact:
Sportech PLC 020 7268 2400
Ian Penrose, Chief Executive
Mickey Kalifa, Chief Financial Officer
Brunswick Group LLP 020 7404 5959
Mike Smith
Stuart Donnelly
sportech@brunswickgroup.com
Investec Bank PLC 020 7597 5970
Patrick Robb
Peel Hunt LLP 020 7418 8900
Dan Webster