Playtech PLC Publication of Circular and General Meeting (0151H)
01 December 2020 - 6:00PM
UK Regulatory
TIDMPTEC
RNS Number : 0151H
Playtech PLC
01 December 2020
Playtech PLC
('Playtech' or the 'Company')
Publication of Circular and Notice of General Meeting
Playtech announces that it is proposing to migrate its tax
residency to the United Kingdom ("UK") in early 2021. A general
meeting of the Company will be held in the Isle of Man at 12.00
p.m. on 18 December 2020 to consider proposed amendments to the
articles of association of the Company to facilitate this migration
("General Meeting"). The Company will shortly publish a circular to
shareholders which will include the notice of General Meeting (the
"Circular").
Reasons for the migration of tax residency
The Company was incorporated and tax registered in the Isle of
Man because at that time it was considered to be the most suitable
tax regime for the purposes of the Company's operations.
The Board now believes that, given the evolution of the Company
and to better align it with its expected future operational
substance, there would be an overall benefit to migrating the
Company's tax residency to the UK with effect from early 2021. This
would allow board meetings and board decisions to take place in the
UK and, in addition, the Company would be able to hold shareholder
meetings in the UK as a matter of course, which should encourage
greater shareholder participation.
In accordance with Listing Rule 9.6.1, copies of the Circular
will be submitted to the National Storage Mechanism and available
to view at www.morningstar.co.uk/uk/NSM and on the Company's
website at: investors.playtech.com
- ENDS -
For further information please contact:
Playtech plc
Chris McGinnis, Director of
Investor Relations & Strategic
Analysis
James Newman, Director of Corporate
Affairs +44 (0) 1624 645 954
Headland (PR adviser to Playtech)
Lucy Legh, Stephen Malthouse +44 (0) 20 3805 4822
About Playtech
Founded in 1999 and premium listed on the Main Market of the
London Stock Exchange, Playtech is a market leader in the gambling
and financial trading industries.
Playtech is the gambling industry's leading technology company
delivering business intelligence driven gambling software,
services, content and platform technology across the industry's
most popular product verticals, including, casino, live casino,
sports betting, virtual sports, bingo and poker. It is the pioneer
of omni-channel gambling technology through its integrated platform
technology, Playtech ONE. Playtech ONE delivers data driven
marketing expertise, single wallet functionality, CRM and
responsible gambling solutions across one single platform across
product verticals and across retail and online.
Playtech partners with and invests in the leading brands in
regulated and newly regulated markets to deliver its data driven
gambling technology across the retail and online value chain.
Playtech provides its technology on a B2B basis to the industry's
leading retail and online operators, land-based casino groups and
government sponsored entities such as lotteries. Playtech directly
owns and operates Snaitech, the leading sports betting and gaming
company in online and retail in Italy,
Playtech's Financials Division, named TradeTech Group, is a
technology leader in the CFD and financial trading industry and
operates both on a B2B and B2C basis.
Playtech has in total c.6,400 employees across 24 countries and
is headquartered in the Isle of Man.
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END
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