Playtech PLC Variation in Brickington lock-up arrangement (4893Z)
15 March 2017 - 6:01PM
UK Regulatory
TIDMPTEC
RNS Number : 4893Z
Playtech PLC
15 March 2017
Playtech plc
("Playtech" or the "Playtech Group")
Variation in Brickington lock-up arrangement
Playtech plc ("Playtech") announces it has been notified by
Brickington Trading Limited ("Brickington") that following a direct
and unsolicited inbound enquiry to Brickington by Boussard &
Gavaudan Investment Management LLP ("Boussard & Gavaudan"),
Brickington has agreed to sell 13.0 million Playtech shares to them
at a price of 872.5 pence per share (the "Sale"). The Sale shares
are equivalent to 4.1 per cent of Playtech's current total issued
ordinary share capital and will be subject to a lock-up.
Following completion of the Sale, Brickington's holding in
Playtech will reduce to 56,582,169 ordinary shares, representing
17.8 per cent. of voting rights in Playtech.
Brickington is a wholly owned subsidiary of a trust of which
Playtech's founder, Mr. Teddy Sagi is the ultimate beneficiary.
Brickington will continue to be Playtech's largest single
shareholder following the Sale.
In order to enable Boussard & Gavaudan to make this
significant investment in Playtech, Brickington has been released
with the consent of UBS Limited ("UBS") from the 180 day lock-up
arrangement put in place at the time of its disposal of ordinary
shares in Playtech in early December 2016. Following the Sale,
Brickington has agreed not to sell any Playtech shares until 29 May
2017 at the earliest, subject to the same customary exceptions and
UBS's consent. Boussard & Gavaudan has also agreed to a lock up
arrangement on the Playtech shares they are acquiring from
Brickington for the same period ending on 29 May 2017. UBS executed
the Sale on behalf of Brickington.
Contact:
Playtech plc +44 (0)20 3772 2500
Mor Weizer, Chief Executive Officer
Andrew Smith, Chief Financial Officer
James Newman, Head of Investor Relations
Goodbody Stockbrokers UC +44 (0)203 841 6220
Piers Coombs/David Kearney/Charlotte Craigie
Bell PottingerDavid Rydell/Jonathan Hodgkinson +44 (0)20 3772 2500
About Playtech
Playtech is a market leader in the gambling and financial
trading industries. Founded in 1999 and listed on the Main Market
of the London Stock Exchange (LEI code: 21380068TTB6Z9ZEU548),
Playtech has more than 5,000 employees in 17 countries.
Playtech is the gambling industry's leading software and
services supplier with more than 130 licensees globally, including
many of the world's leading regulated online, retail and mobile
operators, land-based casino groups, government sponsored entities
such as lotteries, and new entrants opening operations in
newly-regulated markets. Its business intelligence-driven gambling
software offering includes casino, live casino, bingo, poker and
sports betting.
It is the pioneer of omni-channel gambling which, through
Playtech ONE, offers operators and their customers, a seamless,
anytime, anywhere experience across any product, any channel
(online, mobile, retail) and any device using a single account and
single wallet. It provides marketing expertise, sophisticated CRM
solutions and other services for operators seeking a full turnkey
solution. Playtech's Financials division operates both on a B2C and
B2B basis. Its B2C focused offering is an established and growing
online CFDs broker, operating the brand markets.com. Its B2B
offering includes the division's proprietary trading platform, CRM
and back-office systems, as well as its liquidity technology
platform which provides retail brokers with multi-asset execution,
prime brokerage services, liquidity and complementary risk
management tools..
www.playtech.com
This information is provided by RNS
The company news service from the London Stock Exchange
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