1 Nov 2016 07:53
Sportech PLC
("Sportech")
The Football Pools - Termination of discussions
The Board of Sportech announces that discussions with Burlywood Capital LLP ("Burlywood") regarding the proposed £97.25m sale of The Football Pools have now terminated.
Ian Penrose, Chief Executive, commented:
"Burlywood was unable to conclude the transaction set out within their proposal which we announced in September. The Football Pools is a valuable asset which has been transformed following a lengthy modernisation programme. We will continue to focus on maximising opportunities for the business."
This announcement contains inside information.
For further information, please contact:
Sportech PLC 020 7268 2400
Ian Penrose, Chief Executive
Mickey Kalifa, Chief Financial Officer
Investec Bank PLC 020 7597 5970
Chris Treneman (Corporate Finance)
James Rudd (Corporate Finance)
Patrick Robb (Corporate Broking)
Henry Reast (Corporate Broking)
Brunswick Group LLP 020 7404 5959
Mike Smith
Stuart Donnelly
sportech@brunswickgroup.com
Forward-looking statements
Certain statements in this announcement are, or may be deemed to be, "forward-looking statements". These statements are based on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.
Forward-looking statements include statements typically containing words such as "plans", "expects", "is expected", "is subject to", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "targets", "aims", "projects" or words or terms of similar substance or the negative of those terms, as well as variations of such words and phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Although Sportech PLC believes that the expectations reflected in such forward-looking statements are reasonable, neither Sportech PLC nor any of its directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward looking statements in this announcement will actually occur.
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Given these risks and uncertainties, investors should not place any undue reliance on these forward-looking statements, which speak only as of the date hereof. Other than in accordance with its legal or regulatory obligations (including under the Listing Rules and the Disclosure Guidance and Transparency Rules), Sportech PLC is not under any obligation and expressly disclaims any intention or obligation to update such statements, whether as a result of new information, future events or otherwise.