ADA Adams Plc

TIDMADA

RNS Number : 5044Q

Adams PLC

29 February 2016

Adams plc

("Adams" or the "Company")

Investment in GVC Holdings PLC ("GVC")

The Directors announce that, on 26 February 2016, Adams acquired a further holding of 63,000 ordinary shares of EUR0.01 in GVC on the Main Market of the London Stock Exchange at an average price of 475.25 pence per share for a total cash consideration of GBP299,400. Adams also has an existing holding of 23,753 shares in GVC which were issued by GVC in exchange for the Company's shareholding in bwin.party digital entertainment plc ("bwin.party") in connection with GVC's acquisition of the entire issued ordinary share capital of bwin.party on 1 February 2016. As a result, Adams now has a total holding of 86,753 shares in GVC obtained for a total investment of EUR505,400 (GBP389,030). The Company's holding in GVC represents 0.03% of the currently issued ordinary share capital of GVC of 291,819,949 shares.

GVC is a multinational online gaming and sports betting group. Following the acquisition of bwin.party on 1 February 2016, the enlarged GVC group now has over 3,200 employees or co-workers and operates some of the leading brands in the gaming sector including bwin, sporting bet, partypoker and Foxy Bingo. It holds gaming licenses in 14 countries which generate around EUR4bn of sports wagers a year.

In the 6 months ended 30 June 2015, GVC reported a profit before taxation of EUR17.1 million on revenue of EUR120.9 million (year ended 31 December 2014: profit before tax of EUR40.6 million on revenue of EUR224.8 million). Its net assets at 30 June 2015 amounted to EUR137.1 million.

In the 6 months ended 30 June 2015, bwin.party reported a profit before taxation of EUR3.1 million on revenue of EUR296.5 million (year ended 31 December 2014: loss before tax of EUR100.5 million on revenue of EUR317.1 million). Its net assets at 30 June 2015 amounted to EUR554.5 million.

Further information on GVC and bwin.party is available on the GVC website www.gvc-plc.com.

Enquiries:

 
Adams plc 
Mike Bretherton               Tel: +44 1534 719 761 
 
Nomad 
Cairn Financial Advisers 
 LLP 
Sandy Jamieson, James         Tel: +44 207 148 7900 
 Caithie 
 
Broker 
Peterhouse Corporate Finance 
 Limited 
Lucy Williams, Duncan         Tel: +44 207 469 0930 
 Vasey 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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