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
1st Apr 20217:00 amRNSFinal Results
30th Mar 20217:00 amRNSNotification of Major Holdings
25th Mar 20217:00 amRNSNotification of Major Holdings
19th Mar 20217:00 amRNSNotice of Final Results
3rd Mar 20217:00 amRNSState of Connecticut announcement regarding gaming
25th Feb 20211:17 pmRNSNotification of Major Holdings
5th Feb 20217:00 amRNSFY 2020 pre-close update
1st Feb 20217:00 amRNSSale of Bump Worldwide
20th Jan 20214:40 pmRNSSecond Price Monitoring Extn
20th Jan 20214:35 pmRNSPrice Monitoring Extension
8th Jan 20213:28 pmRNSNotification of Major Holdings
24th Dec 202010:30 amRNSResult of General Meeting
18th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech Plc
17th Dec 20205:29 pmRNSTermination of discussions
17th Dec 20205:05 pmRNSStatement Regarding Sportech PLC
17th Dec 20202:47 pmPRNForm 8.3 - Sportech plc
17th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech Plc
16th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech Plc
14th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech Plc
11th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech Plc
10th Dec 202012:30 pmRNSForm 8.5 (EPT/RI) - Sportech Plc - AMENDMENT
10th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech Plc
9th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech Plc
8th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech Plc
7th Dec 20201:30 pmRNSPublication of Circular and Notice of GM
7th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) Sportech Plc
4th Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech Plc
3rd Dec 20203:24 pmRNSPUSU extension
3rd Dec 202012:14 pmRNSForm 8.5 (EPT/RI) Sportech Plc
2nd Dec 202011:00 amRNSForm 8.5 (EPT/RI) - Sportech PLC
1st Dec 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech PLC
1st Dec 202010:54 amRNSForm 8.5 (EPT/RI) - Sportech PLC
1st Dec 20207:00 amRNSProposed disposal of the Global Tote business
30th Nov 20206:00 pmRNSForm 8.3 - Sportech plc
30th Nov 202012:44 pmRNSResponse to media speculation
30th Nov 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech PLC
26th Nov 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech PLC
25th Nov 202012:00 pmRNSForm 8.5 (EPT/RI) - Sportech PLC
24th Nov 20209:06 amRNSForm 8.5 (EPT/RI) - Sportech PLC
23rd Nov 20208:30 amRNSForm 8.5 (EPT/RI) - Sportech PLC
20th Nov 20207:36 amRNSForm 8.5 (EPT/RI) - Sportech PLC
19th Nov 20204:54 pmPRNForm 8.3 - Sportech plc
19th Nov 20203:00 pmBUSForm 8.3 - SPO LN
19th Nov 20201:55 pmRNSForm 8.3 - Sportech PLC
19th Nov 20201:27 pmRNSForm 8.3 - Sportech Plc
19th Nov 20208:04 amRNSForm 8.5 (EPT/RI) - Sportech PLC
18th Nov 20202:19 pmPRNForm 8.3 - Sportech plc
18th Nov 20202:10 pmRNSForm 8.3 - Sportech Plc
18th Nov 20208:13 amRNSForm 8.5 (EPT/RI) - Sportech PLC
17th Nov 20202:30 pmRNSForm 8 (OPD) Sportech PLC

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.