TIDMPTEC
RNS Number : 0479J
Playtech PLC
18 August 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION; IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
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JURISDICTION
18 August 2021
Result of General Meeting and update on Finalto sale process
Playtech plc ("Playtech" or the "Company") announced on 2 August
2021 that it had posted a supplementary circular to Shareholders
(the "Supplementary Circular") with a notice of the adjourned
General Meeting to be resumed at 10am on 18 August 2021.
The Company announces that, at the General Meeting held earlier
today, the resolution to approve the disposal of Finalto to the
Consortium was not passed. Full details of the vote are set out
below. As a result, and as described in the Original Circular and
the Supplementary Circular, the Consortium have the right to
terminate the SPA within the next 30 days.
Due to the resolution not having been passed, the Consortium has
agreed with Playtech to immediately terminate the SPA. As a result,
the restrictions on Playtech from engaging with Gopher are no
longer in place. The Company will now seek to engage with Gopher to
progress a disposal of Finalto. Although the Consortium has agreed
to terminate the SPA, it has indicated to Playtech it intends to
maintain the Consortium for the next 30 days, such that it will be
in a position to re-enter into the SPA if the parties so agree.
In the event a new binding agreement is reached with any party a
new circular to Shareholders will be required, with a General
Meeting to approve the disposal.
The Board's stated strategy remains to simplify Playtech's
business and to dispose of Finalto for the maximum available
proceeds. Having consulted with its leading Shareholders, Playtech
understands that by voting against the resolution to dispose of
Finalto to the Consortium, Shareholders have been willing to accept
the risk of the SPA terminating, thereby enabling Playtech to
engage with Gopher and to potentially secure better terms for a
sale of Finalto.
Resolution Votes For % Votes Against % Total Votes Votes
Cast (excl Withheld
Votes Withheld)
To approve the
disposal of Finalto
(as described
in the Original
Circular and the
Supplementary
Circular) 76,250,230 31.7 164,288,501 68.3 240,538,731 1,896,155
------------- ------- -------------- ------- ----------------- ------------
As at 18 August 2021 the issued share capital of the Company was
306,356,693 ordinary shares of no par value (excluding 2,937,550
shares held as treasury shares).
Enquiries:
Playtech plc +44 (0) 1624 645 954
Chris McGinnis, Director of Investor Relations & Strategic
Analysis
James Newman, Director of Corporate Affairs
UBS Investment Bank (Financial Adviser and Joint Sponsor to
Playtech) +44 (0) 20 7567 8000
Rahul Luthra / Sandip Dhillon / Ben Crystal
Goodbody Stockbrokers (Corporate Broker and Joint Sponsor to
Playtech) +353 1 667 0400
Piers Coombs / Charlotte Craigie / Stephen Kane
Headland (PR adviser to Playtech) +44 (0) 20 3805 4822
Lucy Legh / Stephen Malthouse / Jack Gault
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 with c.6,400 employees across 24
countries.
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.
About Finalto
Finalto is a specialist in B2C and B2B multi-channel trading
software and services. The Finalto Business' B2C offering,
operating the brand Markets.com, is an established online contracts
for difference ("CFDs") broker where customers can trade shares,
indices, currency and commodity CFDs rapidly and securely on its
trading platforms.
The Finalto Business' B2B offering consists of:
a) clearing and execution services for other retail brokers and
professional clients, through Finalto Financial Services Limited
(formerly CFH Clearing Limited), where the Finalto Business acts as
a matched-principal liquidity provider and straight through
processes the trades to prime brokers and clearing houses;
b) clearing and execution for other retail brokers, where the
Finalto Business acts as the execution venue and market-maker;
and
c) technology and risk management services, where the Finalto
Business provides platform, client relationship management,
reporting and risk-management technology to the retail broker
market.
Additional information
UBS AG London Branch is authorised and regulated by the
Financial Market Supervisory Authority in Switzerland. It is
authorised by the Prudential Regulation Authority and subject to
regulation by the Financial Conduct Authority and limited
regulation by the Prudential Regulation Authority in the United
Kingdom. UBS AG London Branch is acting exclusively as financial
adviser to Playtech plc and no one else in connection with the
process. In connection with such matters, UBS AG London Branch will
not regard any other person as its client, nor will it be
responsible to any other person for providing the protections
afforded to its clients or for providing advice in relation to the
process, the contents of this announcement or any other matter
referred to herein.
Goodbody is authorised and regulated by the Central Bank of
Ireland, and is also subject to regulation by the Financial Conduct
Authority. Goodbody is acting exclusively for Playtech and for no
one else in connection with the process and will not regard any
other person (whether or not a recipient of this announcement) as a
client in relation to the process or any other matter referred to
in this announcement and will not be responsible to anyone other
than Playtech for providing the protections afforded to its clients
or for giving advice in relation to the process or any other matter
referred to in this announcement.
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END
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