TIDMSPO
RNS Number : 5399G
Sportech PLC
19 July 2023
FOR IMMEDIATE RELEASE
19 July 2023
SPORTECH PLC
('Sportech' or the 'Company')
Results of General Meeting
Sportech, an international betting and technology business, is
pleased to announce that, at the General Meeting of the Company
held earlier today, all resolutions put to the Company's
shareholders ("Shareholders") and voted on by way of poll were duly
passed.
The results of the poll were as follows:
Resolution For Against Withheld Total votes
cast
(*indicates No. of % of No. % of No. of % of
special resolution) votes shares of votes shares votes total
(1) voted voted issued
(2) (2) share
capital
----------- -------- ---------- -------- --------- --------
Resolution 99.94 0.06 73.68
1* 73,635,473 % 41,795 % 2,500 73,677,268 %
----------- -------- ---------- -------- --------- ----------- --------
Resolution 99.94 0.06 67.72
2 67,675,357 % 41,795 % 5,962,616 67,717,152 %
----------- -------- ---------- -------- --------- ----------- --------
Resolution 99.00 1.00 67.72
3* 67,037,885 % 679,267 % 5,962,616 67,717,152 %
----------- -------- ---------- -------- --------- ----------- --------
Resolution 99.98 0.02 67.69
4* 67,672,440 % 14,712 % 5,992,616 67,687,152 %
----------- -------- ---------- -------- --------- ----------- --------
Resolution 99.98 0.02 73.65
5* 73,630,803 % 16,465 % 32,500 73,647,268 %
----------- -------- ---------- -------- --------- ----------- --------
Notes:
(1) Any proxy appointments which gave discretion to the Chairman
have been included in the "for" total.
(2) A vote withheld is not a vote in law and is not counted in
the calculation of the percentage of the votes validly cast "for"
or "against" a resolution.
The total number of shares in issue in capital of the Company as
at 19 July 2022 was 100,000,000, with no shares being held in
treasury. Accordingly, the total number of voting rights in the
Company as at 19 July 2023 was 100,000,000.
Publication on website:
The full text of the resolutions proposed and passed at the
General Meeting can be found in the Company's Shareholder Circular
and Notice of General Meeting (the "Circular") which was published
and posted to Shareholders on 28 June 2023 and is available on the
Company's website at https://www.sportechplc.com/investors/ .
A copy of this announcement is also available on the Company's
website at www.sportechplc.com .
Share Capital Restructure
At the General Meeting, Shareholders approved, amongst other
matters, the Share Capital Restructure as set out in more detail in
the Circular.
The Share Capital Restructure consists of the 100,000,000
ordinary shares of one pence each in the capital of the Company
("Existing Ordinary Shares") being consolidated, on a 10,000 for
one basis, into ordinary shares of GBP100 each in the capital of
the Company and then immediately sub-divided into 10,000,000
ordinary shares of 10 pence each in the capital of the Company
("New Ordinary Shares"). The New Ordinary Shares will be equivalent
in all respects to the Existing Ordinary Shares, including their
dividend, voting and other rights.
Any New Ordinary Shares which represent fractional entitlements
arising as a result of the Share Consolidation will be repurchased
by the Company.
Admission of the New Ordinary Shares to trading on AIM
An application has been made to the London Stock Exchange plc
for the admission to trading on AIM of the New Ordinary Shares,
which is expected to become effective and dealings commence at or
around 8.00 a.m. on 20 July 2023 ("Admission").
Total Voting Rights, ISIN and SEDOL
The New Ordinary Shares have a new ISIN and SEDOL code, and the
number of total voting rights in the Company's issued share capital
will strictly decrease as a result of the Share Capital
Restructure. However, in practice, save for any changes connected
to fractional entitlements arising as a result of the Share
Consolidation, Shareholders' percentage holdings in the issued
share capital of the Company will remain unchanged.
Upon Admission, the Company's issued share capital will consist
of 10,000,000 New Ordinary Shares each with one voting right. The
Company does not hold any ordinary shares in treasury. Immediately
following Admission, this figure may be used by shareholders in the
Company as the denominator for the calculation by which they may
determine if they are required to notify their interest in, or
change to their interest in, the share capital of the Company under
the FCA's Disclosure Guidance and Transparency Rules. However, this
figure will change as a result of the repurchase of New Ordinary
Shares representing fractional entitlements arising as a result of
the Share Consolidation. A further announcement will be released
following completion of such repurchase, which is expected to take
place on 24 July 2023.
The ISIN and SEDOL code of the New Ordinary Shares will be
GB00BRV2F192 and BRV2F19, respectively.
Unless otherwise defined, capitalised terms used in this
announcement have the same meanings as ascribed to them in the
Circular sent to Shareholders dated 28 June 2023.
Contacts:
Sportech PLC enquiries@sportechplc.com
Richard McGuire, Non-Executive
Chairman
Clive Whiley, Senior Independent
Director
Peel Hunt (Nominated Adviser Tel: +44 (0) 20 7418 8900
& Broker)
George Sellar
Andrew Clark
Lalit Bose
Notes to Editors:
About Sportech
Sportech operates in the gaming market and has two main
businesses. Firstly, it runs Sports Bars and other betting venues
in Connecticut, USA, where it has an exclusive license to offer
pari-mutuel wagering, it also has a distribution agreement with the
Connecticut Lottery Corporation to provide retail sports betting.
Secondly, Sportech provides online gaming through two separate
lines of business. Mywinners.com operates under an exclusive
license to offer pari-mutuel betting online in Connecticut, while
123bet.com offers pari-mutuel betting online across the wider
USA.
Important notices:
Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated
in the United Kingdom by the FCA, is acting as Corporate Broker to
Sportech and no one else in connection with the matters described
in this Announcement and will not be responsible to anyone other
than Sportech for providing the protections afforded to clients of
Peel Hunt, or for providing advice in connection with the matters
referred to herein. Neither Peel Hunt nor any of its group
undertakings or affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in
contract, in tort, under statute or otherwise) to any person who is
not a client of Peel Hunt in connection with this Announcement or
any matter referred to herein.
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END
ROMEAEXNFSFDEFA
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