Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSPO.L Regulatory News (SPO)

  • There is currently no data for SPO

Response to media speculation

30 Nov 2020 12:44

RNS Number : 9572G
Sportech PLC
30 November 2020
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

30 November 2020

 

Sportech PLC

(the "Group" or the "Company")

Response to media speculation

The Board notes the recent media speculation regarding the potential sale of the Company's Global Tote business to Betmakers Technology Group Ltd ("BetMakers") for a total cash consideration of approximately £31 million.

The Board confirms that it is in advanced discussions with BetMakers as a potential acquirer of the Global Tote business.

The Group continues to review all options and there can be no certainty that the sale of the Global Tote business will proceed or the terms upon which any such sale would take place.

If the sale of the Global Tote business were to proceed it would likely be classified as a class 1 transaction for the Company pursuant to Chapter 10 of the FCA's Listing Rules. In addition, the sale may require shareholder approval as result of the current offer period (as defined in the Takeover Code), pursuant to Rule 21.1 of the Takeover Code. As such, completion of the sale would be conditional upon appropriate shareholder approvals.

The Company's remaining businesses, if the sale of the Global Tote business were to proceed and complete, would comprise the Venues business, the Lottery business and the Bump 50:50 business.

The Board will issue a further statement if and when appropriate.

For further information, please contact:

Sportech PLC

Giles Vardey, Chairman

Richard McGuire, Chief Executive Officer

Tom Hearne, Chief Financial Officer

 

Tel: +44 (0) 117 902 9000

 

Peel Hunt LLP - Corporate broker

George Sellar

Andrew Clark

Will Bell

 

Tel: +44 (0) 20 7418 8900

 

Buchanan

Henry Harrison-Topham

Jamie Hooper

sportech@buchanan.uk.com

 

Tel: +44 (0) 20 7466 5000

 

This announcement contains inside information within the meaning of the Market Abuse Regulation. The person responsible for arranging release of this announcement on behalf of Sportech Plc is Richard McGuire, Chief Executive Officer.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
SPCURSURRAUAOAA
Date   Source Headline
22nd Oct 201411:41 amRNSHolding(s) in Company
14th Oct 20149:16 amRNSHolding(s) in Company
13th Oct 20143:30 pmRNSHolding(s) in Company
13th Oct 20143:30 pmRNSHolding(s) in Company
13th Oct 20147:00 amRNSUpdate - VAT repayment claim
10th Oct 20144:42 pmRNSTotal Voting Rights
7th Oct 20146:30 pmRNSHolding(s) in Company
1st Oct 20144:51 pmRNSHolding(s) in Company
26th Sep 201412:00 pmRNSSportech PLC Directorate Change
19th Sep 20143:00 pmRNSHolding(s) in Company
17th Sep 20144:14 pmRNSHolding(s) in Company
16th Sep 20142:39 pmRNSUpdate - VAT repayment claim
5th Sep 20147:00 amRNSLTIP Award
21st Aug 20147:00 amRNSInterim Results
4th Aug 20148:39 amRNSHolding(s) in Company
30th Jul 20149:41 amRNSNotice of Interim Results
8th Jul 20147:00 amRNSSportech PLC Wins UK Tote Contract
30th Jun 201410:32 amRNSAppointment of Peel Hunt as Joint Broker
26th Jun 20149:20 amRNSUpdate on VAT Claim
20th Jun 20147:00 amRNSSportech PLC agreement with Resorts Casino Hotel
13th Jun 20147:00 amRNSAppointment of Executive Director
6th Jun 20149:00 amRNSHolding(s) in Company
4th Jun 20149:07 amRNSSportech gains approval for Stamford Sports Bar
21st May 20143:34 pmRNSHolding(s) in Company
13th May 20142:58 pmRNSResult of Annual General Meeting
13th May 20147:00 amRNSInterim Management Statement
2nd May 20144:19 pmRNSUpdate - VAT repayment claim
30th Apr 20141:36 pmRNSTotal Voting Rights
28th Apr 20144:55 pmRNSHolding(s) in Company
24th Apr 201412:47 pmRNSDirector Declaration
16th Apr 20149:47 amRNSHolding(s) in Company
16th Apr 20149:23 amRNSHolding(s) in Company
15th Apr 201411:31 amRNSAdditional Listing
8th Apr 20143:18 pmRNSAnnual Report and Accounts 2013 and Notice of AGM
3rd Apr 20145:03 pmRNSDirector Declaration
25th Mar 20141:32 pmRNSHolding(s) in Company
17th Mar 20144:29 pmRNSDirector/PDMR Shareholding
14th Mar 20143:59 pmRNSDirector Declaration
13th Mar 201410:01 amRNSAcquisition of Shares by Director
10th Mar 20143:09 pmRNSDirector/PDMR Shareholding
7th Mar 20144:38 pmRNSHolding(s) in Company
5th Mar 20147:00 amRNSPreliminary Results
4th Mar 20148:45 amRNSHolding(s) in Company
3rd Mar 20142:59 pmRNSHolding(s) in Company
13th Feb 201412:02 pmRNSDirector Declaration
6th Feb 20148:30 amRNSHolding(s) in Company
6th Feb 20148:27 amRNSDirector Declaration
4th Feb 20147:00 amRNSUpdate on Sportech's U.S. business & VAT Claim
3rd Feb 20142:21 pmRNSHolding(s) in Company
3rd Feb 20142:20 pmRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.