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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 ÂŁ31 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.

 

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SPCURSURRAUAOAA
Date   Source Headline
6th Nov 20087:00 amRNSInterim Management Statement
19th Sep 20084:47 pmRNSHolding(s) in Company
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18th Aug 20087:00 amRNSDistribution Deal with Daily
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23rd Jul 20087:00 amRNSBoard Appointment
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4th Jul 200811:05 amRNSAnnual Information Update
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24th Jun 20087:00 amRNSRe Agreement
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19th May 20087:00 amRNSInterim Management Statement
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19th Feb 200811:45 amRNSNotice of Results
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8th Jan 20082:54 pmRNSAnnual Information Update
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5th Dec 20075:03 pmRNSHolding(s) in Company
3rd Dec 200712:31 pmRNSAdmission
30th Nov 20071:02 pmRNSResult of EGM
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6th Sep 20073:19 pmRNSHolding(s) in Company
31st Aug 20077:05 amRNSStatement re CC findings
31st Aug 20077:00 amRNSSportech Merger PFs
28th Aug 20079:03 amRNSNotice of Results
16th Jul 20077:00 amRNSAppointment of NED
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12th Jun 20077:01 amRNSSportech/Vernons Merger
25th May 20078:42 amRNSStatement re OFT Decision
3rd May 200712:26 pmRNSStatement re OFT Decision
3rd May 200712:00 pmRNSMerger Update
10th Apr 200712:00 pmBUSSportech Signs up for Orbis' OpenBet(TM) Platform and Games Content
29th Mar 20077:04 amRNSOrbis Partnership
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